Carolyn Mullins Rack passed away on April 24, 2006- The collision
industry's Mama Bear, Carolyn Rack, passed away on Monday, April 24, 2006. Her
memorial service will be May 20th at Linworth Methodist Church, Columbus, Oh.
There will be a reception following the service.
more>>>
Ford shuts down truck plants for part problem - Ford Motor Co on
Thursday shut down five assembly plants and partially closed another after
finding that a supplier had provided a defective transmission part, a
spokeswoman said. -- The plants that were completely closed because of the
discovery of the defective part are Ford's Michigan Truck, Ohio Assembly,
Norfolk Assembly, Wixom Assembly and Dearborn Truck plants.
Insurance firm's project in Forest Hills is rebuffed - Pittsburgh, PA:
Progressive Insurance's wanted to subdivide five acres at the top of Digital
Drive into a facility that would contain an office building, parking space for
172 cars and 15 bays for evaluating damaged vehicles.
Shat-R-Proof and NOVUS Announces Organizational Change - Since TCGI's
divestiture of the Canadian Glass Operations to Belron Canada, significant
changes have occurred within the Shat R Proof Corp and NOVUS organizations,
including a consolidation of international sales efforts, product development
and franchising into one operating group.
Glass.net Announcement Prompts Industry Reaction, Response - Either
posting to the AGRR Magazine Message Forum boards or e-mailing glassBYTEs™
editors directly, several members of the industry have let it be known that they
have found what they perceive to be flaws to the system.
Allstate's
Tech-Cor Supports Collision Industry Relief - Tech-Cor, the research and
testing division of Allstate Insurance, has made a contribution of $10,000 for
Collision Industry Relief, the effort by the National Auto Body Council (NABC)
to help collision industry victims of natural disasters.
Hello world, Hyundai polishes its image with the new Azera - A
$28,000-plus Hyundai might be tougher to swallow for some buyers than week-old
pizza, but the Azera, the South Korean carmaker's new flagship, is impressive
enough to change the perception of Hyundais as cheap cars at low prices.
Toyota finds problem in Camrys - Toyota Motor Co. has found what it
calls a minor problem with the transmissions in early models of the 2007 Camry.
-- In a small number of vehicles, the transmissions could skip gears. Toyota
anticipates the problem could affect 160 of the 32,000 Camrys sold in March and
April, Toyota spokeswoman Allison Takahasi said.
Sherwin Williams gets Scouting award - The Sherwin Williams Co. will be
honored for its long service to Scouting by the Greater Cleveland Council, Boy
Scouts of America at the Good Scout Award luncheon Wednesday at the Renaissance
Cleveland Hotel grand ballroom.
CEO comes under fire for stock performance - DuPont's chairman and chief
executive officer faced tough questions Wednesday at the company's annual
meeting from shareholders who blasted DuPont's flat stock performance. --
Charles O. Holliday Jr., DuPont's chairman and chief executive officer, told a
crowd of about 800 people at the DuPont Theatre on Wednesday that the company is
in the midst of a transformation.
Strategy Analytics - Automotive Market for Color Displays To Triple Over
Next 5 Years; Decreasing LCD Costs and Increasing In-car Features Drive a $3
Billion Opportunity
The
Parts Paradox - Why are America's struggling auto suppliers booming
overseas--while suppliers from abroad are flocking to the U.S.?
Dura Automotive quarterly net loss widens - Dura said its first-quarter
net loss was $7 million, or 38 cents per share, compared with $4.8 million, or
26 cents per share, a year earlier. Revenue fell to $584.4 million from almost
$620 million last year.
LKQ 1Q Profit Up
- LKQ Corp., a recycler of damaged cars, said Thursday its first-quarter profit
grew 44 percent on an equal increase in revenue.
Finding
classic auto parts - Classic car parts are hard to come by because they
are no longer in production, they don't make the parts for them anymore. But
that doesn't mean they can't be found.
N.V. man arrested for auto parts scam - IN: A North Vernon man returned
his employer’s unused automotive parts to retailers and pocketed the cash,
police said.
Auto Club Warns Consumers to Beware of Gas Additives Claiming to Increase
Mileage - With gas prices at record high levels statewide, drivers may
be tempted to buy gasoline additives that claim to improve vehicle mileage. The
Automobile Club of Southern California is advising consumers that available gas
additives are unlikely to save them money on gas.
Phony auto insurance ring cracked - Eight people are facing a total of
97 fraud-related charges after Toronto police broke up a province-wide
counterfeit automobile insurance ring.
"Passion for Coatings" Shown by BASF Coatings Japan - The presentation
focused on innovative and environmentally friendly solutions from the three
business units Automotive OEM Coatings Solutions, Automotive Refinish/Commercial
Transport Coatings Solutions, and Industrial Coatings Solutions, including "CathoGuard
500", the lead-free cathodic e-coat from the automotive OEM coatings portfolio,
a UV-curable clearcoat for coating motorcycles, and the "ONYX HD" waterborne
basecoat line from the automotive refinish portfolio, as well as a chrome-free
primer with excellent anti-corrosion performance without the use of hexavalent
chromium from the industrial coatings portfolio.
