MEMA Still Accepting Submissions on Regulations
The Bush administration’s Office of Management and Budget (OMB) has announced a comprehensive review of regulations affecting manufacturers in the U.S. OMB has requested information on any U.S. regulations that are inefficient or problematic for manufacturers. Specifically, the eligible regulations would be those that are costly, dated, or represent a significant obstacle to your business. MEMA is working with Rep. Joe Knollenberg (R-Mich.) to create a list of items for submission to the administration. This represents an opportunity for small, medium and large automotive suppliers to actively address obstacles to their businesses and restrictions to their potential growth.
Tower Automotive Reports First Quarter 2004 Results
Tower Automotive has announced its financial results for the first quarter of 2004 and updated 2004 earnings guidance. Tower Automotive announced first quarter revenues of $781 million, compared to $733 million in the first quarter of 2003. The company reported net income of $12 million, or $0.21 per diluted share, for the quarter versus net income for the first quarter of 2003 of $11.6 million, or $0.21 per diluted share.
The End of the Line for the Olds
Today marks the end of the road for Oldsmobile, a line of cars which has been around since 1897. General Motors announced in 2000 that it would discontinue the Oldsmobile, which was the oldest automotive brand name in U.S. history.
ASA’s Bill Haas Featured on Fox News Program
Bill Haas, the Automotive Service Association’s (ASA) vice president of service repair markets, was featured on an interview that aired on the Fox News Channel yesterday. The interview took place at the cable station’s affiliate in Dallas, where Haas discussed the OEMs progress in providing repair information to independent automotive repair facilities.
MEMA’s Information Services Council Creates Forum for Aftermarket IT Professionals
This fall, an assembly of aftermarket information technology (IT) and information services (IS) professionals will meet in southwest Florida to discuss key IT and e-commerce issues affecting the aftermarket. Hosted by MEMA’s Information Services Council (MIS Council), the 2004 Fall Conference will take place Sunday, Oct. 17 through Wednesday, Oct. 20.
Cooper Tire and Rubber Realigns Tire Division
Cooper Tire and Rubber has announced five new executive appointments, as a result of a realignment within the company’s tire group. The realignment was designed to better focus on target markets, support the company’s strategic plan and ensure the right resources are in place to grow the tire business globally, the company said.
Victor Reinz Names Machinist of the Year
Victor Reinz has named its Victor Reinz Machinist of the Year. Along with the AERA and the ASE, Clevite Engine Parts established the Victor Reinz Machinist of the Year Award in order to recognize the valuable contributions machinists make to the automotive rebuilding industry. This year’s award was presented at the AERA New Products Showcase in Las Vegas, Nev. on April 23, 2004.
DENSO Announces Year-end Financial Results
DENSO Corp. has reported its global financial results for the fiscal year, which ended on March 31. The company reported consolidated net sales of $24.2 billion, a 9.8 percent increase from the previous year. Operating income totaled $1.8 billion, an 18 percent increase from the previous year.
Federal-Mogul Says Bill Could Jeopardize Jobs
Federal-Mogul Corp., a Southfield-based auto-parts maker forced into bankruptcy by asbestos litigation, says it opposes legislation to create a $124-billion fund to compensate people for cancer and other diseases caused by the fibrous mineral. Federal-Mogul told lawmakers it was no longer represented by two industry groups lobbying Congress to pass the bill as a retired federal judge tried to mediate differences over the measure. The bill is stalled in the U.S. Senate. Republican and Democratic leaders agreed to the mediation after Democrats blocked Senate action on the bill last week.
Delphi, Visteon Pact to Trade for Job Security
Detroit’s two largest auto suppliers, Delphi Corp. and Visteon Corp., are close to reaching a historic 7-year contract with the UAW that dramatically cuts the wages for all future hires, and requires them to pay for more of their health care and much of their retirement, UAW and company sources have told the Free Press.
DST Users’ Group Announces Spring Conference Agenda
The Directors of the DST Users’ Group have announced the agenda for its upcoming three-day Group Conference, to be held May 12-14, at the Laguna Hills, Calif., Holiday Inn, located near DST’s corporate headquarters. The conference will focus on common goals of DSTWare users, networking, training, product direction and best practices, as well as break-out discussion groups. Topics will include warehouse management, bar coding, replenishment, querying, creative extracting and reporting ideas, cataloging, sales management, and Internet-based parts ordering.
Jasper Engines & Transmissions Becomes “Silver” Sponsor of the Car Care Council Women’s Board
Jasper Engines & Transmissions has signed on as a “Silver” sponsor of the Car Car Council’s Women’s Board activities for 2004. The Car Care Council Women’s Board recently expanded its sponsorship program in order to support all of the Women’s Board activities for the year.