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.
SEMA Expands Installer/Specialist Test Programs with Custom Wheel and Tire Accreditation Test
SEMA has added a custom wheel and tire specialist exam to its battery of certification tests. The new test, known as Z5, will measure real-world knowledge and skills of the wheel and tire professionals who install custom applications on passenger cars and light-duty trucks. SEMA has added a custom wheel and tire specialist exam to its battery of certification tests. The new test, known as Z5, will measure real-world knowledge and skills of the wheel and tire professionals who install custom applications on passenger cars and light-duty trucks.
Johnson Controls’ Earnings Up 17 Percent
Johnson Controls Inc. said quarterly earnings rose 17 percent, with both its automotive parts and building controls businesses reporting double-digit sales gains. Johnson Controls also eliminated a few dozen jobs at its Milwaukee controls division, even as it plans to expand the business by about 100 jobs, the company said Wednesday.
Suppliers Use Show as Bridge to Buyers
Most people think of Detroit’s auto show as a glitzy showcase for the latest cars and trucks from automakers around the globe. But auto parts makers increasingly are using one of the most influential auto shows in the world to promote their wares to the vehicle manufacturers that buy them and the consumers who use them.