SCRS names
award winners - The Society of Collision Repair Specialists recognized
the best of the best in the collision repair world at their annual awards
luncheon held in conjunction with the Collision Industry Conference in Portland,
Ore, in early April.
Body shop
holds car after MPI won't pay - Manitoba: Rithy Keo dropped off his
vehicle at R & B Custom Painting and Autobody on Logan Avenue for a touch-up
early last week. But on Friday, the shop refused to return his car. -- Rob
Barnes, owner of R & B Custom, said keeping the car is a rare last resort to
collect payment. -- "I'm not trying to harm the customer. It's got nothing to do
with the customer," said Barnes. "Once the bill is satisfied, the vehicle is
being released."
Area businesses pitch in, donate wheelchair-accessible van - Gigi
Walker, president of the Martinez Rotary Club, handed the keys for a completely
refurbished 1999 Supreme paratransit van to Rick Spittler, executive director of
the Bay Area Outreach & Recreation Program in Berkeley, at the Rotary Club's
weekly meeting Tuesday. - Rotary president Walker decided to help. Her firm,
Walker's Auto Body & Fleet Repair in Concord, purchased the van, complete with a
hydraulic wheelchair lift, from County Connection.
VC Tech Hosted SkillsUSA High School Collision Competition - During the
competition, secondary and post-secondary students were evaluated on a variety
of tasks of a collision refinishing repair. Students were judged by a panel
industry experts from across the state. Winners from both Collision and
Automotive competition qualified for scholarships and will advance to the
National SkillsUSA competition to be held in Kansas City this June.
People should look
at cars they get before driving away - Literally more than 1 million
vehicles were recalled from all the manufacturers last year and a lot of those
cars are still on the road because their owners don’t even know they are driving
a faulty vehicle.
Saab 9-3
Recall - The National Highway Traffic Safety Administration is ordering
the recall of 11,886 Saab 9-3 passenger cars from the 2001 model year because of
faulty fuel lines and fittings.
DaimlerChrysler - Operating Profit Up to $1,082 Million in First
Quarter
Automotive Warranties
- While GM and Ford spend the most on warranty, other types of vehicle
manufacturers pay out a greater share of their total revenue on claims. And
while most parts suppliers have relatively low claims rates, those in the
aftermarket report some of the highest rates of all.
XPEL inks new distribution deal with Grand Prix Masters Series - The
kits will not only protect a race car's paint, but each team's sponsor logos. --
XPEL Technologies officials in San Antonio say these products have been designed
to protect the painted surfaces from flying debris from the course when Grand
Prix members are racing at speeds up to 200 miles per hour.
Tower Automotive Announces Leadership Changes in Its International Operations
- Tower Automotive today announced that Dr. Gyula Meleghy, currently the
president of Europe and South America for Tower Automotive, and Vincent Pairet,
currently president of Asian Operations for Tower Automotive, will switch
positions effective July 1, 2006. Dr. Meleghy will become president, Asia for
Tower Automotive and Mr. Pairet will become president, Europe and South America
for Tower Automotive. Both will continue to report directly to Kathleen Ligocki,
president and CEO of the company.
$80
Million Settlement Reached in Bid-rigging Case with Ill., Conn., N.Y. -
Attorney General Lisa Madigan, New York Attorney General Eliot Spitzer and
Connecticut Attorney General Richard Blumenthal today announced an $80 million
settlement agreement with Bermuda-based holding company ACE, Limited, and its
U.S.-based insurance subsidiaries. The charges against the insurance giant were
that it engaged in bid-rigging, steering of insurance business and accounting
misconduct.
California
Releases New Regulations Governing Pricing of Auto Insurance -
California Insurance Commissioner John Garamendi has unveiled enhancements to
his proposed regulations that will follow through on the promise voters sought
when they approved Proposition 103 in 1988 – namely, that the price of auto
insurance will depend more on how you drive than where you live.
40
Arrests Kick Off Fla. 'Operation Spring Cleaning,' 40 More Targeted - A
special statewide operation targeting the arrest of nearly 80 suspects from
Miami to Pensacola, Fla. for their roles in insurance fraud schemes, dubbed
"operation spring cleaning," has been launched by the Division of Insurance
Fraud.
Insured Losses to Top $100 Million in Texas Hail Storm - The hailstorm
that struck Central Texas on April 21 is expected to exceed $100 million in
insured losses, according to the Insurance Council of Texas. Baseball-size hail
pounded the city of San Marcos smashing vehicles at car dealerships and shopping
malls.
April 26, 2006
DuPont Performance Alliance to Be Featured on Jeff’s Car - DuPont
Performance Alliance is a network of certified collision repair centers that
vehicle owners and insurers can trust to deliver superior auto body repair and
the highest levels of customer satisfaction.
Ford
Tests for Corrosion in Arizona - You may be surprised to know that
Ford's North American vehicles are tested for long-term corrosion -- or rust --
resistance in hot, dry Arizona. Why not a colder climate?
Diamond-Triumph Remains Under Scrutiny - glassbytes.com™/AGRR magazine
has learned that the Federal Bureau of Investigation (FBI) has widened its probe
of Diamond-Triumph (D-T) to include interviews with key individuals, including
current and former employees as well as some suppliers and customers.
