Pep Boys CEO Resigns Under Pressure
The chief executive of Pep Boys resigned Tuesday after its two largest shareholders stepped up pressure on the auto parts retailer to turn around the business and prop up a share price that has fallen 24 percent this year.
Business Week Online Adds Classic Car Guru, Ted Welch as Columnist
Ted Welch, longtime journalist and classic car aficionado, recently became a contributing columnist for Businessweek.com . Welch, managing editor of Classiccar.com and Classictruckshop.com , two leading destination websites for classic vehicle enthusiasts, will be featured in the Classic Car section of Businessweek.com’s Auto feature section.
Shifting Landscape Puts UAW on Edge
As far as regional director Jimmy Settles is concerned, his United Auto Workers union needs to polish its image. But recently, when he invited one of the industry’s foremost experts on labor economics to explain how to accomplish this to his Detroit-area local, his phone rang off the hook.
Eaton Reports First Quarter Net Income Per Share up 14 Percent
Eaton Corp. announced net income per share of $1.36 for the first quarter of 2006, an increase of 14 percent over net income per share of $1.19 in the first quarter of 2005. Sales in the quarter were a record $3.01 billion, 14 percent above the same period in 2005. Net income was $208 million compared to $187 million in the first quarter of 2005.
Mitchell International Acquires ClaimIQ
Mitchell International, Inc., announced it has acquired San Francisco-based ClaimIQ, a claims provider for insurance carriers. ClaimIQ will join the Mitchell organization as a business unit of Mitchell’s medical division. All products of both Mitchell and ClaimIQ will continue to be supported and expanded, and a new set of integrated products that combine the strengths of decision support, bill review, and collision estimating will be introduced.
NAAHAC/AIAG Will Have Online HazMat Program For Dealers by Q4 2005
NAAHAC (North American Automotive HazMat Action Committee) announced that CCAR and ShipMate have been unanimously chosen by NAAHAC/AIAG (Automotive Industry Action Group) as the developers and providers for a Hazardous Materials (HazMat) Internet-based training program for automotive dealers.
I-CAR Announces 2005-2006 International Board of Directors
I-CAR announced its 2005 – 2006 International Board of Directors and Executive Committee at the 2005 I-CAR International Annual Meeting in Scottsdale, AZ.
Commercial Vehicle Group Promotes Five Executives to Vice President Positions
Commercial Vehicle Group (CVG), a supplier of interior systems, vision safety solutions and other cab-related products for the global commercial vehicle market, recently promoted five members of its sales team to vice president customer sales. According to Mervin Dunn, CVG president and CEO, the company is experiencing a growth spurt and the addition of these roles will ensure continued, focused commitment to the company’s customers.
AASP Announces Program for AAPEX 2005
The Alliance of Automotive Service Providers (AASP) will be sponsoring a program on Coolant Solutions at the 2005 AAPEX in Las Vegas. The program will be held Thursday, Nov. 3 from 1:30 p.m. – 3 p.m. at the Sands Convention Center.
American Automobile Manufacturers Have Invested More Than $26 Billion in U.S. Over Past Two Decades, Says AIAM
A new study released today by the Association of International Automobile Manufacturers (AIAM) finds that new American automakers have invested nearly $27 billion in new factories and created more than 55,000 new, high-paying jobs over the past two decades.