SPEED Channel to Remain the Home of Formula One in 2005
SPEED Channel will kick off its 10th consecutive year of live coverage of Formula One Grand Prix racing with the season-opening Australian Grand Prix on March 5 at 9:30 p.m. EST. SPEED Channel will broadcast 15 of the series’ 19 events live, including live coverage of qualifying for all 19 events and weekend race replays on Sundays at 12:30 p.m. ET.
Herman Trend Alert: Training vs. Off-Shoring
Employees in developed countries are increasingly concerned about the number of jobs being moved overseas. Alarmists sound the cry that a huge number of jobs are vanishing from traditional workplaces, spelling the elimination of employment opportunities. Though this perspective stretches the truth, thousands of jobs that had been performed in the U.S., England, Australia, Germany and other places have been moved to countries with considerably lower wage rates. On balance, this shift is good for the economies of developed countries, since employers are able to get more accomplished for less, freeing resources for other uses-like creating more jobs, though different, that can be performed by their own workers.
Industry Reaches Out to Tsunami Victims
Numerous automotive aftermarket industry associations and businesses have been reaching out to the victims of last month’s devastating tsunami in south Asia. The 8.9-magnitude quake hit December 26 off the coast of Indonesia, triggering extremely large waves that have brought massive flooding, damage and loss of life in the region. More than 140,000 are reported dead, with countless others left homeless and injured.
Goodyear to Receive $159 Million in Insurance Settlement
Goodyear Tire & Rubber Co. will receive approximately $159 million from multiple insurance companies as settlement for a lawsuit previously filed by the tiremaker. The $159 million will be paid to the company in installments over the next 15 months. The lawsuit, which Goodyear filed in 1993, sought to have the insurers honor their policies to pay the company’s liability and defense costs in regard to certain environmental claims.
Executive Interview with James Croston, Director of Marketing, Trico Products
Our latest Executive Interview features James Croston, director of marketing, Trico Products. As director of marketing for Trico Products, Croston has surfaced as a leader in today’s highly competitive automotive aftermarket. He has dedicated the last 15 years at Trico to developing new products that fill voids in the marketplace, educating the sellers and the buyers alike and finding better ways of communicating with potential and existing customers. Croston recently shared with us his opinions on the future of the wiper blade segment, as well as details about Trico’s recent product launches for the Innovision and Oktane lines.
Visteon Adds New Distributor in Asia Pacific and Africa
Visteon has established a new distributor relationship in the Asia-Pacific region and Africa. Digital Video Systems, Inc. has become the first aftermarket distributor of Visteon’s Dockable Family Entertainment System, covering Asia Pacific and Africa
Goodyear Reports $36.5 Million 3Q Net Income; North American Unit Volumes Stable
The Goodyear Tire & Rubber Co. reported net income of $36.5 million (21 cents per share) for the third quarter of 2004. The tiremaker experienced growth in both sales and unit volume.
Tenneco Automotive Reduces Salaried Work Force; Consolidates Business Units
As part of a global restructuring plan, Tenneco Automotive announced today that it will eliminate up to 250 salaried positions, about six percent of its salaried workforce, from the middle and senior management levels.
Executive Interview with Ken Schafer, Vice President, and Henry Hippert, Sales Director, for Eastern Manufacturing
Every other week, aftermarketNews.com offers an interview with high-profile individuals in the automotive aftermarket. We give executives free rein to express their views on anything from the state of their corporations to recent legislative news to future trends in their niche markets. Here you see what matters to the newsmakers themselves. Our latest edition of “Executive Interview” features Ken Schafer, vice president, and Henry Hippert, executive sales director, for Eastern Manufacturing.
ArvinMeritor Enters Two Axle Joint Ventures with Volvo
ArvinMeritor has formed two joint ventures with the Volvo Group, becoming one of Volvo’s largest global suppliers, providing more than 300,000 axles for commercial truck applications in North America, Europe, Australia, Brazil and India.