Auto Supplier Venture: Money Diverted Before its Bankruptcy
One of Michigan’s largest private corporations has taken the extraordinary action of suing the man who founded it, saying he, his family and side businesses owned by them siphoned more than $314 million from the corporation before it declared bankruptcy.
Delphi Promotes National Car Care Month
Delphi Corp. announced its support of National Car Care Month, a vital part of the Be Car Care Aware educational campaign designed to increase public awareness about the benefits of good vehicle maintenance and repair.
Dana Today Celebrates 100 Years in Business
Today, Dana Corp. celebrates 100 years in business with its founding on April 1, 1904. On that day, an engineer named Clarence Spicer began producing his encased universal joint, which effectively replaced the sprocket-and-chain power transmission of the day.
Prolong International Appoints Two New Board Members
Prolong International Corp., parent company of Prolong Super Lubricants, which manufactures patented consumer automotive, commercial/industrial and household products, has appointed Cary Fitchey and Robert Lautz as members of its board of directors. Fitchey and Lautz fill existing vacancies on the board.
ExxonMobil Brings Two New Motor Oil Formulas to Market
ExxonMobil has unveiled a new synthetic motor oil for light trucks and SUVs. The new Mobil 1 Truck & SUV Formula, designed for use in both gasoline and diesel engines, protects truck and SUV engines in high temperature conditions, according to the company. The company also recently introduced its new Mobil 1 Racing 0W-30 formula, designed to give high-performance automotive enthusiasts the same boost and protection as professional race car drivers.
Hi-Tech Engine Components to Supply AAM/Parts Pro Group
Hi-Tech Engine Components has been selected as a program vendor to AAM/Parts Pro by a unanimous vote of its members. According to Tim Odom, president of AAM/Parts Pro, having access to Hi-Tech’s arsenal of engine kits for more than 15,000 applications was just one of many reasons for the decision.
Bankrupt Venture Might Sell Some Assets
Bankrupt auto supplier Venture Corp. plans to put itself up for sale to see if there is any interest in the Fraser firm’s assets or business contracts, say lawyers and others familiar with the struggling company. Venture, which makes plastic parts such as instrument panels for the auto industry, has asked the U.S. Bankruptcy Court in Detroit for permission to market the company. A hearing to get approval and determine how marketing would be handled is scheduled for March 11.
Executive Interview with Howard Kesten, President and Founder of Workboards
Our latest edition of “Executive Interview” features Howard Kesten, president and founder of Workboards, which launched the automotive job site, aftermarketJobs.com, in December 2003. A two-time guest speaker at AAPEX, Kesten is also founder and CEO of APA Search, Inc., an executive search and human resources consulting firm serving the automotive industry. In 18 years, he has placed more than 1,600 automotive professionals. Join us as Kesten provides an introduction to aftermarketJobs.com and shares with us his predictions for the future of the aftermarket and the job market.
WIX Filters and Joe Gibbs Racing Create New Cabin Filtration System
WIX Filters has teamed up with the engineers and staff at Joe Gibbs Racing to create a new cabin air filtration system designed to protects drivers’ respiratory systems from particulate matter, like dust, soot and rubber; noxious fumes, gas and oil vapors, and most importantly, carbon monoxide. WIX Filters currently holds the U.S. patent application for the filtration system on file with the U.S. Patent Office. WIX has entered an agreement with Joe Gibbs Racing to manufacture and sell these U.S. Patent Pending air filtration system units to other race teams, making this technology and protection available to the entire racing community.
SEMA To Host Trademark Webinar
SEMA is hosting a webinar conference on “Trademarks” on Thursday, February 12 at 10 a.m. (PST). Conrad Wong of the SEMA Washington, D.C., office will address the following issues: Learn what a trademark is; What constitutes a trademark infringement; The benefits of a federal trademark registration; How to communicate with the Patent and Trademark Office, and more.