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, click on any of the dates listed at the bottom of the page to begin catching up on the latest industry news.
Watch out New York City drivers, you may suddenly find your car subject to a mysterious force. According to The New York Daily News, the area around New York City’s Empire State Building has become a virtual “Bermuda Triangle” for cars, with automobiles mysteriously dying as they pass by the landmark building. Some people believe that the problem stems from more than 30 transmission antennas on the 102-story building. Automotive experts and engineers believe that the problem may be due to radio frequency interference that is jamming the remote keyless entry systems of cars.
Another news story that interested AMN readers this week was the release of Pep Boys’ fourth quarter and 2007 fiscal year results. Fourth quarter sales for Pep Boys were $517,639,000, compared to sales of $578,951,000 from the previous year. Sales for the fiscal year were $2,138,075,000 compared to $2,243,855,000 in the previous year. President and CEO Jeff Rachor commented that “while the difficult economic backdrop created sales challenges during the fourth quarter, we are pleased to confirm that our progress to date leaves use well positioned to complete this first important step in our strategic plan by the beginning of the second quarter of this year.”
Along with these news stories, American Honda released its new position statement on aftermarket parts for collision repairs and warranties this week. Within this statement, American Honda recommends that “repairs be performed by an experienced professional using a Honda body repair manual and Honda Genuine original equipment replacement parts designated for use.” Regarding warranties, Honda stated that “replacement parts warranty or extended warranties do not apply to any part other than a Honda Genuine original equipment replacement part.”
AMN readers were also interested to learn this week that the Timken Co. has announced a reorganization of its innovation and growth team in order to streamline strategic planning. Effective March 31, Senior Vice President of Innovation and Growth Jacqueline Dedo is leaving the company and Senior Vice President of Technology Alastair Deanne, who previously reported to Dedo, will now report to James Griffith, Timken president and chief executive officer.
Rounding out our list of top-read news stories this week was the announcement that Advance Auto Parts has named Charles Tyson senior vice president, merchandising. Tyson will provide strategic direction and leadership for all merchandising areas serving Advance’s DIY and commercial customers. Tyson brings 16 years in retail merchandising and global sourcing to the role.
* AMN Editorial Assistant Nicholas DiSabatino contributed to this report.
To view all of the news from the past week, simply click on the link for each corresponding day:
Monday, March 24, 2008
Tuesday, March 25, 2008
Wednesday, March 26, 2008
Thursday, March 27, 2008
Friday, March 28, 2008