DuPont™ Spallshield® Provides Step-change in Sunroof Technology - DuPont
Glass Laminating Solutions has introduced DuPont™ Spallshield®, the business'
first generation plastic composite product for vehicle sunroofs. The launch of
Spallshield® marks a new alternative to pure organic plastic glazing or other
existing glass-glass type laminates. Applied to a single layer of glass,
Spallshield® provides up to eight times the impact performance versus standard
laminated glass, while weighing up to 30 percent less.
NABC seeks
PRIDE Award nominations - The National Auto Body Council (NABC) is
seeking nominations for the PRIDE Awards, an honor that recognizes outstanding
selflessness in the collision repair industry. Individuals and groups chosen as
winners will be recognized at the NABC's Collision Industry Night of Achievement
in Las Vegas during NACE Nov. 2-4.
Delphi, Visteon and Denso - 'Leaders in Auto Parts Manufacturing' According to
New Industry Profile from Research and Markets - The automobile parts
manufacturing industry, with more than 5,000 US companies operating around 6,000
factories, has annual revenue of about $200 billion. The largest auto parts
companies are Delphi (spun off from General Motors); Visteon (spun off from
Ford); and Denso. A dozen companies have sales above $1 billion (including TRW,
Dana, Eaton, Lear, Tenneco, ArvinMeritor, Bosch, Siemens, BorgWarner), and
thousands have annual sales in the $10 to $500 million range.
Hail damage estimate: $100 million - TX: The storm that pelted San
Marcos with baseball-size hail last week caused damage that will probably exceed
$100 million in insured losses, according to the Insurance Council of Texas, a
trade association.
Car Care Council Women's Board celebrates 10 years - The board was
formed in 1996 by several women who saw a need for a different perspective on
the automotive aftermarket, the release said. Kathleen Schmatz, president and
CEO, Automotive Aftermarket Industry Association, served as the first president.
Keeping Your New Car Shining - Fortunately, the latest cars are finished
with a high-tech process that makes it easier for car owners to maintain that
new-car look. Many cars on the market today have a powder coated finish that
helps protect them from chips and scratches, as well as damage caused by UV
rays, harsh weather, salt spray and acid rain.
GM faces possible $1.2B lawsuit - General Motors faces a possible
class-action lawsuit over allegedly defective intake manifold gaskets in 400,000
cars in Canada — a claim which lawyers say might total $1.2 billion.
Jeep
Wrangler Investigation - The National Highway Traffic Safety
Administration has launched a preliminary investigation of the 2006 Jeep
Wrangler because of problems with the clutch assembly and the clutch pedal
linkage. -- The investigation, which began April 20, could involve as many as
33,000 vehicles but NHTSA reports that the exact number will be determined
during the investigation.
A
Surprise Flank Against Delphi-Led Auto Collapse - Two weeks remain
before the potentially industry-destroying bankruptcy plan of Delphi Corporation
goes to trial before a New York bankruptcy judge on May 9.
Visteon sees nearly 40 pct of sales from Asia by 2008 - U.S. auto parts
maker Visteon Corp. expects booming car sales in Asia to power the region to its
top global market, accounting for nearly 40 percent of sales by 2008, an
executive said on Wednesday.
DuPont earnings drop 16% - Higher energy costs and lower sales hurt, but
performance was better than forecast
Honda Turns in Record Quarterly Profit - Honda more than doubled its
net profit for the January-March quarter from a year ago as soaring vehicle
sales in Asia and Europe offset a decline in Japan.Honda Motor Co., Japan's No.
3 automaker that makes the Accord compact car and Odyssey minivan, said
Wednesday it racked up 219.5 billion yen ($1.9 billion; euro1.5 billion) in
profit for the quarter ended March 31 — a record quarterly profit for Honda and
dramatically higher than the 94 billion yen profit marked the same period the
previous year.
Ford buyouts trim work force - About 2,800 accept packages as automaker
tries to cut U.S. factory jobs by more than a third.
Will all autos some day have breathalyzers? - The New York bill was
introduced by Assemblyman Felix Ortiz, who also sponsored the bill that became
the first law banning the use of handheld cellphones while driving.
Judge may pre-empt jury in auto fraud decision - MA: A judge presiding
over the trial of personal injury lawyer Charles L. Lonardo and two of his
former employees on auto insurance fraud charges said yesterday he may let at
least one of the three defendants walk free before a jury can decide whether
they are guilty.
GEICO Takes Safe Driving Message to Louisiana's Youth Conference on Teens
'Taking Action' - Louisiana's 18th annual "Taking Action! Louisiana
Youth Conference" will take place April 28 - April 30 at the Holiday Inn Select
in Baton Rouge, La. This year's theme is "Believe - In Yourself, In Life, In the
Game," with the hope of motivating teens to be committed to making healthy,
positive decisions.
All Aboard
Allstate? - In the absence of catastrophe, Allstate's quality shines
through.
Insurers
Say Auto Insurance Bill is 'Good Public Policy' - The California
Assembly Insurance Committee is considering a bill today that the Association of
California Insurance Companies (ACIC) says would prevent the Department of
Insurance from altering auto insurance rating factors without first studying the
rates and risk of loss.
