Afternoon Coffee: Factory Orders Fall in August, Boeing and Airbus Look to Convert Passenger Planes for Cargo Use

August US factory orders slipped 1.7%, or by $8.2 billion, to hit $473 billion, the Commerce Department reported today. It was the biggest fall since December 2014. 

Both Boeing and Airbus are looking to convert single-aisle passenger jets to cargo planes. Boeing is reportedly working with China’s YTO Express Airlines to transform some Boeing 737-800s to freighters.

A new cargo distribution center is being proposed for a 225-acre empty lot east of Syracuse, New York. The Port of Oswego Authority would operate the facility, which could create more than 2,000 jobs and handle imports and exports coming in and out of New York.  

At least 30 states and the District Columbia have joined the investigation into whether automaker Volkswagen committed consumer fraud and environmental violations. The attorneys general from New York and Illinois have also served subpoenas to Volkswagen. 

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