GM, Ford Part of SEC Review of Pension Accounting
The Securities and Exchange Commission, as part of a broad effort to pre-empt another flurry of Enron-style financial trickery, has asked three automotive companies and three other, unnamed companies how they make certain pension fund calculations. The Securities and Exchange Commission, as part of a broad effort to pre-empt another flurry of Enron-style financial trickery, has asked three automotive companies and three other, unnamed companies how they make certain pension fund calculations.
Workers Sue Oxford on Benefits
Former employees of a closed Indiana auto parts plant are suing a Michigan company and its top executives, accusing them of lying to the government and holding up benefits provided under the North American Free Trade Agreement. More than 300 former employees of Oxford Automotive Inc. are named as plaintiffs in a complaint alleging the Troy, Mich.-based company and nine former and current company officials engaged in fraud and criminal conversion. The case was filed Friday in Marshall Circuit Court.
Visteon Drops Plan to Sell a Factory to Plastech
Visteon Corp., the second-biggest U.S. maker of auto parts, dropped its plan to sell a Chicago factory to Plastech Engineered Products Inc. because the companies couldn’t agree on terms, a Visteon spokesman said. Visteon, based in Van Buren Township, Mich., announced the sale in August as a way to cut costs and help end annual losses after being spun off from Ford in 2000.
Dana Third Quarter Profit Falls
Dana Corp., the biggest maker of axles for light trucks, said third-quarter net income fell 34 percent as U.S. carmakers trimmed production and raw material costs rose. Net income dropped to $40 million, or 27 cents a share, from $61 million, or 41 cents, the Toledo company said Wednesday. Sales rose 12.2 percent to $2.11 billion from $1.88 billion. Higher steel costs alone reduced net income by $22 million, Chief Executive Michael Burns said in a statement.
AMN Publisher Jon Owens Talks About the Great Brand Debate
A brand is a promise. But the bigger question is: Just what exactly does your brand promise?
Three Join AASA Board
Three automotive aftermarket executives have joined the board of governors of the Automotive Aftermarket Suppliers Association (AASA). AASA is the aftermarket market segment association of the Motor & Equipment Manufacturers Association (MEMA). New board members serving three year terms are: Kevin Baird, CEO, Qualitor Inc., Southfield, Mich.; John Casanova, senior vice president, Remy International, Anderson, Ind.; and John Casanova, senior vice president, Remy International, Anderson, Ind.
Continental AG Protects its Brands Online with Register.com
International automotive supplier Continental AG has selected Register.com, a leading provider of global domain name registration and Internet services, to manage its entire domain name portfolio. Through its Corporate Services Division, Register.com will help Continental manage and secure its Web presence and protect its brands from infringement on the Internet.
How To Inspire Managers & Sales People To Do Their Best And Win (Lessons From Racing)
This year at University Forum, popular motorsports anchor Rick Benjamin and Tom Easton, AAP, a senior partner with Essential Action Design Group, will use lessons from racing to show you how to inspire managers and sales people to do their best.The University of the Aftermarket’s annual University Forum can help you stay competitive, and keep pace with our ever-changing market. The event takes place on Sunday, Oct. 31 prior to the kickoff of AAPEX 2004.
Turtle Wax Plans Youth Marketing Initiatives Including Sweepstakes and Tour
Turtle Wax, the number one selling brand of car care products in the world, will be combining state-of-the-art technology with authentic grass roots marketing for its upcoming 2005 Turtle Wax “Get Waxed Tour”, and Turtle Wax “Get Waxed Tour” Sweepstakes. As one of its primary marketing initiatives in 2005, Turtle Wax plans to enter the youth auto culture market by way of a tour, sweepstakes and the creation of two highly modified “Get Waxed” show cars. The nation-wide tour will bring the Turtle Wax brand to select leading car culture and youth-oriented lifestyle events. The company plans to reveal details of the tour and sweepstakes next month at the SEMA show at Las Vegas.
AAIA’s Schmatz Elected to Automotive Hall of Fame Board
AAIA’s president and CEO, Kathleen Schmatz, was recently elected to the board of directors of the Automotive Hall of Fame (AHF). She joins Al Gaspar, AAIA’s president emeritus, who joined the AHF Board in 2000. AAIA’s president and CEO, Kathleen Schmatz, was recently elected to the board of directors of the Automotive Hall of Fame (AHF). She joins Al Gaspar, AAIA’s president emeritus, who joined the AHF Board in 2000.
CustomerLink Adds Voice Prompt and E-Prompt to Their Suite of CRM Offerings
CustomerLink Systems, a provider of multi-media customer acquisition, development and retention programs for the automotive service and repair industry has added Voice Prompt and E-Prompt services to its list of service center CRM offerings. Both program offerings are available now. With Voice Prompt, a service center can specify what time of day a recorded voice message will be delivered to a customer’s home or business phone. As with Voice Prompt, E-Prompt programs a message to arrive in the customer’s email in-box at about the time the mailed card arrives in their mailbox.
Robert Yates to Appear at Loctite AAPEX Booth
Robert Yates, NASCAR Team Owner and engine builder, along with his #38 M&M Ford Simulator will be at the Loctite booth #272 at this year’s AAPEX show. Yates will be signing autographs for show visitors from 10 a.m. to 12 noon on Tuesday, November 2. The #38 simulator will be on display and AAPEX attendees will be able to test their skill levels throughout the show. Race theme prizes featuring the #38 car and product demonstrations will also be featured during the show.