April 25, 2006
Tucson Shop Owners Receive DuPont’s Joe Jackson Award - Patrick O'Neill
and Michael Quinn, owners of 911 Collision Centers in Tucson, Arizona, recently
received the Joe Jackson Industry Champion Award from DuPont Performance
Coatings (DPC) and DPC Champion Jobbers. The award honors the memory of the
director of DuPont Motor Sports who was killed in a plane crash in October 2004
and recognizes individuals in the collision repair industry who, through
outstanding leadership, heroism, charity or humanitarian works, reflect
admirably on the industry.
Auto recycler network adds staff - Randy Brant has joined CAR Management
Solutions QRP as the director of business development for the automotive
recycler network.
Registration for Aftermarket eForum™ 2006 is Now Available -
Registration for the 2006 Aftermarket eForum™ is now available at the
conference’s Web site. Scheduled for July17-19, 2006 at the Hyatt Regency O'Hare
in Chicago, Ill., the Aftermarket eForum™ is produced by the Automotive
Aftermarket Industry Association (AAIA), in conjunction with Automotive
Industries Association (AIA) of Canada, Automotive Warehouse Distributors
Association (AWDA), Motor & Equipment Manufacturers Association (MEMA), and
Specialty Equipment Market Association (SEMA).
City fleet's repair work gets scrutiny - Cherry Hill, NJ: The city
farmed out car repair work to shops where employees had previous criminal
charges filed against them for insurance fraud, the Courier-Post has learned.
Fancy car
gadgets are just too needy - New technologies permeate all aspects of
our lives. Our vehicles are no exceptions. -- Servicing and repairing many of
these advanced electronics systems can be an elaborate affair, requiring the use
of specialized equipment that is sometimes too expensive for smaller,
independent shops. -- The result is that more repairs need to be done at
dealers, which generally charge higher rates. A bill before Congress, the Right
to Repair Act, would require automakers to provide technical information to
independent shops.
Body shop owner fights to stay after relocation - NE: Glenn Hillhouse
has to move out of his auto body shop at 21st and P streets to make way for the
massive Antelope Valley Project, which is bringing new streets, bridges and
flood control to the city’s core.
Automotive Student Awarded $5,000 National Scholarship - A third-year
Pennsylvania College of Technology student, working to complete his bachelor’s
degree in automotive technology management, is one of five students nationwide
to receive a $5,000 scholarship from CCC Information Services Inc.
MHS on
top again in auto challenge - Maui District drove off with the top
prizes at the 2006 Ford/AAA Student Auto Skills Hawaii contest held Saturday on
Oahu – taking the top three places in the competition, team members from Maui
High and Lahainaluna reported.
Connected to the World - IA: It started in January of 1999 when Austin,
now 61, decided to take his collectible and vintage dealership online. Classic
Connection sales skyrocketed.
Exide to close Louisiana battery plant in June - Exide Technologies, which makes
batteries for cars and trucks, on Monday said it will close its Shreveport,
Louisiana, lead-acid battery plant effective June 22.
Spring
Car Care Relief for Your Vehicle - Winter can be tough on lots of
things, including cars and trucks. Cold temperatures, snow and ice, road salt
and pothole-causing freeze-thaw cycles put car batteries, tires, brakes and
suspensions to the test. Spring is the time to rid vehicles of winter's sins in
time for summer travel.
Mitsubishi to End DaimlerChrysler - Mitsubishi Motors Corp. will
dissolve an engine-production venture with DaimlerChrysler AG by selling its
stake to the German automaker, a news report said Monday.
Volvo Reports 23
Percent 1Q Profit Growth - Truck maker AB Volvo posted a 23 percent
increase in first-quarter earnings Tuesday and upgraded its market outlook for
Europe and North America.
Nissan
Reports 9.4 Percent Rise Profit - Nissan reported a 9.4 percent rise in
profit for the January-March quarter Tuesday as the Japanese automaker announced
it was building a vehicle plant in Russia as part of its global expansion.
Expanding Your
Business – Without DRPs - AutobodyOnline: There’s little doubt that much of the growth
some collision repair businesses have experienced over the past decade has been
fueled by insurer direct repair programs (DRPs). After all, the percentage of
insurance-paid work handled through DRPs quadrupled – to more than 30 percent –
between 1996 and 2002. Most major insurers are already well over that 30 percent
mark, with some at 70 percent or more.
The E-myth ... the
Enemy Within - AutoInc: Understanding the three psyches of a shop owner
- entrepreneur, manager and technician - can help you run your business better.
Senator Wright Impressed By Young Man's Story - MEXICO, NY: Devon
Robillard, an Oswego High School student spoke at a recent Oswego County BOCES
Board of Education meeting about his experience in Rich Rainville's Auto Body
Repair class at BOCES. He spoke with such passion about the program that another
speaker from the board meeting stayed to hear the entire speech, even though he
had other commitments in Watertown.
Body shop neighbors exhausted by fumes - MA: For nearly a decade,
Jamaica Plain Auto Body and residents of nearby Cranston Street have been caught
between a rock and a hard place. Now, something may have to give.
Proposed Louisiana
Licensing Bill Sets Repair, Replacement Requirements - Yesterday's
announcement that the Louisiana state legislature is considering a bill that
would require the licensure of all auto glass repair and replacement technicians
in the state caught some glassBYTES™ readers by surprise.
