Former Delphi Exec Named Federal-Mogul VP of Sales and Marketing
William “Steve” Bowers has been appointed senior vice president, sales and marketing for Federal-Mogul. He was also named a member of the strategy board and an officer for the company. Bowers comes to Federal-Mogul from Delphi, where he most recently served as executive director of sales, marketing and planning for the energy & chassis division.
Goodyear Completes Acquisition of South Pacific Tyres
Goodyear Tire & Rubber Co. said has completed the previously announced acquisition of Ansell Limited’s interest in their South Pacific Tyres (SPT) joint ventures. Goodyear now owns 100 percent of SPT, the leading tire marketer and manufacturer in Australia and New Zealand.
GM Expects Improved 2006, 2007
General Motors Corp. Chief Executive Officer Rick Wagoner said Friday that he expects the company to report better financial results this year and in 2007, as cost cuts and the launch of new full-size SUVs help the automaker recover from a disastrous 2005.
Race-Car Driver, Businessman Steve Carbone, 61, Dies
Steve Carbone, a world-champion race car driver and owner of Steve Carbone Racing Engines in Tulsa, OK, died earlier this week. He was 61. Carbone was born March 17, 1944, to Bette and Paul Carbone in Bell, CA, and attended Downey High School in California.
Goodyear to Own 100 Percent of South Pacific Tyres
The Goodyear Tire & Rubber Co. has reached an agreement in principle on the final terms to acquire Ansell Limited’s interest in their South Pacific Tyres (SPT)joint ventures, pending government and other approvals.
Herman Trend Alert: Attrition is an International Problem
Employers who have difficulty retaining their valued employees often dismiss the problem as being unavoidable or an anomaly in their industry. In a futile attempt to find excuses, many companies cite whatever comparative numbers they can discover to justify their losses. They point fingers at other employers instead of addressing their own shortcomings. Time is running out. Employee turnover is creating problems across industries and across international boundaries.
SORL Auto Parts Signs 21 Letters of Intent with European Customers
SORL Auto Parts, Inc. a Chinese manufacturer and distributor of automotive air brake valves and hydraulic brake valves primarily for the commercial vehicle market, has signed 21 letters of intent with new European customers. Under the terms of the letters of intent, SORL will supply truck brake products to its new European customers from December through March 2006, and the company anticipates generating $2 million in revenue.
PPG Shows Future Color Trends
Only a handful of people know what new vehicles will look like in 2009. But automotive paint supplier PPG Industries Inc. already has a good idea what colors those vehicles will be. Blue will get more popular in the next four years as more dramatic shades are introduced, such as watery blue-greens and smoky lilacs. Yellows and oranges will get richer and warmer. Reds will glow in deep shades of cranberry and wine, and dark brown will make a comeback.
Alcoa Forms Automotive Castings Alliance with Korean Parts Manufacturer
Alcoa has signed a letter of intent (LOI) to form an alliance with auto parts manufacturer Seohan Industries Co., Ltd. of Korea through which the two companies will jointly produce cast aluminum chassis and suspension components and modules for the automotive industry in South Korea, Japan, China and Australia.
Herman Trend Alert: Is Offshoring Waning?
For years, the United States and some other developed countries have been sending jobs to less-developed countries. In most cases, the motivation has been cost-savings, almost always in labor costs. It was assumed that workers in the receiving countries would be able to perform the work at least as effectively as the workers who had held their jobs for years, sometimes for decades.