BorgWarner Profits Up
BorgWarner Inc., the largest maker of automatic-transmission parts for vehicles, said fourth-quarter profit rose to $50 million. BorgWarner Inc., the largest maker of automatic-transmission parts for vehicles, said fourth-quarter profit rose to $50 million.
Asbestos Bill Headed for Showdown
Senate Judiciary Committee Chairman Orrin Hatch (R-Utah), has acknowledged that asbestos litigation reform legislation (S1125) as currently drafted is unlikely to gain the necessary 60 votes required to end debate in the Senate. The legislation is a priority of Majority Leader Bill Frist (R-Tenn.), and he is working with high-ranking Democrats in an attempt to develop a compromise bill that will draw the necessary votes to overcome the expected filibuster. Key to the discussion is the amount of money contained in a trust fund to pay claims as well as the size of individual claims.
Bill Grote Names Eric Morris President and COO of Grote Industries, Grote to Assume Chairman/CEO Role
Eric Morris has been appointed to the newly created post of president and COO at Grote Industries. William (Bill) Grote III will assume duties of chairman and CEO at the 103-year-old family owned company. Grote Industries is a designer and manufacturer of vehicle safety systems. Headquartered in Madison, Ind., Grote manufactures LED and incandescent lamps, mirrors, obstacle detection systems, reflective accessories and wiring components. The company has other manufacturing plants in Toronto and Waterloo, Canada, as well as Monterrey, Mexico.
Treading a New Path
Goodyear Tire & Rubber Co. is hoping to make a huge splash with a new high-end line of all-season tires. The Akron, Ohio-based company will roll out its Assurance line this spring with its biggest advertising blitz in more than a decade. Goodyear is counting on the new tires to help deliver a turnaround after four years of disappointing sales.
Automechanika Exhibit Space Selling Out
With strong early sales of space in the U.S. Pavilions at Automechanika, Sept. 14-19, especially in Hall 1 (parts and components) and Hall 8 (garage, tools and equipment), interested firms should call the pavilion organizer soon to reserve space.
Compuware Panning to Buy Covisint
Compuware Corp., the largest high-tech company based in Michigan, is expected to announce that it will purchase financially struggling Covisint LLC, according to documents on Compuware letterhead obtained by the Detroit Free Press. The acquisition, expected to be completed within 30 days for an undisclosed “small cash transaction,” ends the most expensive Internet start-up and flop ever launched in Michigan.
Dana Names GM Europe Exec Michael Burns CEO and President, Acting President Bill Carroll to Retire
Dana Corp.’s board of directors has named Michael Burns CEO, president and a director of the company, succeeding the late Joe Magliochetti, who passed away Sept. 22, 2003. Burns, who has been president of General Motors Europe since 1998, will officially take over on March 1. Bill Carroll, who has served as acting president and COO since September, will continue in these positions until March 1, at which time he will retire from the company.
ASA Appoints John Scully Executive Vice President
The Automotive Service Association (ASA) has appointed John Scully, AAM, to the position of executive vice president. Scully has served as ASA’s vice president of member services and operations since 1998. In announcing the promotion, Ron Pyle, ASA’s president and chief staff executive, said, “John has proven himself as a strong leader who considers the needs of our members as his top priority. Elevating his position to executive vice president equips John with the resources and authority needed to efficiently and effectively serve our members and this industry.
NASTF to Meet March 8 in Detroit
The National Automotive Service Task Force (NASTF) will meet March 8 in conjunction with the SAE Congress in Detroit, Mich. The meeting will be held at 6:30 p.m. at the Detroit Marriott Renaissance Center in downtown Detroit. NASTF meets semi-annually with committees meeting throughout the year.
Delphi Integrated Service Solutions Appoints Three New Directors
Delphi has announced the appointment of three new directors in sales and marketing, operations and engineering for Delphi Integrated Service Solutions, part of Delphi Product & Service Solutions. Delphi Integrated Service Solutions provides computer-implemented workflow management and vehicle diagnostic systems that enable service writers, shop owners and technicians to increase productivity and drive consumer satisfaction.