Body works of art
- Bruce Wienberg was a Cole Camp teenager when he decided that being an auto
body man would be a good career.
Save Money With Service-minded Independents - Big manufacturers are
working overtime to garner a piece of consumers' maintenance and repair budgets.
From cars to computers, the big boys tout factory-trained technicians and
original equipment parts, but independent companies with skilled professionals
often can do the job for a lot less, according to Automotive Service
Professionals.
Auto
dealers laud education bill - With the legislature looking to adjourn on
May 4, decisions must be made on a number of educational issues. One bill,
Senate Bill 3059, has been debated on editorial pages state-wide. The focus is a
common core curriculum. The Hawaii Automobile Dealers' Association is one of the
bill's advocates.
Gentex earns Toyota award for fifth year - For the fifth year in a row,
the Zeeland-based Gentex Corp. has been recognized by Toyota Motors of America
with its "Excellent Quality Award."
The Industry Isn't Going South, It's Just Moved There - The domestic
automobile industry seems to have gone to hell in a handbasket. The appearance
is framed by bankruptcies in the automotive parts manufacturing business and by
the enormous financial difficulties facing General Motors Corp. and Ford Motor
Co. -- But the appearance is profoundly misleading.
Carmakers sue Vermont over emission standards - Vermont is a target of
carmakers who say some states are overstepping their bounds by limiting the
amount of pollution that new cars sold within their borders can produce.
Car parts
firm’s gloom over UK plants - The Crisis in the North American car
industry is biting in Britain. Visteon UK, an arm of the American car-parts
giant, has warned staff of mounting losses, uncompetitive pay rates and a threat
to their pensions.
Air bags improve safety in vehicles through years - Since Ralph Nader's
seminal book Unsafe at Any Speed came out 40 years ago, seat belts, padded
dashboards, collapsible steering columns, improved bumpers and other safety
features have become standard. After seat belts, the most significant advance in
automobile safety has been the air bag.
Cooper
Standard cruising along as automotive industry sputters - The
Cooper-Standard Automotive plant in Hawkins County has remained immune to an
economic slump being experienced throughout the automotive industry by keeping
down manufacturing costs and serving a diversified market.
Ford to close local
plant; 1,800 jobs to be lost - The Highland Park plant in St. Paul,
which produces the Ranger, is one of many plants to close as Ford looks to
eliminate 30,000 jobs nationwide.
AutoZone Appoints
New CFO - AutoZone Inc., the nation's largest auto parts chain, on
Friday tapped William T. Giles of Linens 'n Things Inc. to be its new chief
financial officer.
Hyundai Motor
Co. chairman questioned - South Korea: Hyundai Motor Co. Chairman Chung
Mong-koo appeared Monday for questioning by prosecutors about a slush fund
scandal engulfing South Korea's largest automaker.
Data on crashes may stall senior discount - MA: The state's insurers are
questioning whether the discount still makes sense at a time when national data
indicate that older drivers, particularly those 75 and above, are filing claims
and dying in crashes at a pace that rivals that of teenagers.
Fewer organs available for donation, agency says - The B.C. Transplant
Society says fewer people are dying from accidents and heart disease, and that
means fewer organs are available for donation.
Hood gains access to State Farm documents - A judge April 11 refused to
prevent Mississippi Attorney General Jim Hood from reviewing documents that
could link State Farm Insurance Co. with fraudulent activity in the wake of
Hurricane Katrina.
Lakin firm urges
claimants to file for settlement after deadline passes - A few weeks
ago, the Lakin Law Firm issued a press release urging potential class members to
make claims against dozens of automobile insurers who have agreed to pay
approximately $92 million to settle a Madison County class action lawsuit.
Policy Change - With the fallout from lobbyist scandals still resonating
around Washington, an epic big-money battle is shaping up over possible changes
in the regulation of one of America's largest industries: insurance.
April 21, 2006
VOC Issues: An
Update - AutoInc: If you're a body shop owner or anyone affected by VOC
regulations, don't fear their coming. Just educate yourself. The regulations
will be phased in slowly, over time, so don't panic.
PPG Reports Record First Quarter Sales, Earnings Per Share - PPG
Industries reported today first quarter net income of $184 million, or $1.11 a
share, including aftertax charges of $23 million, or 14 cents a share, for
business restructuring; and $6 million, or 3 cents a share, to reflect the net
increase in the current value of the company's obligation under its asbestos
settlement agreement reported in May 2002. Sales were $2.6 billion.
PPG Chairman
Issues Optimistic Outlook for Company - PPG Industries has a "great
future" as the company's performance in 2005 demonstrated, said Charles E.
Bunch, chairman and chief executive officer, at the company's annual meeting of
shareholders.
The Sherwin-Williams Company Reports First Quarter 2006 Earnings Results
- The Sherwin-Williams Company announced its financial results for the first
quarter ended March 31, 2006. Consolidated net sales increased $230.0 million,
or 14.9%, to $1.8 billion in the quarter as a result of continuing strong
domestic and international paint sales. Consolidated net income increased 36.5%
to $113.7 million in the quarter from $83.3 million in the first quarter of
2005 and improved as a percent to net sales to 6.4% from 5.4% last year due
primarily to improved operations.
