PAACE AUTOMECHANIKA 2007: Not an Ordinary Trade Show
Last week, many North American automotive aftermarket professionals — including myself — packed their bags for Mexico City and the annual PAACE Automechanika trade show. The show this year drew more than 550 exhibitors and 19,000 attendees. In recent years, the show has started to become known as a place for U.S. companies to explore expansion plans into Mexico and South America. The show is sponsored Mexico’s Industria Nacional de Autopartes (INA) along with U.S. industry association heavyweights: the Automotive Aftermarket Industry Association (AAIA), the Motor Equipment Manufacturer’s Association (MEMA), the Automotive Parts Rebuilder Association (APRA) and the Specialty Equipment Manufacturers Association (SEMA).
All the World’s Vehicles Would Circle the Globe 120 Times
RESEARCH TRIANGLE PARK, NC – If all the world’s motor vehicles were lined up bumper to bumper, the line of traffic would circle the globe 120 times. According to the 2007-2008 World Motor Vehicle Market Report, the world’s motor vehicle population reached 789.8 million units in 2005 – a figure large enough to create the
Ted Wise of O’Reilly Auto Parts to Address AASA’s Breakfast at AAPEX
Ted Wise, co-president and COO of O’Reilly Automotive Inc., Springfield, MO, will address the Executive Breakfast presented by the Automotive Aftermarket Suppliers Association (AASA) at 7 a.m. on Tuesday, Oct. 30, the kick-off event at Automotive Aftermarket Products Expo (AAPEX) in Las Vegas. Wise will be the featured speaker at the third annual event offered by AASA on the opening day of AAPEX. The breakfast is sponsored by Ernst & Young and will be held at The Venetian.
Pep Boys Executive Sells 20,000 Shares
The executive vice president of merchandising and marketing for Pep Boys — Manny, Moe & Jack exercised options for 20,000 shares of common stock, according to a Securities and Exchange Commission filing Friday. In a Form 4 filed with the SEC, Hal Smith reported he exercised the options for $15.65 apiece Friday and sold all the shares for $20.83 apiece the same day.
Head of CARB Resigns
From Sacramento Bee Capitol Alert via MEMA Industry News The head of the California Air Resources Board resigned Thursday, apparently as a result of a disagreement with Gov. Arnold Schwarzenegger over the agency’s decision to delay a smog reduction plan for the San Joaquin Valley. Schwarzenegger’s office confirmed that the chairman, Robert Sawyer, stepped down.
Federal-Mogul Bankruptcy Emergence Delayed
Auto parts giant Federal-Mogul Corp. spent four days in bankruptcy hearings this week in Pittsburgh but was unable to gain approval of its reorganization plan this week.The company’s bankruptcy confirmation hearings have been adjourned to July 9-10, said Robert Shannon, a partner with law firm Bell Boyd & Lloyd LLC in Chicago and a lawyer for Federal-Mogul’s shareholder committee.
Northwood University Announces New Appointments
Northwood University President Keith Pretty has announced three new appointments at the university. Dr. Timothy G. Nash has been named vice president of Graduate and Special Programs/Dean of the Richard DeVos Graduate School of Management. This is a newly created position. Dr. David Long, who has served as Chancellor and COO, will fill the role of provost and chief operating officer of the Michigan campus now vacated by Dr. Nash. Dr. William Busby will become dean emeritus and holder of the Major General William C. Lewis, Jr. Professor of Business Administration Endowed Chair.
Highland Could Become Lead Delphi Investor
Highland Capital Management LP has begun direct talks with Delphi Corp. and its former parent General Motors Corp. that could make the Dallas-based hedge fund the lead investor in a new financing package to help Delphi emerge from Chapter 11.
2007 Aftermarket eForum Offers Informative Educational Track Sessions; Early-Bird Registration Deadline Extended
Three in-depth educational track sessions on hot industry issues will be offered during the first day of the 2007 Aftermarket eForum, July 16-18 at the Hyatt Regency O’Hare in Chicago. All three sessions will run concurrently from 1 to 4:30 p.m. on Monday, July 16. In addition, the early-bird registration deadline for the 2007 Aftermarket eForum has been extended to June 15.
Free Webinar to Show How Aftermarket Suppliers Can Improve Profit By Reducing Inventory Levels
MEMA Financial Services Group (MFSG) and Custom Technology Solutions (CTS) have jointly produced a free webinar showcasing a case study on inventory optimization. The webinar, hosted by The Catevo Group, will illustrate how aftermarket suppliers can improve profit by reducing inventory levels. The case study on inventory optimization and deploying the right inventory at the right location will be the focus of a webinar to take place Tuesday, June 19 from 2 to 3 p.m. (EDT). Those interested in attending the webinar should send an e-mail to [email protected]. Log-in information will be provided prior to the webinar.