Two personnel items bookend our wrap-up of the top news from the week. Kicking things off we learn that Genuine Parts Co. (GPC) has elected a new board member. The election of Robert "Robin" Loudermilk Jr., as a new director of the company was announced by GPC Chairman, President and CEO Thomas Gallagher. Loudermilk is currently president and CEO of Aarons Inc., the nation's leader in sales and lease ownership, including specialty retailing of office furniture, home furnishings, appliances and electronics. Loudermilk has held the position of president and chief operating officer at Aaron’s for 13 years and has been CEO for two years. Loudermilk has served as a director of the company since 1983.

In the retail sector, earlier this week U.S. Auto Parts completed its acquisition of the Whitney Automotive Group. The online parts retailer purchased the business for $27.5 million, along with the assumption of approximately $11 million in trade-related and other payables. The Whitney Automotive Group, a 95-year-old company best known for the JC Whitney brand, is part of a group of established brands that distribute aftermarket automotive parts primarily focused on the "Do It Yourself" customer in the automotive accessories aftermarket. Its brand portfolio includes Stylintrucks.com, Carparts.com and Allbikesupershop.com, which, along with JCWhitney.com, generate approximately 3 million monthly unique visitors. Established in 1995, U.S. Auto Parts sells aftermarket auto parts, including body parts, engine parts, performance parts and accessories through its network of websites including http://www.partstrain.com and http://www.autopartswarehouse.com. In January, the company launched AutoMD.com, which provides vehicle repair estimates and advice to motorists.

Also this week, we learned that the Indianapolis Motor Speedway has unveiled a new commemorative logo for the 2011 Indianapolis 500 – the 100th anniversary of “The Greatest Spectacle in Racing.” The new logo was unveiled Friday, Aug. 13, simultaneously at the Indianapolis Motor Speedway (IMS) and the Pebble Beach Concours d’Elegance. The 2011 Indianapolis 500 is scheduled for Sunday, May 29 at IMS. It is the centerpiece of the final year of the three-year Centennial Era at IMS. The logo, created by the IMS Creative Services department, features a retro look inspired by the rich history of designs from tickets, credentials, merchandise and countless other memorabilia from the 100-year history of the race. Specific elements incorporated in the design include the traditional Wing and Wheel from the 1926 Indianapolis 500 admission ticket, banner elements from the 1933 Technical Committee credential and small details from the 1924 and 1929 official event programs. The logo unveiling was the first of many activities in upcoming months planned to celebrate the 100th Anniversary of the Indy 500.

In other news, Underhood Service Editor Ed Sunkin writes about the new engine oil specification that will hit the market this year. Currently, the International Lubricants Standardization and Approval Committee (ILSAC) is finalizing the latest next-generation of motor oil specifications called GF-5, which is designed to improve the function and performance of new engine and emission designs and ensure compliance with recent government regulations. In September 2009, the U.S. EPA and the Department of Transportation jointly proposed a rule to increase fuel economy and reduce greenhouse gas emissions. The program covers model years 2012 through 2016 and would require increases in fuel economy by approximately 5 percent each year. It also forces 2016 vehicles to meet an estimated combined average emission level of 250 grams of carbon dioxide per mile. In order to meet this objective, the American Petroleum Institute said stricter oil guidelines would need to be developed for the automakers. In the article, Sunkin offers more details on what this will mean for service and lube shops.

The final item in our recap of the week’s top news remembers Phil Wick, former president of Les Schwab Tire Centers, who died this week at the age of 66. Born in Puyallup, Wash., Wick was the president of Les Schwab Tire Centers for 22 years, retiring in December 2005. He continued to serve as chairman of the company’s board of directors until December 2008, and thereafter as an active member of the board. Wick began his career with Les Schwab Tires Centers in 1965 and played an important role in the company’s growth and success. He joined Les Schwab as a 21-year-old hourly sales and service employee and within three years became manager of the Les Schwab tire center located in Walla Walla, Wash. He was one of the youngest store managers in the company’s history. In 1983, he became president of Les Schwab Tire Centers.