Congress Could Consider Tire-Aging Legislation
The National Highway Traffic Safety Administration (NHTSA) is currently studying the issue of whether aging has a detrimental effect on tires (since some rubber compounds may deteriorate over years, regardless of use). Sen. Mike DeWine (R-Ohio) wants to introduce legislation that will require NHTSA to study the issue and prepare a report to Congress within three years.
New Ideas Should Help Old Favorite
After getting whacked by big upheavals in the automotive supply world, the wobbly SAE World Congress, Detroit’s biggest and most important trade show, seems to be finding its legs again.
Akebono Announces Passing of Regional Sales Manager Carl Schaefer
Akebono announced yesterday that Eastern Regional Sales Manager Carl Schaefer unexpectedly passed away in January. Schaefer was a 25-year veteran of the automotive aftermarket business, with a focus on brake systems. He joined Akebono in 2002 and managed the company’s aftermarket sales in the eastern U.S. and Canada.
Dana Names GM Europe Exec Michael Burns CEO and President, Acting President Bill Carroll to Retire
Dana Corp.’s board of directors has named Michael Burns CEO, president and a director of the company, succeeding the late Joe Magliochetti, who passed away Sept. 22, 2003. Burns, who has been president of General Motors Europe since 1998, will officially take over on March 1. Bill Carroll, who has served as acting president and COO since September, will continue in these positions until March 1, at which time he will retire from the company.
Delphi Says Law Will Affect Payouts
Delphi has said the Medicare prescription-drug law passed last month may reduce the company’s future payouts for retiree health-care coverage by $454 million. The company’s obligation at the end of 2003 would have been $8.02 billion with the legislation, or five percent less than $8.47 billion reported, Delphi said in an annual regulatory filing.
Delphi Integrated Service Solutions Appoints Three New Directors
Delphi has announced the appointment of three new directors in sales and marketing, operations and engineering for Delphi Integrated Service Solutions, part of Delphi Product & Service Solutions. Delphi Integrated Service Solutions provides computer-implemented workflow management and vehicle diagnostic systems that enable service writers, shop owners and technicians to increase productivity and drive consumer satisfaction.
TRW Raises $676 Million in Public Offering
TRW Automotive Holdings Corp., which was bought by private equity firm Blackstone Group LP for about $4.7 billion last year, has raised $676 million in an initial public offering. The Livonia, Mich.-based company sold 24.14 million shares of stock at $28 a share. The company had predicted it would sell the stock at between $28 and $30 a share.
American Axle OKs Stock Buyback
Detroit-based American Axle & Manufacturing Holdings announced that its board approved a share repurchase program calling for the company to repurchase up to 2.5 million shares of its stock over the next two years.
Commemorative Issue of FOCUS Marks MEMA’s 100th Anniversary
MEMA is teaming with Babcox Publications to publish a special commemorative issue of its quarterly magazine, Focus, in June 2004 to mark the association’s 100th anniversary. This special edition will be a collector’s item, produced in “coffee-table” quality. The magazine will commemorate the past 100 years of contributions that suppliers and individuals have made to the original equipment, aftermarket and heavy duty industries, a historic timeline and many historic photos from MEMA and its member companies.
“DST Asks”: What Ordering Methods Do You Offer to Customers?
Forecasting the future isn’t a task restricted to tabloid psychics or your TV weatherman. Whether we like it or not, running a successful business today that will remain successful in the future requires forecasting skills.