Aftermarket Suppliers: Be Aware of Legal Implications Related to Current Business, Industry Practices
Automotive aftermarket product manufacturers should review corporate internal and business policies with their company attorneys to assure compliance with Robinson-Patman and Sarbanes-Oxley laws, according to recent presentations to aftermarket executives sponsored by the MEMA Financial Services Group (MFSG). MFSG held the meeting for aftermarket supplier executives to discuss issues arising from current industry practices in regard to the laws passed by Congress.
Timken Named to Fortune 500
Canton, Ohio-based manufacturer Timken Co. was named to Fortune magazine’s Fortune 500 listing of the largest companies in the U.S. With $3.8 billion in sales in 2003, Timken is ranked 444 overall and 12 on Fortune’s list of industrial and farm equipment manufacturers.
Jasper Engines and Transmissions Names Clevite Engine Parts a Preferred Supplier
For the eighth consecutive year, Dana Corp.’s Clevite Engine Parts has been named a “Preferred Partner” by Jasper Engines & Transmissions. The award was presented during the Jasper Engines & Transmissions Annual Preferred Partners Banquet on March 9. Out of more than 2,000 Jasper vendors, Clevite was one of only seven to earn the Preferred Partner Award.
Hi-Tech Engine Components to Supply AAM/Parts Pro Group
Hi-Tech Engine Components has been selected as a program vendor to AAM/Parts Pro by a unanimous vote of its members. According to Tim Odom, president of AAM/Parts Pro, having access to Hi-Tech’s arsenal of engine kits for more than 15,000 applications was just one of many reasons for the decision.
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.
Jim Pearl Rejoins Denman Tire Corp.
James Pearl has rejoined Denman Tire Corp. as senior vice president of sales and marketing. Pearl worked for Denman for ten years prior to leaving in late 2002 to pursue other opportunities. Pearl will once again have overall responsibility for the sales and marketing functions and will be leading and coordinating the efforts of the sales and marketing department.
Registration Forms Now Available for MEMA Counterfeiting Seminar
As part of its continuing efforts to address the counterfeiting and intellectual property right violations problems — which costs the U.S. automotive industry nearly $3 billion and costs the global industry $12 billion each year — MEMA will present a one-day seminar — “Taking Action Against Automotive Parts Counterfeiting, Diversion and IPR Violations” — on Monday, April 5, at the Dearborn Hyatt, Dearborn, Mich.
DST Asks: Do You Get Everything You Need from Your Current Computer System?
The database engine is the foundation of a computerized business system, used to abstract very specific sorts of information about your business and organize it in a way that will prove useful. The database should ultimately be viewed as a representation or model of the business.
Tower Automotive Retirees Will See Health Premiums Soar
About 1,200 retirees of Milwaukee’s Tower Automotive plant who opt to keep their current medical coverage will see their monthly health insurance premiums quadruple, or more. Premiums for some of the retirees have increased to more than $1,000 a month. Company officials say skyrocketing healthcare costs have given them no choice but to raise the premiums.
Treading a New Path
Goodyear Tire & Rubber Co. is hoping to make a huge splash with a new high-end line of all-season tires. The Akron, Ohio-based company will roll out its Assurance line this spring with its biggest advertising blitz in more than a decade. Goodyear is counting on the new tires to help deliver a turnaround after four years of disappointing sales.