Bendix Brakes Expands Partnership with Pedregon Racing
Honeywell’s Bendix brakes has renewed its associate sponsorship with former Funny Car champion Cruz Pedregon for the 2004 NHRA POWERade drag racing series season. The brand has also expanded its involvement with the team by becoming an associate sponsor on 2003 Funny Car Champion Tony Pedregon’s Quaker State Funny Car.
Technology Outpaces Would-be Technicians
Help Wanted: Automotive technician. Starting salary: $30,000. Benefits include medical insurance, plus two weeks paid vacation and two long weekends off — that’s Thursday through Sunday — a year. How difficult is it to fill a job like that in Michigan’s lackluster economy? Plenty, according to Stan Shephard, owner of Shephard’s Hi Tech Automotive in Detroit. Shephard posted his help-wanted sign 18 months ago, and today the position remains unfilled. He’s had only 15 applicants for the job.
Campaign to Bring Back the “Midas Touch”
Midas wants to return to its core value of trust with the resurrection of a marketing campaign first used in Midas advertising in the 1980s. The company’s new national advertising agency DDB Chicago is collaborating with Ogilvy & Mather Toronto on the “Trust the Midas Touch” campaign. The campaign will include commercials that take place in a Midas shop and show a humorous dialog between a customer of Midas and a Midas service employee, who is hooked up to a polygraph machine. The commercials are the first in a long-term campaign to grow Midas’ category-leading shares in brakes and exhaust and to support the expansion of its services, including oil changes and other routine maintenance services.
Monro Names Valvoline Vendor of the Year
Valvoline has been named Vendor of the Year by the Monro Muffler Brake automotive service chain. Monro owns 600 stores in more than 18 states, operating under the Monro Muffler Brake and Service, Speedy Auto Service by Monro, Kimmel Tires-Auto Service, Tread Quarters Discount Tires and Mr. Tire brands. Valvoline has been principal lubricants and filter supplier to the Rochester, N.Y.-based chain since late 2002.
Bankrupt Venture Might Sell Some Assets
Bankrupt auto supplier Venture Corp. plans to put itself up for sale to see if there is any interest in the Fraser firm’s assets or business contracts, say lawyers and others familiar with the struggling company. Venture, which makes plastic parts such as instrument panels for the auto industry, has asked the U.S. Bankruptcy Court in Detroit for permission to market the company. A hearing to get approval and determine how marketing would be handled is scheduled for March 11.
Dale Hobbs Named Director of Sales at Parts Plus
Dale Hobbs has been named director of sales at Parts Plus. Mike Lambert, president of Parts Plus, announced the appointment. Dale Hobbs has been named director of sales at Parts Plus. Mike Lambert, president of Parts Plus, announced the appointment.
Terry Shively Named Vice President and General Manager of Clevite Engine Parts Division
Terry Shively has been named vice president and general manager of Dana’s Engine and Fluid Management Group’s Clevite Engine Parts Division. Terry McCormack, president of the Dana Automotive Aftermarket Group (AAG) made the announcement.
Exide Signs Exclusive Supply Agreement with TBC Corp.
Exide Technologies has signed an exclusive supply agreement with TBC Corp., one of the largest marketers of automotive replacement tires in the U.S. A significant new customer for Exide, the agreement with TBC includes the company’s recent acquisition of National Tire & Battery (NTB) from Sears, Roebuck and Co., which was completed in November 2003.
NASCAR Driver Bill Lester to Give Keynote Address at GAAS
Bill Lester, driver of the No. 8 BHR Dodge in the NASCAR Craftsman Truck Series, will be the luncheon speaker on Tuesday, May 18, at the ninth annual Global Automotive Aftermarket Symposium (GAAS). GAAS 2004 will take place on May 18-19, at the Hyatt Regency, Chicago, Ill.
Restructuring Charges Drive Midas to a Net Loss of $76.2 Million in 2003
Midas reported a net loss of $76.2 million — or $4.93 per diluted share — for fiscal 2003, which ended Jan. 3. Midas said the loss is primarily the result $102.6 million in charges related to its restructuring, completed in April. As part of the restructuring, Midas exited its wholesale distribution business and refocused its resources on retail franchising and real estate businesses.