Tower Takes Charges, Posts Loss
Tower Automotive Inc., the world’s largest maker of vehicle frames, had a fourth-quarter loss of $24.7 million because of expenses for restructuring operations and writing down assets. The loss was 43 cents a share, compared with profit of $17.3 million, or 29 cents, a year earlier. Sales rose 5.2 percent to $717 million from $681.6 million, the Novi-based company said.
Tower Plant Move to Affect Nearly 500 Employees
Earlier this week, Tower Automotive announced that in 2005 it will move production of Dodge Ram frames from its facility in Milwaukee to a plant in Mexico. In response to this news, the Milwaukee Journal Sentinel ran a story detailing the impact this move with have on Wisconsin’s manufacturing base. According to the Sentinel report, nearly 500 Milwaukee factory workers will lose their jobs as a result of the move. Almost 80,000 factory jobs have already disappeared from Wisconsin since 1999, the article stated.
ASA Chief Staff Executive Addresses Consumer, Insurer Issues on Two CBS Programs
The Automotive Service Association (ASA) and its Chief Staff Executive Ron Pyle played a significant role in two CBS programs that addressed the issue of insurer-owned body shops. Pyle was recently interviewed at ASA’s headquarters in Bedford, Texas, and appeared Wednesday, Feb. 11, on the “CBS Evening News” during its “Eye on America” segment. On Thursday, Feb. 12, Pyle provided follow-up coverage on this issue when he was interviewed again by CBS during an appearance on “The Early Show.”
CBS News to Address Insurer-Owned Shop Issues This Week, ASA’s Ron Pyle to Be Featured
Two CBS programs are scheduled to address the insurer-owned body shops issue this week. The first program is slated to air today, Wednesday, Feb. 11, on the CBS Evening News during its “Eye on America” segment. Ron Pyle, ASA’s president and chief staff executive, was recently interviewed for the segment at ASA’s headquarters in Bedford, Texas. Pyle will provide follow-up coverage on this issue when he is interviewed again by CBS during an appearance on The Early Show Thursday, Feb. 12.
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.
Neil Peters, Former TBEA Division President, Dies
Neil Peters Jr, former president of the Michigan-Ohio Regional Division of the Truck Body and Equipment Association (TBEA) from 1972-1973, died Jan 2, at home.
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.
Compuware Panning to Buy Covisint
Compuware Corp., the largest high-tech company based in Michigan, is expected to announce that it will purchase financially struggling Covisint LLC, according to documents on Compuware letterhead obtained by the Detroit Free Press. The acquisition, expected to be completed within 30 days for an undisclosed “small cash transaction,” ends the most expensive Internet start-up and flop ever launched in Michigan.
Ward’s Reports Estimated Production
Vehicle production last week in the U.S., Canada and Mexico was expected to hit an estimated 339,878 units, up 15 percent from the 295,481 cars and trucks built last week, according to Ward’s Automotive Reports.
ASA Appoints John Scully Executive Vice President
The Automotive Service Association (ASA) has appointed John Scully, AAM, to the position of executive vice president. Scully has served as ASA’s vice president of member services and operations since 1998. In announcing the promotion, Ron Pyle, ASA’s president and chief staff executive, said, “John has proven himself as a strong leader who considers the needs of our members as his top priority. Elevating his position to executive vice president equips John with the resources and authority needed to efficiently and effectively serve our members and this industry.