Wells Fargo CEO Faces Another Call To Resign

Wells Fargo & Co.'s chief executive, Timothy Sloan, is facing renewed pressure to resign from U.S. Sen. Elizabeth Warren.

The Democratic senator, who may run for the party's presidential nomination for 2020, sent a letter to Jerome Powell, chairman of the Federal Reserve. She said the Fed should not allow Wells Fargo to increase its total assets until Sloan is replaced "with someone who is not deeply implicated in the bank's misconduct."

The Federal Reserve issued an order Feb. 3 that does not allow Wells Fargo to grow total assets beyond the $1.93 trillion it had on Dec. 31, 2017. Sloan has said he does not expect the order to be lifted until well into 2019.

Wells Fargo said in a statement it "continues to have constructive dialogue with the Federal Reserve to ensure that we fully satisfy our consent order requirements.

"We are also confident that the transformation of the company over the last two years, including our efforts to make things right with our customers, will contribute to resolution of the issues cited within the consent order, especially in our operational and compliance risk management structure."

On Sept. 20, the board of directors took an unusual step to address rumors that it may have considered hiring a former Trump administration official as its chief executive. Chairwoman Betsy Duke said Sloan "has the unanimous support of the board, and this support has never wavered."

Richard Craver

Mickey Truck Bodies shifting executive roles

Mickey Truck Bodies, based in High Point, has announced several executive changes, including that Dean Sink will shift to executive chairman on Jan. 1.

Sink will take the same role with Mickey Ventures & Holdings. He had been chairman, chief executive and president of both companies. In his new role, Sink will focus more strategically on growth and diversification outside of Mickey's core business.

Succeeding Sink as president and chief executive of Mickey Truck Bodies will be Mike Tucker, while Greg Fisher will become president and chief executive of Mickey Ventures & Holdings.

It will be the first time in the company's 114-year history that a non-Mickey family member will be responsible for all day-to-day operations. Carl Mickey Jr., currently senior executive vice president, will serve as chairman of both companies.

Richard Craver

HondaJet gains certification

from India regulators

Honda Aircraft Co. said Tuesday that HondaJet and HondaJet Elite have received type certification from India's Directorate General of Civil Aviation.

That allows the airplanes to be sold and marketed in India. HondaJet Elite is certified in the United States and Europe.

Honda Aircraft has more than 1,000 employees at its manufacturing plant next to Piedmont Triad International Airport in Greensboro.

Richard Craver

Stocks sink on weak industrial earnings; tech skid resumes

NEW YORK - U.S. stocks slumped again Thursday as investors continued to sell shares of technology and internet companies, industrials and companies that rely on consumer spending.

Several industrial companies tumbled after releasing weak quarterly reports, and European stocks also fell as European Union leaders criticized Italy's spending plans.

Richard Craver