Akzo Nobel 1Q
Profit Falls 13 Percent - Dutch chemicals maker Akzo Nobel NV said
Thursday first quarter earnings fell 13 percent to euro249 million (US$308
million), due to an unfavorable comparison with the same quarter a year ago
when it booked a large extraordinary gain.
More and More,
It's Offshore - A look at the state of offshore outsourcing in its
earlier days; project management tips remain solid. -- Jim Beattie is chief
technology officer at CCC Information Services, a Chicago company that sells
packaged software to 350 insurance companies to connect them with field agents
and 15,000 body shops.
Speaker backs bill to license 'windshield technicians' - The Louisiana
House of Representatives has voted to support a measure that would make workmen
who install and repair automotive windshields earn a state license by passing a
test and paying a fee of up to 75 dollars.
Auto Repair
Industry in the US - About 130,000 companies in the US are involved
primarily in auto repair, with combined annual revenue of $65 billion.
Jury gives fired worker $1.75 million - Steve Murray sued Cars
Collision Center of Colorado, which has shops in Pueblo, Colorado Springs and
the Denver area, in 2004.
Automotive Coatings, Adhesives & Sealants Demand to Exceed $7 Billion in 2010
- Growth in OEM demand will be supported by US motor vehicle production, which
will rebound from declines posted during the 2000-2005 period. However, these
gains will be mostly linked to passenger cars, which consume less coatings,
adhesives and sealants on a per vehicle basis than larger vehicles. Aftermarket
demand will benefit from gains in the number of vehicles in use, which will
rise 1.5 percent annually through 2010.
Run-Flat
Tires Go Mainstream - For more than a decade, car companies have put
run-flat tires on some of their most exclusive models. But now, more auto
makers are offering them on a wider range of vehicles, including sports and
luxury vehicles, family minivans, and subcompact cars like the MINI Cooper.
Christian Brothers Automotive plans Southaven location - Houston-based
Christian Brothers Automotive Corp. continues to expand their automotive
service and repair company in the Memphis area with the recent opening of a
Collierville location and plans to open in Southaven.
Feds Probe Toyota Pickup, SUV Suspension Failures - Toyota pickup
trucks and SUVs are the focus of a National Highway Traffic Safety
Administration (NHTSA) recall query because of reports that the front
suspension ball joints may come apart. Toyota trucks that are included in the
investigation are the 2002-2004 Tundra, and Sequoia, 2001-2004 Tacoma and
2001-2002 4Runner.
Ford Reports $1.2
Billion Loss in 1Q - Ford Motor Co. said Friday it lost $1.2 billion in
the first quarter as revenues fell and the company started a massive and costly
North American restructuring effort.
Insurers Expected to Pay $1.38B for Q1 Cat Losses - PCS estimates that
the seven catastrophes produced nearly 390,000 claims in 19 states. Personal
lines claims accounted for 53 percent of the total, 12 percent for commercial
lines claims and 35 percent for auto claims. The large number of vehicle claims
stemmed from hail and tornado damage.
18,500
consumers helped so far in 2006, $9.3 million in insurance claims recovered -
In the first quarter of 2006, Insurance Commissioner John Oxendine’s Consumer
Services and Managed Care Divisions helped more than 18,500 Georgia consumers
settle disputes with their insurance companies, returning $9,312,721 in
insurance claims to these consumers -- money they might not have received
without his help.
Group 1
Automotive Appoints After Sales Industry Veteran to Lead Parts and Service
Operations - Group 1 Automotive, Inc., a Fortune 500 automotive
retailer, today announced the appointment of Wade D. Hubbard as vice president,
fixed operations, effective May 1. Hubbard has extensive parts and service
experience with a variety of automotive brands in both the United States and
Europe. In this role, he will oversee Group 1's fast-growing parts and service
business across 31 different brands.
CertifiedFirst welcomes new chairman - Members of the CertifiedFirst™
Network of collision repair centres advisory council elected Ken Friesen,
president and CEO of Concours Collision Centres in Calgary, AB, to the position
of chairman of the Council this April during the Council's 4th annual meeting
held in Vancouver, B.C..
Glass TEXpo™ 06
Wraps Up - With seminars drawn to a close and booths packed up, many
Glass TEXpo '06 attendees left San Antonio with a better understanding of the
glass industry and a stronger commitment to their state association. These two
messages were important throughout the show, which ran from April 7-8.
Auto Repair Scam Targeting Elderly Women - CA: The Roseville Police
Department has received several calls over the past month from elderly female
drivers who were targeted by mobile scam artists.
Car checking system unveiled - Trader Media Group, the owner of Auto
Trader magazine, is to launch a vehicle checking system to allow dealers and
buyers to investigate a car’s history.
Take Action To
Protect Your Industry - SEMA: Years ago when SEMA was formed, one of
its critical missions was to protect the industry’s interests concerning laws
and regulations. It’s no different today, except that SEMA now deals with an
incredible range of initiatives, arising at both the state and federal levels.
Toyota plans to sell ethanol cars in US by 2008 - Toyota Motor
Corp. plans to sell ethanol-powered vehicles in the United States by 2008,
following the lead of domestics General Motors Corp. and Ford Motor Co., the
Financial Times reported on Wednesday, citing an unnamed company executive.
