Eaton Reports Second Quarter, Automotive Profits Up 3 Percent From Previous Year
Diversified industrial manufacturer Eaton Corporation announced net income per share of $1.37 for the second quarter of 2005, an increase of 33 percent over net income per share of $1.03 in the second quarter of 2004. Sales in the quarter were a record $2.83 billion, 18 percent above the same period in 2004. Net income was $209 million compared to $161 million in 2004, an increase of 30 percent.
Executive Interview: From Education to Enforcement: MEMA’s Brand Protection Council and its Role in the Fight Against Counterfeiting
It’s hardly been two years since MEMA first sent out feelers to its members, looking for any interest in forming a council to look more closely at issues relating to counterfeiting and intellectual property rights violations.Several members of the council took time to talk with aftermarketNews.com about their own experiences protecting their companies’ brands against IPR violations and counterfeiting.
Brake Performance Rating Program Reaches Critical Mass
The Brake Effectiveness Evaluation Procedure (BEEP), the brake pad and shoe performance certification program of the Brake Manufacturers Council (BMC), has now reached critical mass, with the current number of available platforms representing 75 percent of the market.
Herman Trend Alert: Take a Break?
People who work hard at their jobs for 20 years or more, while raising a family, often reach a point where they just want a break. They want to do something different for a few weeks or a few months, to escape from their routines with new experiences. Those who engage in this time away from their routine, return refreshed and rededicated to high achievement.
NCMA Raises More than $6,200 for the Aftermarket Foundation
The National Catalog Managers Association (NCMA) held its 32nd annual Knowledge Exchange conference last month in Tempe, Ariz. Since 2004, the organization has been using its annual meeting as an opportunity to raise money for the Aftermarket Foundation. Founded in 1959 as the Jesselson Benevolent Association, the Aftermarket Foundation assists individuals and families in the automotive aftermarket through difficult times.
Michelin Announces Commercial Price Hikes
For the second time this year, Michelin North America (MNA) is raising prices on some of its commercial tire product lines. Prices on Michelin and BFGoodrich branded replacement medium truck tires will jump 3 to 5 percent, MNA said. The increase will hit direct-billed fleet accounts as of July 1, but won’t hit dealer accounts until Sept. 1, the company said.
Advance Auto Parts Reports Record First Quarter Results, Announces Board Elections
Advance Auto Parts has announced record revenue and earnings for the first quarter of 2005, which ended on April 23. Earnings per diluted share for the first quarter were 94 cents, a 38 percent increase compared to earnings per diluted share of 68 cents for the first quarter last year.
U.S. Automakers Urge Japan to Stop Verbal Foreign Exchange Interventions
A U.S. industry group of the Big Three automakers unveiled a report Tuesday urging Japan to stop “both jawboning and intervening” in currency exchange markets.
Congress Is Looking Out For Tomorrow’s Technicians
When it comes to leaving “no potential tech left behind,” Congress has come through. In its vote on H.R. 366, the Carl D. Perkins Vocational and Technical Education Act, the Republican-led House rejected one of President Bush’s budget proposals that would have killed funding for the vocational funding program. The House voted Wednesday 416-9 to approve spending $1.3 billion for the Perkins Act in the fiscal year beginning Oct. 1, renewing it until 2011. The measure also outlined changes in the popular program for the first time since 1998.
Hankook Tire Says Will Raise Tire Prices as Much as 6 Percent
Hankook Tire America Corp. announced this week it is raising prices on its full line of passenger, high performance, light truck and medium truck tires by as much as 6 percent.