Six Out of 10 Consumers Now Believe U.S. Is In a Recession
PORT WASHINGTON, N.Y. — The percentage of consumers who feel we are in tough times or a recession has increased since April, according to a monthly survey from leading market research company The NPD Group, Inc. According to the latest results of NPD’s Fast Checks Study (Consumers Speak Out On the U.S. Economy) in May,
CARDONE Industries Purchases Certain Assets of Remy Automotive Europe
CARDONE Industries has entered into a definitive agreement with Remy Automotive Europe to acquire three plants in the U.K. Remy Automotive Europe remanufactures ignition distributors, brake calipers, steering racks and pumps and manufactures ignition leads – a product group referred to within Remy as Multiline. A deal has also been reached on a long-term supply agreement through which CARDONE will supply Remy with its demands for these Multiline products.
Bosch Registers Largest Number of Patents in Company History
FARMINGTON HILLS, Mich. — Last year, Bosch researchers and developers registered more patents than ever before. The number of first-filed patents rose by seven percent to a total of 3,281, including 569 in the United States. This adds up to an average of 14 developments submitted by Bosch to the patent offices every working day.
Gates Corp. to Close South Carolina Plant
After an extensive study, Gates is restructuring its belt manufacturing facilities in North America. As a result, Gates will be closing its Moncks Corner, S.C., belt plant. Production from the plant will be absorbed into its other North American belt production facilities.
VIDEO FEATURE: Attendees of ACDelco eAction Forum Make E-Commerce a Top Priority
Attendees of ACDelco’s recent eAction Forum in Phoenix, Ariz., heard the organization’s vision for e-business, one that strives for increased efficiency and a significant amount of inventory turns. E-commerce was on the mind of those attending the eAction Forum, held May 12-14, and they have good reason to be interested: This month, ACDelco hit $1 billion in sales that have originated from the organization’s e-commerce systems since they were started in earnest in 2003. While in Phoenix, Counterman Editor Mark Phillips had a chance to speak to a few ACDelco execs and eAction Forum attendees about the event and why e-commerce is critical to success in the aftermarket today.
Mitchell 1 Adds Electronic Parts Ordering Information Section to Web Site
POWAY, Calif. – Mitchell 1 has added a Parts Ordering Information section to its Web site under the heading “Program Distribution Group.” With connections to the leading aftermarket parts distributors, professional technicians can connect with their current supplier of choice with the simple click of a mouse. “From invoicing to inventory control, Mitchell 1’s Manager/ManagerPlus
Joe Loughrey to Retire as Cummins President and Chief COO in March 2009; to Become Cummins Vice Chairman on Aug. 1
Cummins Inc. announced yesterday that Joe Loughrey, president and chief operating officer, will retire from Cummins in March 2009. Effective this Aug. 1, Loughrey will become Cummins vice chairman and remain a member of the board of directors until his retirement. Loughrey has been president and COO of Cummins since May 2005.
Monro Muffler Brake Reports Net Income of $21.9 Million for Fiscal Year 2008
Monro Muffler Brake has announced financial results for its fourth quarter and fiscal year ended March 29. Sales for the fourth quarter of fiscal 2008 were $107.2 million compared to $107.7 million for the fourth quarter of fiscal 2007, primarily due to one less selling week in the fourth quarter of fiscal 2008 versus fiscal 2007. Net sales for fiscal 2008 increased 5.3 percent to $439.4 million from $417.2 million for fiscal 2007.
Gautam Pathak Promoted to VP of Product and Business Development at CORSA
CORSA Performance Exhausts, manufacturer of high-performance stainless steel exhaust systems for the automotive and marine industry, has promoted Gautam Pathak to vice president of product and business development. In his new role, Pathak will oversee new product development and develop strategies for business growth in new channels, including original equipment, Middle East and the European aftermarket.
Global Symposium Awards Scholarships to 115 Students in 2008
The Global Automotive Aftermarket Symposium (GAAS) Scholarship Committee recently announced the awarding of scholarships to 115 students pursuing aftermarket careers in 2008. The $1,000 and $2,000 scholarships will be granted to 105 students in the U.S. and ten in Canada. In the history of the scholarship program, more than 1,400 students have received aid totaling approximately $1.4 million.