Visteon Appoints VP, Corporate Strategy - Visteon Corporation, a
leading supplier of automotive systems and technology, has appointed Asaf
Farashuddin as vice president, corporate strategy, effective April 18.
Visteon to Release
First Quarter 2006 Financial Results by Teleconference and Webcast -Visteon
Corporation, one of the world's leading suppliers of automotive components and
integrated systems, will release its first quarter 2006 financial results at 7
a.m. (EDT) on Tuesday, May 2, via PR Newswire. At 9 a.m. (EDT), a conference
call is scheduled to discuss the results in further detail, as well as other
related matters.
Ignores pains of workers, Visteon - The chief executive of auto parts
supplier Visteon made more money last year than the company he heads. -- That's
shocking, but not surprising. Top corporate executives rarely share the pain of
investors who lose money and employees who lose jobs.
SmarTire Appoints New President and CEO - SmarTire Systems Inc.
announced today that Leif E. Pedersen, a senior sales and marketing executive
with extensive global experience in electronic systems, has been appointed the
new president and CEO of SmarTire, effective immediately.
Do
You Need a Coach? - More entrepreneurs are turning to business coaches
for that extra edge. -- Dina Dwyer-Owens knew she wouldn't have much time to
prove herself. It was 1999, and at the age of 36, she had just been handed the
reins of the Dwyer Group following the death of her father, who had run the
company for nearly two decades. They were large shoes to fill.
Judge Sues
Firm for Denying Katrina Claim - A federal judge who would have
presided over some lawsuits that policyholders filed against insurance
companies after Hurricane Katrina is instead waging his own personal legal
battle against the insurer of his Gulf Coast home.
No-fault bill moves forward - The Senate's auto-insurance bill moves
one more step forward, but without the reform measures insurers are seeking.
April 19, 2006
United Auto Group reports first quarter income up 5% - Michigan's 12th
largest publicly traded company -- today reported net income in the first three
months of the year increased by 5% over the same period a year ago. -- UAG,
which is led by Chairman Roger Penske and operates 294 retail automotive
franchises, representing 40 different brands, and 27 collision repair centers,
today reported first quarter net income of $24.1 million, or 51 cents a share,
up from $22.9 million, or 49 cents a share, from a year ago.
C-TEC students offer auto repair services - OH: C-TEC is offering
several state-of-the-art automotive programs, focusing on diagnosis and
repairs. Students work on donated vehicles for real-world training.
AGRSS™ Registration Spreading in Canada - The long arm of the Auto
Glass Replacement Safety Standard (AGRSS) is reaching even farther with the
registration of two Canadian auto glass replacement shops in Ontario.
Drive-Through Auto Claims Speed Up The Process - Insurance claims are
piling up as fast as the hail came down during last Thursday's storm. -- But
some insurance companies have a convenient way to settle auto claims fast.
Nick
Kostakis inducted into AASP/NJ Hall of Fame - The Alliance of
Automotive Service Providers New Jersey (AASP/NJ) announced that former
president Nick Kostakis is the newest inductee into AASP/NJ's Hall of Fame. The
induction ceremonies took place during the NORTHEAST 2006 Trade Show, AASP/NJ's
annual flagship event.
US auto industry faces profound issues-Chicago Fed - U.S. automakers
and auto parts suppliers face a string of issues created by the changed
competitive landscape, Chicago Federal Reserve President Michael Moskow said on
Tuesday.
Ford urges bankruptcy reform for auto parts sector - U.S. automakers
should be granted a special provision under bankruptcy law that protects them
from damaging production disruptions if key suppliers fail, a Ford Motor
Co. executive said on Tuesday.
Ford Breaks $5 Billion Barrier in Sourcing With Minority Suppliers in 2005 -
* Ford purchased $5.5 billion in goods and services with minority suppliers in
2005. * In its first full year of operation, Ford's Women's Business
Enterprise (WBE) Program purchased $825 million with women-owned suppliers. *
M-Tier technology identifies over $13 billion in diverse spend across the Ford
supply chain.
Ross sees significant risks to US auto industry - Billionaire financier
Wilbur Ross sees a significant risk of North American vehicle sales declining
this year, more market share losses for U.S. auto makers and greater consumer
demand for smaller cars.
United Auto Group sees slow car sales in Midwest - United Auto Group
Inc. (UAG) Chairman Roger Penske on Tuesday said the dealership group saw a
car-sales slowdown in the Midwestern portion of the U.S. in the first quarter,
indicating further pain may be in store for Detroit auto makers depending on
America's heartland for a sizable chunk of retail business.
Carbon Monoxide Leak Forces Evacuation - One thousand employees at the
State Farm Insurance headquarters in Dupont were evacuated after higher than
normal levels of carbon monoxide were detected; no one injured.
PRC learns about scam - NM: An insurance scam that started in El Paso
has spread to Las Cruces, Phyllis Bowman of the Insurance Fraud Bureau told
members of the Public Regulation Commission on Thursday.
