Midas Reports Second Quarter Results; Begins Co-Branding of Midas Services at SpeeDee Shops
Midas has reported net earnings of $2.2 million, or 16 cents per diluted share, for the second quarter ended June 28, compared to $3 million, or 21 cents per diluted share, in 2007. The 2008 results include 3 cents per share of special items relating to business transformation activities and losses on sales of assets, while the 2007 number includes 4 cents per share of special items.
Cash Technologies Subsidiary Recovering Former Champion Customers
LOS ANGELES, Calif. – Following the acquisition of Champion Parts by Cash Technologies subsidiary CPI Holdings on May 5, the company reports that is making progress in recovering former Champion customers. CPI Holdings is now supplying or in agreements to supply four of the top six U.S. automotive parts retailers. This represents an estimated $3.4
Executive Interview with ISN Vice President John Snowden
A supply chain services and business development professional with 20 years of distribution and manufacturing experience, John Snowden joined Integrated Supply Network (ISN) in May 2007, as vice president of operations. After a year spent fine-tuning the company’s distribution process, Snowden is now performing the role of vice president of mobile sales. His mission is to redefine the level of experience that mobile distributors have when purchasing from ISN, bringing customer service and product excellence to the forefront of every interaction. In this exclusive interview, Snowden talks about the changing dynamics of the tool and equipment distribution model.
CRP Appoints Western Regional Sales Manager for Traditional Aftermarket
CARTERET, N.J. – CRP Industries has announced the appointment of Dennis Losey to the position of western regional sales manager, Traditional Aftermarket Business Unit. Founded in 1954 as the North American partner of Continental AG, CRP Automotive supplies ContiTech branded timing belts, timing belt kits and serpentine belts; Pentosin technical automotive fluids; and Rein Automotive
The Week in Review (July 21-25, 2008)
By Amy Antenora The Week in Review offers a snapshot of the most highly read stories of the week as seen on aftermarketNews. To access the complete stories, simply click on the highlighted links. If you missed reading one of our daily news emails, just click on the link that says "News Archives" at the
Import parts industry legend Randy St. John died July 20. He was 81 years old. Beginning his automotive parts experience in the early 1950s as a partner in Brigham-St. John, an import parts specialist located in Southern California, Randy built a solid demand for British, French, Italian and German car parts in his market. After aligning with Beck Distributing in the early 1960s, Randy joined the Beck family and his company became the west coast operation for Beck, later becoming Beck/Arnley Corp. of California. He eventually went on to become president of Beck/Arnley Corp.
Executive Interview: An Update on Uni-Select’s Purchase of Beck/Arnley
In this exclusive Executive Interview, Uni-Select President and CEO Richard Roy and Max Dull, vice president and general manager of Beck/Arnley, provide an update on what to expect following Uni-Select’s acquisition of the import parts maker. The two address plans for strategy, branding and distribution.
Herman Trend Alert: Thriving in Economic Crisis
Some enterprises are thriving through this period of economic crisis. First, the sales of fuel efficient, mostly small cars are booming. Toyota dealerships have only 15-days inventory of Corollas on their lots. In May, Honda’s modest Civic became the No. 1 selling car in the United States. Logistics alternatives to diesel-consuming trucks that are more efficient at moving goods, like railroads, are also doing well.
AAIA Partners With China Ministry of Commerce
Building on its initiative to meet member interest in learning more about doing business in China , the Automotive Aftermarket Industry Association (AAIA) has established a formal partnership with the China International Auto Parts Expo (CIAPE), a division of the China Ministry of Commerce. The partnership agreement calls for Ministry of Commerce to provide an educational program at AAPEX on how to sell to the Chinese aftermarket. The program will include information on the Chinese aftermarket, government regulations and business practices
‘The Economic Report’ Show to Feature Coni-Seal
DEERFIELD BEACH, Fla. – Aftermarket manufacturer Coni-Seal, Inc. will be featured on an upcoming episode of ‘The Economic Report’ as part of the show’s series on Rising Stars in Quality Aftermarket Parts. Hosted by former NFL sports broadcaster Greg Gumbel, “The Economic Report” airs during the day on national news networks including Fox, CNN and