Sarah Fisher and Larry Hoofnagle to be Featured on C.A.R. Show
IRL IndyCar Series driver and Raybestos Safety Campaign spokesperson Sarah Fisher, and Larry Hoofnagle, director of marketing for Brake Parts Inc., will be featured on the C.A.R. Show radio program on Saturday, January 31. The broadcast will air between 9 – 11 a.m. EST. During the broadcast, Hoofnagle and Fisher will discuss the importance of vehicle maintenance and the need to educate consumers about taking proper care of their vehicle’s braking system through annual brake inspections, maintenance and repair.
Executive Interview with Terry McCormack, President, Dana Automotive Aftermarket Group (AAG)
Our latest edition of “Executive Interview” features Terry McCormack, president of Dana Automotive Aftermarket Group (AAG). McCormack talked to aftermarketNews.com about the recent news that Dana will divest its aftermarket group. He shared details of the announcement as well as his insights on what this major change means for the company and the division.
Prestolite Electric Sells UK Facility
Prestolite Electric Holding, has sold the Acton (London, England) manufacturing facility of Prestolite Electric Limited, the company’s UK subsidiary. Prestolite sold the subsidiary to Lemon Land Limited for approximately $47 million. The Acton facility had a book value of $9 million. In connection with the purchase, Prestolite retained the right to occupy the facility through the end of 2004.
International Speedway Reports Fourth Quarter And Year-End Results
International Speedway Corp. (ISC) has reported results for the fourth quarter and year, which ended on Nov. 30, 2003. Total revenue for the 2003 fourth quarter was $164.7 million, compared to $171.7 million in 2002. Operating income for the fourth quarter was $56.5 million compared to $65.3 million for the prior year. Net income was $31.6 million, or $0.60 per diluted share, compared to $37 million, or $0.70 per diluted share, in the fourth quarter of 2002.
New Tire May Put Goodyear on Track
It’s a mystery tire that’s making a lot of tire dealers, analysts and investors excited — and seems to be pushing the stock upward. Goodyear Tire & Rubber plans to launch a new high-end line of passenger tires next month with huge fanfare at its annual convention of dealers and distributors in Orlando, Fla. Some say the tire line, known as Assurance, could become Goodyear’s hottest-selling new line in a decade, a move that could go a long way to helping the Akron, Ohio-based company boost its flagging sales and turn around three years of losses.
Noble International Completes LWI Acquisition, Plans to Sell Monroe Engineering Subsidiary
Noble International has completed its acquisition of Clinton Township, Mich.-based Laser Welding International (LWI), a supplier of laser-welded blanks to General Motors. The acquisition which was first announced late last week, now includes the proposed sale of LWI’s subsidiary, Monroe Engineering Products. Noble paid $14.7 million for LWI, with an additional $1 million payable if certain new business is awarded to Noble within the next twelve months.
“AMN Perspectives by Thomas Group: Experience at Work”
Welcome to the first installment of “AMN Perspectives by Thomas Group: Experience at Work.” What does “Experience at Work” mean? It means proven methods and techniques applied by seasoned executives resulting in measurable financial improvement. “Work” means that Thomas Group consultants are working implementers. We get into the client’s business and go to work side by side with the management and employees until objectives are accomplished, rather than preparing a plan and leaving it to the company to make it happen. Through “AMN Perspectives: Experience at Work,” Thomas Group consultants will comment on issues and news within the automotive aftermarket to provide constructive suggestions that work based on our experience in the automotive industry and more than 20 other industries and government agencies.
OE Suppliers May Drop By 50 Percent: Group Predicts Half Will Go Under by 2010
The auto industry is on track to lose half of its parts suppliers by 2010 because of escalating pressure to reduce component prices. That prediction from the Original Equipment Suppliers Association (OESA), a trade group that represents suppliers, comes in response to a new survey that found automakers are demanding more and steeper price cuts from parts makers.
“DST Asks”: The Use of Computerized Business Management Systems and their Potential for Generating ROI
Tremendous technological advances have made the use of computerized business management systems the paradigm of the aftermarket. All tiers of the supply and service chains have benefited from technology — manufacturers, warehouse distributors, jobbers, national and regional parts and service chains, multi-store independent parts and service enterprises and single-store independent parts and service facilities. Gone are the days when a capital investment in technology was merely another overhead expense. Savvy managers now know that computerized systems can become their own profit centers, generating an impressive ROI.
Executive Interview with Rich White, Vice President of Marketing & Communications, AAIA, and Executive Director of the Car Care Council
Rich White is vice president of marketing and communications for the Automotive Aftermarket Industry Association (AAIA). He oversees marketing, public relations, media relations, publications, Web sites and most recently, the Car Care Council and the “Be Car Care Aware” consumer education campaign. With National Car Care Month just around the corner, White provided aftermarketNews.com with an update on the “Be Car Care Aware” consumer education campaign and the Car Care Council’s plans for this year. He also shared how aftermarket companies can become more involved in the campaign.