CARS 2005 Provided Education, Networking, Entertainment
Hundreds gathered during Automotive Aftermarket Industry Week (AAIW) at the 2005 Congress of Automotive Repair and Service (CARS) held at The Mirage in Las Vegas. CARS, in conjunction with the Automotive Service Association’s (ASA) Mechanical Division, is held annually during Automotive Aftermarket Industry Week (AAIW) and focuses on education while also offering entertainment and networking opportunities.
Twenty-Seven New Products Receive AAPEX Awards
Twenty-seven companies that participated in this year’s Automotive Aftermarket Products Expo (AAPEX) New Products Showcase received awards for their innovative new products that enhance the driving experience. Awards were announced on Nov. 1, opening day of AAPEX in Las Vegas.
Timken Earnings Per Share Double on Record Third Quarter Sales; Outlook Raised for Year
Timken today reported record third quarter sales of $1.3 billion, up 15 percent from $1.1 billion last year. Net income of $39.8 million or 43 cents per diluted share, was more than double last year’s third quarter net income of $17.5 million or 19 cents per diluted share. Excluding special items, earnings per diluted share of 58 cents were more than double the 27 cents per diluted share reported a year ago. Special items in the third quarter of 2005 totaled $28.3 million of pretax expense, which was primarily for restructuring automotive operations as well as for industrial manufacturing rationalization.
Early-Bird Registration Extended for CARS
The deadline to take advantage of “early-bird” registration discounts for the Congress of Automotive Repair and Service (CARS) has been extended to Oct. 25. Depending on the registration category, most attendees can save $100 or more off standard registration fees.
UAW Can’t Meet All of Delphi’s Demands
In his first face-to-face meeting with United Auto Workers President Ron Gettelfinger, Delphi Corp. Chairman Robert S. Miller got right down to business. Miller produced a list of his opening demands. They included wage cuts of at least $5 an hour, benefit reductions and work rule changes that together total roughly $2.5 billion in givebacks, according to people familiar with the situation. Otherwise, Delphi likely would seek federal bankruptcy protection.
Editor’s Ink: Help Him Help You
On my way home from the office sometime last year, I noticed some activity going on at a long-abandoned repair facility. Over time, the activity became pretty serious as the new owner was adding much more than just a new coat of paint.
New NASCAR Performance Network TV Spots Set for Indy Debut
The Automotive Licensing division of NASCAR will debut two additional consumer television ads to support the NASCAR Performance Network – a nationwide service initiative of NASCAR helping to connect fans with quality service facilities and parts stores and its Be Car Care Awareinitiative.
iATN Marks 10-Year Anniversary
The International Automotive Technicians’ Network (iATN) will celebrate its 10-year anniversary this July. Created to promote the continued growth, success and image of the professional automotive technician through the exchange of knowledge and education, iATN has grown from a 50-member e-mail group back started in 1995, into an expansive network utilized by more than 45,000 automotive service technicians.
GM Chairman to Take Over Day-to-Day Operations
With troubles at the General Motors Corp.’s mammoth North American car and truck business dragging GM stock to 10-year lows, Chairman and CEO Rick Wagoner surprised investors and insiders alike by announcing he was taking over the day-to-day operations himself.
Executive Interview with Guy Bargnes, Director of Marketing, North American Operations for BASF Corp. Refinish Group
Guy Bargnes has spent his entire life in the collision repair industry. He was born and raised in Buffalo, NY, where his father ran a family business, V. H. Bargnes Co., Inc., which distributed automotive paints, supplies and equipment to area collision shops. In 1992 Bargnes joined BASF full-time, and he is now director of marketing, North American Operations, for the Refinish Group. Bargnes recently sat down to a phone interview with aftermarketNews and shared with us some of the insights from his lifelong career in the industry. Join us as Bargnes talks about BASF’s four leading principles, trends in the refinish business and the return of paint companies to industry trade shows.