AASA Partners with American Express Tax and Business Services to Co-Sponsor Automotive Aftermarket Executives Roundtable
American Express Tax and Business Services (TBS) announced that MEMA’s Automotive Aftermarket Suppliers Association (AASA) will co-sponsor the bi-annual Automotive Aftermarket Executives Roundtable on September 29, 2004 in Detroit, Mich., and September 30, 2004 in Chicago, Ill. The discussion will focus on A China Update: How to Succeed and will specifically cover current conditions, determining where are you in the world, knowing when to seek help, major business mistakes, developing a positive business relationship, communicating amongst your locations and tax planning.
Charting Your Supply Chain DNA
How do you develop an integrated operating system that can simultaneously improve working capital, enhance revenue and margin, and improve order-to-delivery speed and predictability? One innovative approach is to select and configure a unique blend of capabilities and strategies, or “supply chain DNA,” across the dimensions of process, information, cash and organization. Over the coming weeks we’ll present a multi-part roadmap to executing that approach-and in the process, achieving all three benefits at once.
SEMA Board of Directors’ Election Results Announced
The results of the Specialty Equipment Market Association (SEMA) board of directors election are final. SEMA, has elected three newcomers and re-elected seven incumbents into office on its board of directors.
Midas Returns To Profitability
Midas has reported net income of $2.6 million — or 16 cents per diluted share — for the second quarter, which ended on July 3. This marks company’s first quarterly net income since the third quarter of 2002. Last year, Midas reported a second quarter loss of $32.7 million — or $2.10 per diluted share — after business transformation charges of $50.8 million — or $1.99 per share — for establishment of an accrual for warranty obligations, asset write-downs and employee severance costs related to the company’s shutdown of its wholesale distribution system.
Leadership for Change: Key Advice for Middle Management Champions
Over the last two months, we have covered the topic of change leadership from a variety of angles. Our goal has been to offer practical advice from 25 years of experience in mentoring successful executive-level change agents. But what do you do if you are a middle manager?
New Video Details Importance of Motor Vehicle Product Suppliers
The Motor & Equipment Manufacturers Association (MEMA) has produced a new video that demonstrates the importance of the motor vehicle product manufacturing industry to the overall automotive industry and to the American economy. The 11-minute video, titled “The Importance of The Automotive Supplier: The Engine Behind the Largest U.S. Manufacturing Industry” was produced as a service to the industry by MEMA in conjunction with its 100-year anniversary celebration.
DST Asks: How Do you Make Strategic Business Decisions
There are almost as many sources of reference for making strategic business decisions as there are choices for planning and securing your future. Our respondents to last week’s question were in agreement that it takes collaborative efforts to design and implement a corporate roadmap, including internal management, consultants, observing and copying competitors’ strategies, industry journals and publications and technology supplier partnerships.
Updated: Cypress Group to Buy Dana AAG Unit
It’s official. Dana Corp. has finally named a buyer for its Automotive Aftermarket Group (AAG). As first-reported early this morning in a ”Breaking News” bulletin from aftermarketNews.com, New York-based buyout firm Cypress Group has agreed to purchase the Dana AAG unit for approximately $1.1 billion in cash. Dana AAG President Terry McCormack and John Washbish, the AAG unit’s president of customer relationship management, along with their executive team will continue with the company. According to Michael Finley, managing director of Cypress, former Echlin top execs Larry McCurdy and Joe Onorato have signed on to serve as directors of the new company.
Heavy Duty Dialogue 2006 to Examine EPA, NHTSA Regulations
Heavy Duty Dialogue 2006 is timed to give heavy duty suppliers the opportunity to discuss important industry topics, such as regulations from the Environmental Protection Agency (EPA) and the National Highway Traffic Safety Administration (NHTSA) scheduled to go into effect in 2007. The biennial conference, organized by the Heavy Duty Manufacturers Association (HDMA), is set for Monday and Tuesday, Feb. 6-7, 2006, at the Atlanta Airport Hilton & Towers at Atlanta’s Hartsfield Airport.
Executive Interview with Scott Meyer, President of MEMA
Our latest edition of “Executive Interview” features Scott Meyer, outgoing chairman of the Motor and Equipment Manufacturers Association (MEMA). As he concludes his time as chairman of the association, he steps into a new role as interim president of MEMA, which is in the midst of celebrating its 100-year anniversary. Join us as Meyer shares his insights on the anniversary of MEMA’s centennial, and what lies ahead for both MEMA and the entire industry.