Federated Auto Parts Announces “Vendors of the Year”
Federated Auto Parts announced its 2003 “Vendors of the Year” at its annual meeting held May 12-15 in Salt Lake City. The awards were presented by Federated Chairman of the Board Bo Fisher and Rusty Bishop, Federated CEO, at the awards luncheon held May 14.
Ninth Annual GAAS Kicked Off in Chicago
While the theme of this year’s Global Automotive Aftermarket Symposium (GAAS) — Leaner, Faster, Better — may connote the automated efficiency of a well-run machine, the true focus of the day’s numerous presentations was on the talented pool of people who make up that machine and how to make better use of them. “The core of any great business is the people,” said GAAS founder and chairman Mort Schwartz, who welcomed approximately 400 aftermarket executives to the event.
Federated Auto Parts Announces Vendors of the Year
Federated Auto Parts announced its 2003 Vendors of the Year at its annual meetings held in Salt Lake City May 12-15. The awards were presented by Federated Chairman, Bo Fisher and Rusty Bishop, Federated CEO, at the awards luncheon held May 14.
Senate Passes Corporate Tax Bill
The Senate passed legislation this week on S. 1637, that would replace the Foreign Sales Corporation (FSC) tax benefit for exporters with a $170 billion, 10-year tax break package. The 92-5 vote for passage brings the U.S. closer to ending European Union (EU) tariff sanctions imposed on certain U.S. products, after the U.S. failed to end the current tax break ruled in violation of World Trade Organization (WTO) agreements.
Goodyear Files Antitrust Lawsuit for Price Fixing
Goodyear Tire & Rubber has filed an antitrust lawsuit against suppliers of Ethylene Propylene Diene Monomer (EPDM) alleging price fixing and anti-competitive conduct in violation of the federal Sherman Act antitrust laws. EPDM (Ethylene Propylene Diene Monomer) is a synthetic rubber that is used in rubber-containing products to improve their strength, and EPDM has excellent resistance to heat, oxidation, ozone and weather aging due to its stable, saturated polymer structure. Goodyear uses EPDM in tires, hoses and belts, for example.
DST Asks: What Information Would You Like to Capture About Your Customer Base?
“Can I have your telephone number?” That’s not just a question asked by a hopeful suitor after a chance meeting and lingering cocktails with another stranger in the night anymore. It’s now heard every time a pack of batteries is sold at any RadioShack in the country. And who said romance is dead?
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.
Two Collins & Aikman Board Members Resign
Two board members investigated internally for insider deals have resigned from auto supplier Collins & Aikman Corp. (C&A), which has lost money three years in a row, and on Thursday reported another first-quarter loss. The quarter’s red ink was slightly less than it was the same period a year ago.
MEMA Holds First Automotive Suppliers’ Legislative and Public Policy Summit
Automotive suppliers, members of Congress and federal agency heads met to discuss automotive safety, energy and the environment, international trade and soaring health care and pension costs during the “MEMA Legislative and Public Policy Summit: Advancing American Manufacturing,” held May 5-6 in Washington, D.C.
Growing Auto Parts Market in China is an Opening for New Business Models
Last year was a remarkable year for the automobile market in China. Car production grew 80 percent and domestic car sales soared nearly 70 percent over the year before. During 2003 the total import to China of cars and car parts grew 86 percent over 2002. China now ranks fourth in automobile production and third in automobile sales in the world. According to PRCDirect — a consulting firm which specializes in the Chinese market — this sales growth is creating a corresponding demand at the aftermarket and OE levels.