Prominent ASA Leader Passes Away
Allen Richey, former CEO of the Automotive Service Association (ASA), passed away early Wednesday morning, April 21. He began his association career as editor of the 11-member Independent Garagemen’s Association (IGA) of Texas’ monthly magazine. As his responsibilities with IGA grew, he worked to provide training and education to association members. His vision for offering training and education to the automotive repair and service industry was realized in the formation of the Automotive Management Institute (AMI). As a result of his lifelong devotion and commitment to the industry, Richey was instrumental in the successful merger of two renowned automotive associations, the Automotive Service Council and the Independent Automotive Service Association, to form what is now ASA.
Douglas Battery Names New Sales and Marketing VP
Douglas Battery recently named William Spears to the position of vice president of sales and marketing for the company’s automotive division. Spears, a 20-year veteran of the automotive industry, began his career in auto parts with Mid-American Industries (Green Light Auto). Since that time, he has developed comprehensive sales programs for some of the world’s top battery manufacturers.
Senate Vote Delays Asbestos Legislation Debate
A motion to limit Senate debate and proceed with consideration of asbestos trust fund legislation failed yesterday by ten votes (50 – 47). Sixty votes are needed for such “cloture” motions to pass. Democrats argued that the bill, S. 2290, was not ready for Senate consideration and called for further negotiations to reach compromises on key issues such as higher compensation amounts paid by the fund to eligible victims. Senate majority leader Bill Frist (R-Tenn.), and Sen. Tom Daschle (D-S.D.), announced plans for bipartisan talks to craft a bill that can be passed this year.
Herman Trend Alert: Transnational Job Movement
Many Americans are upset about the migration of jobs to countries like India and China. While the perception is that a huge proportion of jobs is permanently leaving the U.S., the reality seems to be considerably different.
Tire Shipments Gain Momentum This Year: RMA
According to the Rubber Manufacturers Association (RMA), tire shipments will grow 3.2 percent overall in 2004, due to a rebound in the commercial trucking sector and a strengthening U.S. economy. Tire shipments for 2003 increased by 0.6 percent, compared to 2002 levels, said the RMA, as a result of a strong replacement tire market demand being offset by a decline in light vehicle OE tire markets.
Monro Muffler Brake Updates Outlook
Monro Muffler Brake has updated its outlook for fiscal 2004, which ended on March 27. The company also updated its financial outlook for fiscal 2005. The company said it currently anticipates fourth quarter diluted earnings per share to be between 15 and 16 cents, which is within the company’s previously announced range of 14 to 17 cents per share.
Herman Trend Alert: Where the Jobs Are (Or Will Be)
One of the major problems faced by employers in the U.S. and in other countries is a shortage of skilled workers. Employers are struggling to find thousands of qualified Heating and Air Conditioning engineers, specialized computer programmers, imaging technicians, pharmacists, hotel clerks and even housekeepers. These jobs exist now, not just in some future scenario.
Bank One Sues Venture, Affiliates
Bank One Corp. has filed a foreclosure lawsuit against bankrupt auto supplier Venture Corp. and related companies owned by its former owner, Larry Winget. The bank says it’s not trying to close down Venture or disrupt its operations, but it wants to ensure that the businesses owned by Winget are merged back into Venture. The suit was filed Tuesday.
Texas-Based MSD Ignition Bought by Gryphon Investors
MSD Ingnition, a manufacturer of products for the high performance segment of the aftermarket, has been bought out by Gryphon Investors, a private equity firm based in San Francisco, Calif. Gryphon Investors purchased 100 percent ownership of El Paso, Texas-based Autotronic Controls Corp. and its MSD Ignition brand on April 8.
USA Industries Hosts Visit With President George W. Bush
President George W. Bush stopped by Bay Shore, N.Y.-based USA Industries on March 11 as part of his initiative to address job growth in the U.S. USA Industries President and Owner Vincent Trapani greeted President Bush with a brief factory tour. While there, the president held a discussion about job creation and the economy. Approximately 700 people attended the event, including 200 USA Industries employees and their family members, customers, sales reps, service partners, as well as national and local press. New York State Governor George Pataki and several other federal, state and local political figures were also in attendance.