Chicago Rivet & Machine Co
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Industrials : Machinery | Small Cap Value
Company profile

Chicago Rivet & Machine Co. is engaged in the business of producing and selling rivets, cold-formed fasteners and parts, screw machine products, automatic rivet setting machines and parts and tools for such machines. The Company operates in two segments of the fastener industry: Fasteners and Assembly Equipment. The Fastener segment consists of the manufacture and sale of rivets, cold-formed fasteners and parts, and screw machine products. The Assembly Equipment segment consists primarily of the manufacture of automatic rivet setting machines, automatic assembly equipment and parts and tools for such machines. The principal market for the Company’s products is the North American automotive industry. The Company serves various customers in the manufacture of automobiles and automotive components. The Company's wholly owned subsidiary is H & L Tool Company, Inc.

Closing Price
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-0.1125 (-0.42%)
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Two Twitter executives to leave company ahead of Elon Musk buyout

1:57 pm ET May 12, 2022 (MarketWatch)

By Emily Bary

Company is also pausing most hiring and backfills

Twitter Inc.'s general managers for revenue and consumer are leaving the company ahead of Tesla Inc. Chief Executive Elon Musk's takeover of the social-media giant.

Kayvon Beykpour, the general manager of Twitter's (TWTR) consumer business, announced in a series of Thursday tweets that the company's current chief executive, Parag Agrawal, asked him to leave "after letting me know that he wants to take the team in a different direction."

Beykpour said he was on paternity leave at the time he got the news.

Bruce Falck, Twitter's general manager of revenue, will be departing along with Beykpour, a Twitter spokesperson confirmed to MarketWatch.

Twitter also plans to pause most hiring and backfills, the spokesperson added, except in the case of business-critical roles. The company will cut back on non-labor costs as well.

A report in The Wall Street Journal Thursday indicated that Twitter didn't have current plans for companywide layoffs.

Musk is in the process of acquiring Twitter, after reaching a deal with the company's board of directors. He recently picked up new financing partners, and a Thursday Bloomberg report said that he was in talks to raise enough funding through equity and preferred financing such that he wouldn't have to take out a margin loan against his Tesla (TSLA) shares.

Twitter share were off 1.2% in afternoon trading Thursday.

-Emily Bary


(END) Dow Jones Newswires

May 12, 2022 13:57 ET (17:57 GMT)

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