Car Care Council Women’s Board Expands Scholarship Program in 2004
The Car Care Council Women’s Board is increasing the number of scholarships it will be awarding in 2004, in an effort to recruit and retain talented women in the automotive aftermarket industry. The Women’s Board will be awarding a $1,000 scholarship and two $500 scholarships to female students who have completed at least one year in an ASE-certified, post-secondary automobile technology program and plan on entering the automotive field upon graduation. In addition, two $500 scholarships will be awarded to high school female students who will attend an ASE-certified, post-secondary automobile technology program and plan on entering the automotive field upon graduation.
Choice of Plant Upsets Steel Workers Union
Goodyear Tire & Rubber Co. may have violated its contract with the United Steelworkers of America by deciding to build a new line of passenger tires at a nonunion plant in Lawton, Okla., the union said. But the Akron tire maker denies it has broken the contract, and said it has no plans to move production of its new Assurance all-season radial tires to a union factory. The disagreement comes just five months after the two sides signed a new three-year contract, following months of tense bargaining that threatened to escalate several times into a strike or lockout.
Republic Names George Strickler CFO
Former BorgWarner Executive Vice President and CFO George Strickler has been named executive vice president and CFO for Republic Engineered Products, one of North America’s largest producers of special bar quality steel. Prior to joining BorgWarner in 2001, Strickler served as vice president of finance for Akron, Ohio-based Goodyear Tire & Rubber Co. He held finance and treasury positions at the tiremaker for 30 years. He was also executive vice president and CFO at Lake West Group, a retail consulting company based in Cleveland, Ohio.
Snap-on Appoints Former BorgWarner CEO and Chairman to Board
John Fiedler, retired chairman and CEO of BorgWarner, has been appointed to Snap-on’s board of directors. Fiedler served as BorgWarner’s chairman and CEO until 2003. Prior to 1995, he was president and COO. During his tenure, BorgWarner increased its revenues from $800 million to roughly $3 billion.
Tower Automotive Retirees Will See Health Premiums Soar
About 1,200 retirees of Milwaukee’s Tower Automotive plant who opt to keep their current medical coverage will see their monthly health insurance premiums quadruple, or more. Premiums for some of the retirees have increased to more than $1,000 a month. Company officials say skyrocketing healthcare costs have given them no choice but to raise the premiums.
ASA Planning ‘Celebration of Excellence’
The Automotive Service Association (ASA) is finalizing plans for the “Celebration of Excellence” which will take place Friday, Nov. 5 at the Flamingo Las Vegas. The event will honor the achievements of ASA members and other industry leaders. The program will include a graduation ceremony recognizing those who have earned the Automotive Management Institute’s Accredited Automotive Manager (AAM) designation, as well as the presentation of a number of awards, including the Chairman’s Award of Excellence, a humanitarian award and a legislative award.
Automotive Communicators Discuss Preparing For and Dealing With Crisis
The Automotive Public Relations Council (APRC), the professional peer group of the Motor & Equipment Manufacturers Association, will examine the issue of “Dealing with Crisis” during its annual Spring Conference. Slated to take place Wednesday, April 21, at the Dearborn Hyatt Regency in Dearborn, Mich, this event will provide insight on how automotive public relations professionals should plan and execute successful crisis communications strategies.
Federal-Mogul Reports Loss
Federal-Mogul lost $120.7 million in the final three months of 2003, 7 percent more than it lost in the same quarter of 2002. For the year, the Southfield-based automotive supplier, which makes such products as Champion spark plugs, Anco wipers and Wagner lights, lost $189.5 million. That’s far below 2002’s net loss of $1.6 billion, which included a $1.4-billion accounting charge.
Genuine Parts Co. Reports 2003 Results
Completing its 76th year in operation, Genuine Parts Co. (GPC) has reported sales and earnings for the year, which ended December 31, 2003. Sales in 2003 were $8.4 billion, up 2.3 percent compared to the previous year. Net income for the year, before the cumulative effect of changes in accounting principles related to cash consideration from vendors and goodwill, was $354 million, compared to $368 million, for the same period in the prior year, a decrease of 4 percent.
Advance Auto Parts Reports Record Fourth Quarter and Fiscal 2003 Results
Advance Auto Parts has reported record revenue and earnings for its fourth quarter and fiscal year, which ended January 3. Fiscal 2003 included 53 weeks of operations compared to 52 weeks in 2002, with the additional week falling in the fourth quarter of 2003. Sales increased 19.2 percent in the fourth quarter to $821.3 million from $689.2 million.