U.S. Industrial Output Falls 0.2 Percent in March
American industrial production fell 0.2 percent in March, the U.S. Federal Reserve said Friday but was was 3.4 percent higher than in March 2003.In March manufacturing output was flat, while mining production dropped 0.3 percent, and utility output decreased 2.3 percent due to unseasonably warm weather, the Fed said.
Timken Shareholders Elect New Director
Jerry Jasinowski, president of the National Association of Manufacturers (NAM), was elected for a three-year term on the Timken board of directors, expiring in 2007. Jasinowki was elected during Timken’s annual shareholders meeting held yesterday. James Griffith, John Luke, Jr., Frank Sullivan and Ward Timken have also been re-elected for three-year terms expiring in 2007.
Dave Caracci Elected New AAIA Chairman of the Board of Directors
AAIA has elected its officers and board of directors for the 2004-2005 term at its spring meeting in Phoenix, Ariz.
USA Industries Hosts Visit With President George W. Bush
President George W. Bush stopped by Bay Shore, N.Y.-based USA Industries on March 11 as part of his initiative to address job growth in the U.S. USA Industries President and Owner Vincent Trapani greeted President Bush with a brief factory tour. While there, the president held a discussion about job creation and the economy. Approximately 700 people attended the event, including 200 USA Industries employees and their family members, customers, sales reps, service partners, as well as national and local press. New York State Governor George Pataki and several other federal, state and local political figures were also in attendance.
Attorney Shirley Peterson Elected to Goodyear Board
Attorney Shirley Peterson has been elected to Goodyear Tire & Rubber’s board of directors. The recipient of a number of national awards, Peterson began a 20-year career as an attorney with the law firm of Steptoe & Johnson in Washington, D.C., in 1969, becoming a partner in 1978. In 1989, she accepted an appointment by President George H.W. Bush as assistant attorney general, Tax Division at the U.S. Department of Justice. Peterson remained there until 1992, when President Bush appointed her commissioner of the Internal Revenue Service.
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.
Cold Steel, Hard Times for Industrial Suppliers
On one hand, Ed Hoener is being forced to pay 30 percent more for cold-rolled steel since the start of the year. On the other are customers who won’t accept higher prices from Hoener, or fight him for months before finally paying.
Executive Interview with Joe Puishys, President of Honeywell Friction Materials
Our latest edition of “Executive Interview” features Joe Puishys, president of Honeywell Friction Materials. A 25-year veteran of the company’s automotive businesses, Joe Puishys has served as president of Honeywell Friction Materials since early 2002. His responsibilities include overseeing the most recent corporate effort to align closely with Honeywell’s business initiatives and operating plan. He has already played a major role in the cost cutting and six sigma programs occurring throughout the organization. Join us as Puishys gives us an update on Honeywell Friction Materials, including plans to expand manufacturing operations and launch new products.
Experts Warn Industry’s Growth in South Carolina Will Be Flat at Best
South Carolina is chasing automotive manufacturing jobs even as the industry’s work force is slipping away from the U.S. Some experts warn South Carolina will lose its auto jobs too, as automakers and parts companies move jobs abroad or squeeze out jobs at home through efficiency gains. Some experts warn South Carolina will lose its auto jobs too, as automakers and parts companies move jobs abroad or squeeze out jobs at home through efficiency gains.
ASA Launches New Government Affairs Web Site
The Automotive Service Association (ASA) has launched a new Web site to help communicate with federal and state representatives about issues impacting the automotive repair industry. According to a press release issued yesterday, the new Web site will help ASA and its members “mobilize support or dissent for issues directly impacting the automotive repair industry on both federal and state levels.”