Bank One Sues Venture, Affiliates
Bank One Corp. has filed a foreclosure lawsuit against bankrupt auto supplier Venture Corp. and related companies owned by its former owner, Larry Winget. The bank says it’s not trying to close down Venture or disrupt its operations, but it wants to ensure that the businesses owned by Winget are merged back into Venture. The suit was filed Tuesday.
Engine Builders Meet for Third Round of 2004 Clevite Engine Builder Showdown Series
Engine builders for the likes of Kevin Harvick, Jeremy Mayfield and Jeff Gordon took part in a head-to-head competition in the third round of the 2004 Clevite Engine Builder Showdown Series, which took place April 7 at the NASCAR Technical Institute (NTI), in Mooresville, N.C. Engine builders for the likes of Kevin Harvick, Jeremy Mayfield and Jeff Gordon took part in a head-to-head competition in the third round of the 2004 Clevite Engine Builder Showdown Series, which took place April 7 at the NASCAR Technical Institute (NTI), in Mooresville, N.C.
Engine Builders Meet for Third Round of 2004 Clevite Engine Builder Showdown Series
Engine builders for the likes of Kevin Harvick, Jeremy Mayfield and Jeff Gordon took part in a head-to-head competition in the third round of the 2004 Clevite Engine Builder Showdown Series, which took place April 7 at the NASCAR Technical Institute (NTI), in Mooresville, N.C. Engine builders for the likes of Kevin Harvick, Jeremy Mayfield and Jeff Gordon took part in a head-to-head competition in the third round of the 2004 Clevite Engine Builder Showdown Series, which took place April 7 at the NASCAR Technical Institute (NTI), in Mooresville, N.C.
Mark Armstrong to Retire From Cooper Tire & Rubber
Cooper Tire & Rubber Vice President Mark Armstrong has announced his retirement after 26 years with the company. Armstrong started out as a territory manager for Cooper in the Eastern Region. He subsequently served in numerous positions in sales and marketing until his most recent promotion to executive vice president of the Tire Group, responsible for sales and marketing for global tire operations.
Lear Downplays SEC Inquiry
Lear Corp. CEO Robert Rossiter on Wednesday downplayed an informal investigation by the Securities and Exchange Commission into its employment of corporate officers’ relatives and insider business transactions. The head of the Southfield, Mich.-based auto-interiors supplier also told analysts that the probe is strictly related to disclosure — not whether there was financial misconduct. Management, he added, quickly corrected the disclosure omissions as soon as they were pointed out.
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.
Delco Remy Named Advance Auto Parts’ Vendor of the Year Award
Delco Remy International, a global manufacturer and remanufacturer of automotive, powertrain, drivetrain and electrical products, has been named Vendor of the Year for 2003 by Advance Auto Parts. Delco Remy supplies Advance Auto Parts with both domestic and import rotating electrical products.
Motorists Want More Safety Features, Less Frill, Research Finds
Automotive manufacturers, while pushing hi-tech frills, are not meeting customers’ needs for safety related features, according to consumer opinion research.
Siemens VDO Automotive Completes Acquisition of Chrysler Group’s Huntsville Electronics
Siemens VDO Automotive has completed its acquisition of Chrysler Group’s Huntsville Electronics operations. The proposed sale was first announced in mid-February. Siemens VDO Automotive has completed its acquisition of Chrysler Group’s Huntsville Electronics operations. The proposed sale was first announced in mid-February.
Automotive Exterior Market Expected to Grow
The automotive exterior market is expected to grow by more than 10 percent by 2009, according to a report from consulting firm CSM Worldwide. The automotive exterior market is expected to grow by more than 10 percent by 2009, according to a report from consulting firm CSM Worldwide.