Transportation Secretary Mineta Launches Traffic Safety Partnership with NASCAR
U.S. Transportation Secretary Norman Mineta and NASCAR President Mike Helton have joined forces in launching a new traffic safety alliance with the racing league aimed at saving the lives of everyday drivers on America’s roads. Secretary Mineta made the announcement while in Richmond, Va., appearing as the grand marshall of NASCAR’s running of the Chevy American Revolution 400.
Bridgestone, Michelin Criticize F1 Single-Source Strategy
Bridgestone Corp. and Michelin are speaking out against a plan to eliminate one of them from Formula One auto racing in 2006 to cut teams’ costs and reduce the impact of tire choice on racing. The 10 teams want a single tire supplier to reduce the more than $300 million a year they spend for testing and the more than $40 million a year required to operate a team, according to Max Mosley, president of Formula One’s ruling body.
Dana Elects Two New Board Directors
Dana Corp. has elected former Goodyear chairman Samir Gibara and David Berges, chairman, CEO and president of Hexcel Corp. to its board of directors. Dana Chairman Glen Hiner made the announcement.
Oklahoma’s Court OKs Bond Issues for 2 Tire Plants
Two tire manufacturers’ expansion plans totaling $450 million got a major boost Tuesday from the Oklahoma Supreme Court. The court approved a $66.3 million bond issue designed to help the Goodyear Tire and Rubber Co.’s $250 million plant expansion in Lawton, Okla. The bond issue also would help in a $200 million expansion at Michelin North American Inc. in Ardmore, Okla.
National Tire Safety Week Participation Growing
The Rubber Manufacturers Association (RMA) has announced that participation in the third annual National Tire Safety Week has doubled this year, with more than 8,000 tire retail stores participating. As part of the campaign, tire retailers will distribute “Be Tire Smart” brochures produced by RMA. The Rubber Manufacturers Association (RMA) has announced that participation in the third annual National Tire Safety Week has doubled this year, with more than 8,000 tire retail stores participating. As part of the campaign, tire retailers will distribute “Be Tire Smart” brochures produced by RMA.
Union Plant to Make More Assurance Tires
Goodyear Tire & Rubber Co. will expand production of its brand-new Assurance tire line at a union plant in Gadsden, Ala., ending a labor dispute that threatened to overshadow the product launch. The United Steelworkers of America accused Goodyear last month of violating a labor contract by building the new passenger tires at a nonunion plant in Lawton, Okla. The United Steelworkers of America accused Goodyear last month of violating a labor contract by building the new passenger tires at a nonunion plant in Lawton, Okla.
ABC, ESPN to Provide Live Coverage of IRL Indycar Series
ESPN and ABC Sports have signed on to be the exclusive carriers of Indy Racing League (IRL) events, providing live television coverage of all 16 IRL IndyCar Series events for the 2004 season.
Choice of Plant Upsets Steel Workers Union
Goodyear Tire & Rubber Co. may have violated its contract with the United Steelworkers of America by deciding to build a new line of passenger tires at a nonunion plant in Lawton, Okla., the union said. But the Akron tire maker denies it has broken the contract, and said it has no plans to move production of its new Assurance all-season radial tires to a union factory. The disagreement comes just five months after the two sides signed a new three-year contract, following months of tense bargaining that threatened to escalate several times into a strike or lockout.
Republic Names George Strickler CFO
Former BorgWarner Executive Vice President and CFO George Strickler has been named executive vice president and CFO for Republic Engineered Products, one of North America’s largest producers of special bar quality steel. Prior to joining BorgWarner in 2001, Strickler served as vice president of finance for Akron, Ohio-based Goodyear Tire & Rubber Co. He held finance and treasury positions at the tiremaker for 30 years. He was also executive vice president and CFO at Lake West Group, a retail consulting company based in Cleveland, Ohio.
Snap-on Appoints Former BorgWarner CEO and Chairman to Board
John Fiedler, retired chairman and CEO of BorgWarner, has been appointed to Snap-on’s board of directors. Fiedler served as BorgWarner’s chairman and CEO until 2003. Prior to 1995, he was president and COO. During his tenure, BorgWarner increased its revenues from $800 million to roughly $3 billion.