Jack Roush Named First Recipient of SKF X-Tracker Award
Jack Roush, CEO of Roush Industries and owner of the Roush Racing Team, has been named the first recipient of the SKF X-Tracker Award. The international award recognizes an individual who has achieved success in the face of extreme challenges or adversity. SKF selected Roush as the first X-Tracker Award recipient due to his legendary success in the automotive and racing industries and his perseverance through his recovery from life-threatening injuries sustained in a 2002 airplane crash.
Four CART Board Members Resign
James Hardymon, James Henderson, Rafael Sanchez and Frederick Tucker have resigned from the Championship Auto Racing Teams (CART) board of directors, leaving President and CEO Christopher Pook as the sole member of the board. Their resignations come after the recent news that CART’s assets of would be bought out by Open Wheel Racing Series LLC, following a failed merger attempt between the two racing organizations.
Hawk Corp. Announces Restructuring Plan
Hawk Corp. has initiated a new plan to focus on its two primary business segments — friction products and precision components, in an effort to improve the company’s global competitive cost position and support long-term growth initiatives in these segments. As part of the repositioning plan the company intends to achieve cost savings at its friction products segment by moving operations at its Brook Park, Ohio, location to a new U.S. production facility. Hawk also said it plans to sell its motor segment and engage the services of an investment banker to advise the company as it reviews strategic alternatives relating to Hawk’s Tex Racing business unit.