Executive Interview with Tom Ward, President, Snap-on Diagnostics
Our latest edition of “Executive Interview” features Tom Ward, president of Snap-on Diagnostics, a global business focused on improving technician and workshop productivity around the world. Join us as Ward gives us an inside look at Snap-on Diagnostics, including information on some recently launched products. Ward also talks about the trends and challenges in automotive diagnostics and repair and how the division works to address these issues.
AutoZone Completes Acquisition of Eastern Parts Store Chain
Yesterday, AutoZone announced it had completed the purchase of selected assets of the Eastern U.S. auto parts chain, ABC Discount Auto Parts. ABC had been a long-time member of the RPM Group. The acquisition of ABC furthers AutoZone plans to develop market areas through asset acquisitions where the company currently is under-penetrated. ABC Discount Auto Parts operated 17 stores and one distribution center in Southern New Jersey and Eastern Pennsylvania. The company, previously owned by Lou and Carla Fishman, was headquartered in Cherry Hill, NJ.
Auto Supplier Venture: Money Diverted Before its Bankruptcy
One of Michigan’s largest private corporations has taken the extraordinary action of suing the man who founded it, saying he, his family and side businesses owned by them siphoned more than $314 million from the corporation before it declared bankruptcy.
Judge Approves $149 Million BFNAT Settlement
State District Judge Donald Floyd in Beaumont, Texas, has approved a $149 million settlement of 30 class-action lawsuits filed on behalf of Bridgestone/Firestone tire owners. The announcement comes more than three years after the 2000 recall of 14.4 million Firestone tires. Bridgestone/Firestone North American Tire (BFNAT) agreed to the proposed settlement last July.