U.S. Retailers Kmart, Sears to Merge in $11 Billion Deal
U.S. retailer Kmart, which emerged from bankruptcy protection only 18 months ago, and Sears, Roebuck and Co. announced today plans to merge into a new retail giant by March 2005, in a deal worth some $11 billion. With almost 3,500 retail stores, the new company, to be called Sears Holding Corp., will have $55 billion in sales annually and will be headed by Kmart chairman Edward Lampert.
AWDA Announces New Officers, Incoming and Outgoing Board Members
Fletcher Lord, Jr., AAP, president and CEO, Parts Warehouse, Inc. has been elected 2005 chairman of the board for the Automotive Warehouse Distributors Association (AWDA). Lord follows Richard Beirne (2004) and Ron Levene (2003) as AWDA chairmen. Joining Lord in the segment’s top leadership positions are vice chairman Doug Washbish, president, Moog Louisville Warehouse; secretary Tim Sturdevant, AAP, vice president and COO, S.A.E. Warehouse; and Timothy Lee, AAP, chairman, L-C Enterprises.
Executive Interview with Randy Mordue, Director, Aftermarket Division, Akebono Corp.
Our latest edition of “Executive Interview” features Randy Mordue, director, Aftermarket Division, Akebono Corp. Mordue joined Akebono North America in 1999. He has more than 20 years of sales, national account and new business development experience within the automotive aftermarket industry. Mordue recently took the time to talk with aftermarketNews.com and bring us up to speed on the latest developments at Akebono.
AASP-MN Announces Fall Educational Offerings
The Alliance of Automotive Service Providers, Minnesota (AASP-MN) has released its schedule of fall educational programs. AASP-MN will host an educational program on “Inflatable Restraint Systems,” from 6 to 9 p.m. on Wednesday, Nov. 17 at Dunwoody College of Technology in Minneapolis, Minn. AASP-MN will host an educational program on “Inflatable Restraint Systems,” from 6 to 9 p.m. on Wednesday, Nov. 17 at Dunwoody College of Technology in Minneapolis, Minn.
SEMA Board of Directors’ Election Results Announced
The results of the Specialty Equipment Market Association (SEMA) board of directors election are final. SEMA, has elected three newcomers and re-elected seven incumbents into office on its board of directors.
AASA Representatives Appointed to University of the Aftermarket Joint Operating Committee
Jack Cameron of The Timken Co. and John Washbish of Dana Corp. have been named to the University of Aftermarket’s Joint Operating Committee (JOC) as representatives of the Motor & Equipment Manufacturers Association (MEMA) and its aftermarket segment association, the Automotive Aftermarket Suppliers Association (AASA). The University’s Joint Operating Committee consists of representatives from AASA, the Automotive Aftermarket Industry Association (AAIA) and the Automotive Warehouse Distributors Association (AWDA). The committee provides direction in determining future University programs and courses.
DST Asks: What Information Would You Like to Capture About Your Customer Base?
“Can I have your telephone number?” That’s not just a question asked by a hopeful suitor after a chance meeting and lingering cocktails with another stranger in the night anymore. It’s now heard every time a pack of batteries is sold at any RadioShack in the country. And who said romance is dead?
GM Cutbacks Sting American Axle
American Axle & Manufacturing Holdings Inc., the world’s second-largest maker of automotive drive systems, said first-quarter profit fell 32 percent as General Motors Corp. cut light-truck production and bought fewer parts. American Axle & Manufacturing Holdings Inc., the world’s second-largest maker of automotive drive systems, said first-quarter profit fell 32 percent as General Motors Corp. cut light-truck production and bought fewer parts.
Executive Interview with Rex Falkenrath, Founder and CEO of Hi-Tech Engine Components
Our latest edition of “Executive Interview” features Rex Falkenrath, founder and CEO of Hi-Tech Engine Components. Falkenrath founded Hi-Tech in August of 1973. With more than 31 years in business, Hi-Tech Engine Components has developed a full line of engine parts and kits sold nationally through parts store chains and program distribution groups. Join us as we learn more about Hi-Tech Engine Components and the engine parts market.
CARQUEST’s Pete Kornafel Talks About His New Book on Inventory Management
Pete Kornafel, vice chairman of CARQUEST, recently wrote and published “Inventory Management and Purchasing — Tales and Techniques from the Automotive Aftermarket,” a practical guide to inventory management for wholesale distributors and stores that supply “hard goods.” Kornafel took some time last week to speak with aftermarketNews.com about the inspiration for his new book.