Goodyear Names Assistant Treasurer
Goodyear Tire & Rubber has named Damon Audia, a former Delphi executive, as its new assistant treasurer, capital markets. While at Delphi, Audia served in a variety of treasury and financial roles. He had been with the company since 1998. In his new position, Audia will have responsibility for all financing transactions for Goodyear globally.
Lear Eliminates Poison Pill
The board of directors at Lear Corp. has voted to amend its shareholder rights plan, commonly known as a poison pill. As a result of this amendment, the rights plan will automatically expire at the close of business on December 15. It was originally scheduled to expire in March 2010.
Herman Trend Alert: The Global Problem of Short-Term Employee Turnover
A major personnel cost for employers is the turnover of employees with less than one year of service. Research conducted by a number of companies shows that if an employee stays for a year, there is a strong likelihood that the person will remain with the company for a much longer time. Unfortunately, many employers suffer from a costly churning in their new-hire labor force.
Herman Trend Alert: The Global Problem of Short-Term Employee Turnover
A major personnel cost for employers is the turnover of employees with less than one year of service. Research conducted by a number of companies shows that if an employee stays for a year, there is a strong likelihood that the person will remain with the company for a much longer time. Unfortunately, many employers suffer from a costly churning in their new-hire labor force.
2005 Omnibus Appropriations Bill to Help Strengthen Several Industry Initiatives
The fiscal 2005 Omnibus Appropriations Bill, recently approved by Congress on Nov. 20, will help strengthen the country’s stance against intellectual property rights (IPR) violations with the creation of a new federal post to coordinate federal anti-IPR theft efforts. Broad industry support for stronger intellectual property enforcement abroad resulted in the creation of a new Intellectual Property (IP) czar post, which will be appointed by the president. The new IP czar will serve as coordinator for international intellectual property enforcement and lead the National Intellectual Property Law Enforcement Coordination Council (NIPLECC).
Kumho Planning Dual IPO
London’s Financial Times has confirmed that Kumho Tire Co. will make an initial public stock offering, but is planning a dual IPO on stock exchanges in both Seoul and either New York or London.
Save the Date: Aftermarket eForum Set for July 19-21
The Aftermarket eForum, the only conference devoted exclusively to information technology and e-commerce issues in the aftermarket, is set for Tuesday, July 19, through Thursday, July 21, at the Hyatt Regency O’Hare, Chicago, Ill. The eForum will feature keynote presentations, breakout sessions, vendor exhibits and networking and business development opportunities for aftermarket suppliers, distributors, retailers and service retailers.
Federal-Mogul Reorganization Plan Hearing Delayed
A hearing set for Thursday to approve Federal-Mogul Corp.’s Chapter 11 reorganization plan has been postponed, according to Dow Jones Newswires. Federal-Mogul said in a filing with the U.S. Securities and Exchange Commission that it won’t pursue confirmation of its plan until it gets an estimate for asbestos-related claims against its business units in England. It plans to seeking such an estimate on Thursday.
Leadership 2010 Industry Reports Now Available
The University of the Aftermarket has issued reports from this year’s Leadership 2010 program. The Leadership 2010 program brings together a diverse cross-section of individuals from aftermarket manufacturers, distributors and automotive service providers. A key component of this leadership development program is conducting primary research on issues of critical importance to the automotive aftermarket industry.
IMS President Tony George Presented First Autosport Pioneering and Innovation Award
Tony George, Indianapolis Motor Speedway president and CEO, was given the inaugural Pioneering and Innovation Award at the Autosport Awards held Dec. 5 in London. George was recognized for his leadership in the development of the Steel and Foam Energy Reduction (SAFER) Barrier. The SAFER Barrier, under development by the Indy Racing League and the University of Nebraska-Lincoln’s Midwest Roadside Safety Facility since 1998, absorbs energy during impacts with retaining walls and is one of the more important safety breakthroughs in motorsports. NASCAR joined in the development of the system in September 2000.