MEMA Honors Sen. Alexander and Rep. Knollenberg with Joe Magliochetti Industry Champion Award
Sen. Lamar Alexander (R-Tenn.) and Rep. Joe Knollenberg (R-Mich.) were recently honored as inaugural recipients of the Joseph M. Magliochetti Industry Champion Award, presented by the Motor & Equipment Manufacturers Association (MEMA) on May 5. The award, which was created to honor the work of legislators helping to advance the automotive industry, was presented at a special dinner during the first MEMA Legislative and Public Policy Summit in Washington, D.C.
Drivers Hope Rule Changes Make Indy 500 More Competitive
Don’t be alarmed to see cars going slower around Indianapolis Motor Speedway this month. It’s intentional, and depending on which driver is talking, not necessarily a bad thing.
DST Asks:Does Your Multi-Store Business Management System Capture and Consolidate Operating Information?
It’s the American way. Start your own business. Perfect your methods. Hire good people. Grow your customer base. Perfect the idea at one location, then expand by adding new locations that share the same business model. Thousands of successful retail enterprises have started in exactly this way. It’s a fundamental way to apply the principle we all learned in Economics 101 – economies of scale. Business 101 would call it leverage. Good entrepreneurs call it survival!
Stanford Business School Study Finds Economic Incentives Do Inspire New Products – To a Point
With product life cycles becoming ever shorter, today’s key to market success is speed — continuously creating new items or ever more novel iterations of old ones. Nissan, for instance, has succeeded in a tough automotive market by focusing on frequently designing new models. Logitech has produced a string of ever-changing mice and keyboards in the computer industry. This emphasis on rapid change means that finding ways to motivate product development managers has become critical to business success.
Herman Trend Alert: Whither Creativity?
Creativity has been highly valued for centuries. The ability of artists, musicians, writers, explorers, scientists, pioneers and business leaders to create new ideas, approaches, processes and ways of thinking have been admired and honored. The results of these treasured creative people have contributed to the development of new products, art forms, countries, and mankind’s reaching into the mysteries of space beyond our planet.
Gessford Machine Inc. Named 2004
George Anderson, owner of Gessford Machine in Hastings, Neb., has been named the 2004 “Machine Shop of the Year” award by Engine Builder magazine and the Engine Rebuilders Association (AERA). AERA is a not-for-profit trade association, serving the engine rebuilder/remanufacturing industry, machine shops, equipment, parts and services suppliers since 1922.
DST Asks: Does Your Business System Include Enhancements to Help Manage and Collect Outstanding Receivables?
Regardless of the size of your business, accounts receivable collections and credit management are a never ending task. Having proper credit and collections procedures in place that are solely dependent upon the utilization of your personnel’s time can be a costly endeavor. Technology can dramatically reduce those costs.
DENSO Earns 2004 Climate Protection Award from EPA
The U.S. Environmental Protection Agency (EPA) has awarded its 2004 Climate Protection Award DENSO Corp., Toyota Motor Corp. and Toyota Industries Corp., which together comprise the Electrical Inverter Air Conditioning Team. The team developed an electrical inverter air conditioning system that provides cooling for the new 2003 Toyota Prius during “idle” stop when the engine shuts down to save fuel and emissions. The team was one of 12 organizations and individuals to receive the award.
Mark Armstrong to Retire From Cooper Tire & Rubber
Cooper Tire & Rubber Vice President Mark Armstrong has announced his retirement after 26 years with the company. Armstrong started out as a territory manager for Cooper in the Eastern Region. He subsequently served in numerous positions in sales and marketing until his most recent promotion to executive vice president of the Tire Group, responsible for sales and marketing for global tire operations.
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.