Brake parts and rotors are the central topics of not one but two of our most-viewed articles on AMN this week. At number one is a column by Brake & Front End Editor Andrew Markel, titled, “Rotors, Resurfacing and the Law: How the Glad/Midas Lawsuit Will Change How You Sell Brakes.” In the column, Markel writes about the investigation that the California Bureau of Automotive Repair (BAR) recently settled against Midas franchisee Mike Glad, which centered around questionable brake and rotor service practices at Glad’s shops. You can read Markel’s column in its entirety, here. You can also read a recent guest commentary in response to the column, written by Raybestos District Sales Manager Chris Hudson.
Brake parts and rotors were the focus of our second most popular item this week as well – our exclusive Executive Interview with Centric Parts Founder and CEO Dino Crescentini. A veteran of the industry, Crescentini began his import automotive industry career working with his father for Alfa Ricambi in the late 1970s. Crescentini has played a part in establishing several aftermarket companies during his career, including Autospecialty, which he founded with his father in the 1970s; Kinetic Parts; WDSource.com and StopTech. His most recent focus has been on Centric Parts, which he founded in 2000 (StopTech is now part of Centric). At the 2009 AAPEX in Las Vegas, Crescentini was inducted into the AIA Hall of Fame.
In other news from the manufacturing sector, Affinia Group this week reported continued margin improvement for the fiscal year 2009. Consolidated sales from continuing operations for the full year 2009 were $1.797 billion, as compared to $1.915 billion for 2008. The company said the $118 million decrease in net sales was primarily a result of unfavorable foreign currency translation effects of $96 million. For the fourth quarter 2009, net sales were $455 million, a 10 percent increase as compared to $413 million for the fourth quarter of 2008. The $42 million increase was due to an increase in sales in the Filtration and Commercial Distribution South America groups, said Affinia.
For those die-hard race fans who would like to bring a little piece of the oval to their everyday driving experience, Richard Petty this week announced he will release a signature series line of vehicles. Petty’s Garage and Arrington Performance are partnering to build the new line of vehicles, which will be based on the 2010 Dodge Challenger R/T with a 27F option package. The power for these vehicles will be supplied by NASCAR engine builder Joey Arrington at his shopHEMI.com facility in Martinsville. Engine installation, performance upgrades and paint work will take place in the historic Petty shop in Level Cross, N.C. Customer orders are currently being taken with production of vehicles to start in March and completed vehicles delivered in April.
The final item in our round-up of the week’s top news comes from Jasper Engine & Transmission, which proudly announced this week that the 68-year-old company is now 100-percent employee owned. Jasper owners/managers sold their shares in the company to the company’s 1,471 employees. On an annual basis, all full-time Jasper employees will earn shares of stock based on their compensation levels. Entirely financed by the shareholders, this new Employee Stock Ownership Plan comes in addition to Jasper’s benefit and pay package, including Jasper’s successful quarterly bonus and 401k profit sharing plan, all of which remain unchanged, the company said.
