Goodyear Releases 2003 Financial Results
Despite record sales of $15.1 billion and some bottom-line improvements, Goodyear Tire & Rubber Co. reported a full-year 2003 net loss of $802.1 million or $4.58 per share. The 2003 net loss also included a -$56.2 million restatement for the year, part of a total of $164.8 million in additional net losses over the 1997-2003 period.
Lear Announces Organizational Changes
The board of directors of Lear Corp. have announced a number of organizational changes.
Job Without Glitter May Be Gold — Skilled ‘Blue-Collar’ Workers Get Top Dollar
Think you have to earn a college degree to collect a hefty paycheck? Think again. A work-force shortage is driving up demand – and salaries – for skilled workers in “blue-collar” trades within the construction, automotive, health-care and service industries.
Toyota Earnings of $10 Billion Solidify Hold on 2nd Place
Toyota Motor on Tuesday became the first Japanese company to report a net profit of more than a trillion yen, or about $10 billion, firmly establishing its position as the world’s No. 2 automaker ahead of Ford Motor.
Herman Trend Alert: Competitive Intelligence
A central strategy for many companies today is to push productivity higher and higher. They accomplish this objective by creatively applying technology and driving employees to perform at higher levels and work longer hours. These practices are risky, exposing the companies to an over-dependence on technology and high stress, burn-out, and dissatisfaction among employees.
Transpro Names Paul Verdile Senior Product Manager
Transpro has appointed Paul Verdile senior product manager for its Automotive Light Truck Heat Exchanger Business Unit. In this position Verdile will be responsible for all product development and strategic planning functions for product lines that include Ready-Rad radiators and Ready-Aire heater cores and air conditioning condensers. He will report to Layne Gobrogge, Transpro’s vice president of marketing and will be based in New Haven, Conn.
Goodyear Files Antitrust Lawsuit for Price Fixing
Goodyear Tire & Rubber has filed an antitrust lawsuit against suppliers of Ethylene Propylene Diene Monomer (EPDM) alleging price fixing and anti-competitive conduct in violation of the federal Sherman Act antitrust laws. EPDM (Ethylene Propylene Diene Monomer) is a synthetic rubber that is used in rubber-containing products to improve their strength, and EPDM has excellent resistance to heat, oxidation, ozone and weather aging due to its stable, saturated polymer structure. Goodyear uses EPDM in tires, hoses and belts, for example.
“Brain Reserve” Consultant to Address the Impact of Female Consumers on the Aftermarket at GAAS
Tiffany Vasilchik, a senior consultant with Faith Popcorn’s Brain Reserve firm, will address the subject of the emerging influence of women on the aftermarket. Her presentation — “Futurescape: How Trends and The Female Consumer Are Driving Change in the Automotive Aftermarket” — will take place on Tuesday, May 18 at the Global Automotive Aftermarket Symposium (GAAS) in Chicago.
SBC Recognizes Parts Plus for Technical Innovation
SBC Communications Inc. recently honored Parts Plus for outstanding achievement in Technical Innovation. SBC recognized Parts Plus for its efforts in developing an integrated solution for Internet-based ordering and billing of motor-vehicle parts for the telecommunications company’s automotive-business customers.
Who’s Tops in the Aftermarket? Find Out in AASA Top 100 Suppliers List
The 2004 Automotive Aftermarket Suppliers Association (AASA) Top 100 Automotive Aftermarket Suppliers list will be distributed this month with Counterman magazine. The list, now in its second year, has been expanded to include the top 100 suppliers (up from 70 in 2003).