Aftermarket Symposium Panel To Discuss Upcoming Underhood Trends for 2010
A panel of automotive aftermarket suppliers will discuss “Under the Hood Car Trends/Future 2010” at the ninth annual Global Automotive Aftermarket Symposium (GAAS). GAAS 2004 is set for Tuesday and Wednesday, May 18-19, at the Hyatt Regency, Chicago. The panel will take place at 9:15 a.m. on Tuesday, May 18.
Aftermarket Symposium Panel To Discuss Upcoming Underhood Trends for 2010
A panel of automotive aftermarket suppliers will discuss “Under the Hood Car Trends/Future 2010” at the ninth annual Global Automotive Aftermarket Symposium (GAAS). GAAS 2004 is set for Tuesday and Wednesday, May 18-19, at the Hyatt Regency, Chicago. The panel will take place at 9:15 a.m. on Tuesday, May 18.
American Axle Gets 2-Tiered Pay Plan In Tentative Deal
The UAW’s quick settlement Friday morning of the one-day strike at American Axle & Manufacturing Inc. in Detroit finds the union again authorizing a concept it once loathed — a two-tier wage structure that ensures future employees never make as much as current ones.
American Axle Strike Causes GM to Idle Plant
In a move that already is rippling through the auto industry, about 6,500 UAW auto-parts workers hit the picket lines Thursday morning at American Axle & Manufacturing Inc. in Detroit and other cities. A 4-year contract with UAW members at American Axle, one of the world’s largest auto suppliers, expired at midnight Wednesday and the two sides could not reach a tentative agreement. By late Thursday the strike already was affecting General Motors Corp., American Axle’s biggest customer and former owner.
American Axle UAW Contract Expires at Midnight, Accord Expected
The 4-year UAW contract covering 7,500 workers at Detroit-based American Axle & Manufacturing Inc. will expire at midnight tonight. Negotiations between the two sides began in December but have yet to produce an agreement. Two UAW officials, who asked not be named, said a tentative agreement should be reached today.
Cavanaugh Named Assistant Treasurer at Goodyear
Goodyear Tire & Rubber has named John Cavanaugh assistant treasurer. Cavanaugh joined Goodyear in July 2003 as director, treasury. Prior to that, he had been director of capital markets for Visteon. Cavanaugh joined the autoparts maker in June 2000 as manager of cash and pension investments. He worked at Kmart Corp. in financial analysis and treasury from 1998 to 2000.
New Ideas Should Help Old Favorite
After getting whacked by big upheavals in the automotive supply world, the wobbly SAE World Congress, Detroit’s biggest and most important trade show, seems to be finding its legs again.
MACS Installs 2004 Board and Officers
New officers and board members were sworn in during the MACS annual membership meeting Jan. 24. Serving as officers in 2004 are: Chairman — Michael Deese, Santech Industries, Ft. Worth, Texas; Vice Chairman — Gus Swensen, Cool Car Auto Air, Columbus, Ga.; Treasurer — Andy Fiffick, Rad-Air Complete Car Care in Garfield Heights, Ohio; and Secretary — Kevin Burton, Four Seasons, Lewisville, Texas.
Who’s Buying Whom?
Who owns the suppliers of today? New owners include leveraged buyout firms, putting a new spin on the old consolidation trend. In the wake of Dana’s announcement to sell off its aftermarket businesses comes the speculation of who will buy it. Water cooler conversations in the office haven’t exactly been at a fevered pitch. That’s a dramatic change from just a few short years ago when SPX was trying to make a hostile purchase of Echlin (which ultimately ended up in the hands of Dana), or when Federal-Mogul was buying up companies as part of former CEO Dick Snell’s major consolidation plan. Those were the good old days of major aftermarket acquisitions. Now, we’re left to ponder the fate of the Dana Automotive Aftermarket Group. The big question is: Who among the current base of manufacturers is a candidate to make such a large acquisition?
Two Michigan Manufacturers Name New Directors of Investor Relations
Lear Corp. has appointed Anne Bork director of investor relations. In her new role, Bork will be responsible for supporting the company’s global investor-relations activities. She will report to Mel Stephens, Lear’s vice president of investor relations and corporate communications. TRW Automotive has also named a new director of investor relations. Patrick Stobb has joined TRW from Visteon where he held the position of manager of investor and shareholder relations since June 2002. Prior to that, he held a number of finance positions with both Visteon and Ford.