Stoneridge to Form Partnership with India Firm
Stoneridge, Inc., a Howland, Ohio-based maker of wiring components and other vehicle parts, said it expects to grab a larger share of the growing auto parts market in India by forming a joint venture with a large Indian parts maker.
Wally Parks NHRA Motorsports Museum Appoints Manager of Marketing and Advertising
Rose Dickinson has been named manager of marketing and advertising at the Wally Parks NHRA Motorsports Museum. In this new role, Dickinson will be responsible for the museum’s advertising, including print and radio for the California Hot Rod Reunion, National Hot Rod Reunion and museum special events. Dickinson’s NHRA career began in 1988 after she left Pennzoil to help start-up National Dragster in-house publications.
Dura-Bond Wins Vendor of the Year Award
Dura-Bond Bearing Co. was recently awarded “Vendor of the Year” status from Engine & Performance Warehouse in Denver, Colo. Based in Carson City, Nev., Dura-Bond is a division of MEPC, a joint venture company between Melling Engine Parts and Engine Power Components.
Private Equity Firms Drive Away With More Auto Parts Deals
The auto parts industry continues to be one of the favorite places for private equity firms to put their money as they invested more than $1.5 billion in the industry in July.
Douglas Battery Expands Distribution
In response to increased demand on the West Coast, Douglas Battery has expanded its California distribution center.
Holley Names Northwest Regional Sales Manager
Holley Performance Products, a leader in the performance engine market, recently announced the addition of Brent Geisler as regional sales manager for the Northwest territory.
Herman Trend Alert: Benefits Will Return
In the highly competitive employment market of the late 1990s, companies scrambled to offer new and different employee benefits to attract the job applicants they needed in the hot economy. In response to the economic slowdown, when corporate strategy shifted from hiring to layoff, employers reduced their investment in a wide range of employee benefits. Many of those benefits will be reinstated as recruiting and retention intensify.
IRS Lets Small Business Taxpayers Expense Up to $100,000 of Software, Other Property
The Internal Revenue Service (IRS) issued proposed (REG-152549-03) and final and temporary regulations (T.D. 9146) that generally let small business taxpayers elect to deduct up to $100,000 of certain tangible property and computer software. The election applies to qualifying property purchased and placed in service in a taxable year beginning after 2002 and before 2006, reflecting changes made by the Jobs and Growth Tax Relief Reconciliation Act of 2003, the Treasury Department said in a news release.
Automotive Suppliers Brought Down New Jobs in July
A disappointing employment report from the Department of Commerce last week caught Wall Street off guard and sent stock prices tumbling for the second day in a row. The unemployment rate edged down slightly to 5.5 percent in July, from 5.6 percent in June, but the bad news came in the area of job creation. Only 32,000 new jobs were added in July; economists had been expecting more than 200,000.
Five States Home to One-Third of Independent Repair Shops, Auto Parts Stores, Says AAIA
The five largest U.S. states comprise one-third of all U.S. independent repair shops and automotive retail establishments, according to new data reported in the “2004/2005 Aftermarket Factbook,” which is published by the Automotive Aftermarket Industry Association (AAIA). California, Texas, New York, Florida and Illinois also dominate the U.S. motorist population, with more than one-third of all licensed drivers.