Insurer employee in New Jersey ordered to return $3,000 he stole -
Division of Criminal Justice Director Gregory A. Paw announced that a former
Essex County insurance company employee has been ordered to repay the company
more than $3,000 after pleading guilty to stealing insurance premium monies
paid by prospective purchasers of automobile insurance.
Colorado
Senator Kills $10 Per Vehicle Fee for Trauma Care - Facing a difficult
election year and a "buzz saw" of opposition from a range of powerful groups, a
state senator on Monday pulled his plan to charge drivers a $10-per-vehicle fee
to shore up the state's trauma care system.
Former Insurance Company President Makes TDI's Top 10 Fraud List - Each
year the Texas Department of Insurance (TDI) investigates hundreds of cases of
suspected fraud. Its fraud investigators, who are licensed peace officers,
investigate fraud alleged to have been committed by persons engaged in the
insurance business, as well as claim fraud committed by policyholders, service
providers and others.
Allstate's 1st quarter a breeze - After being hit hard two quarters in
a row by hurricane losses, Allstate Corp. beat expectations in the first three
months of this year with a 26 percent rise in profit as the company collected
more premiums and saw less damage to homes and cars.
April 18, 2006
The Right I-CAR Training Delivery For Your Needs - I-CAR:As
collision repair technology advances, I-CAR is committed to meeting the
collision industry’s changing needs by conducting extensive research and, using
this research, developing and delivering the latest information to the
industry.
CAPA
Certified Replacement Headlamps Have Been Approved By AIG Auto Insurance -
The Certified Automotive Parts Association (CAPA) announced that AIG
Personal Lines Division has approved the use of CAPA certified headlamps for
the repair of AIG Auto Insurance policy holder’s vehicles. This is in addition
to the company’s use of CAPA certified metal and plastic car parts.
Y.C.C. Joins CAPA Lighting Program - The Certified Automotive Parts
Association (CAPA) announces that Y.C.C. Parts Manufacturing Co., Ltd.,
headquartered in Chung Hua Hsien, Taiwan, has joined the CAPA Lighting program.
Auto classes find a new home - The Paris Gibson Automotive Technology
Center will open in an old shop at Paris, and it's hard to find anyone who
isn't excited about the project. -- Nationally jobs in the trades are booming,
and automotive shops here are desperate for trained help. -- Employment in the
autotech field is projected to jump 20 percent in Montana from 2002 to 2012,
according to the district. Nationally that increase is expected to be 12
percent.
New York
body shop association supporting bills aimed at clarifying windshield
marketplace - Three bills designed to bring transparency to the
automotive glass industry in New York are seeing bipartisan support among
legislators in both chambers. Empire State body shop owners are being urged to
contact their respective senators and assembly members to help crystallize
passage of the package, which is now in committee.
Allstate Pricing
Changes - A glassBYTES™ reader has reported that Allstate is issuing
work orders with the cost of glass parts differing from the Offer and
Acceptance (O&A) prices outlined in February 2005.
NAGS® approved to license GLAXIS® for GlassMate Software - National
Auto Glass Specifications (NAGS®), a division of Mitchell International, has
been certified to license GLAXIS technology in their latest version of the
GlassMate point-of-sale software.
Autoworks International Designs New Software Module ''ValuMaxx'' for Automobile
Insurance Industry - ValuMaxx, is designed to maximize the revenue
received by insurers from vehicles deemed to be automobile salvage and from
automobiles under repair implemented by insurers. The software module may
assist in managing costs not only in individual insurers portfolio of salvage
vehicles in a cost effective manner, but also in integrating all participating
insurance companies and stakeholders in various phases of repair programs.
AADCO
announces completed transaction - AADCO Automotive Inc. (the "Company")
announces that on April 10, 2006 it completed a shares for services transaction
in which the TSX Venture Exchange has approved the issuance of up to 480,000
shares to Mr. Charles Hodgkinson, President and CEO and a Director, and Mr. Don
Fraser, VP Operations in lieu of a $12,000 cash reduction in each of their
respective annual salaries. -- AADCO supplies recycled OEM and aftermarket
automotive parts to collision repair businesses, mechanical shops, other
recyclers, and consumers throughout the Greater Toronto Area.
Auto Industry Upping Use Of Aluminum To Meet Fuel Standards - Aluminum
has become the second most heavily used component in automobiles and light
trucks, with use of the metal quadrupling in the last three decades as
manufacturers increasingly rely on it to make vehicles lighter and thus more
fuel efficient, industry officials report.
Japanese ready to go on global shopping spree - Japanese companies are
expected to set their sights again on takeover targets in Britain, Europe and
the United States. This time, investment bankers say, there will be an
additional focus on Asia.
Judge rules Allstate's policy exclusions "valid and enforceable" -
Provisions in Allstate Insurance Co.'s policies that exclude damage from
Hurricane Katrina's flood waters are "valid and enforceable," a federal judge
in Mississippi has ruled _ a setback for Gulf Coast policyholders whose claims
were denied by the insurer.
April 17, 2006
This Little
Piggy Went to Market - Autobody Online: Everybody wants honesty in the
collision repair transaction. Insurers have little trust for most body shops
and collision repairers just know that the insurers are cheating their
customers.
San Diegan's auto-claims deal put at $975 million - A veteran of the
auto claims business in San Diego has teamed with a private equity firm, GTCR
Golder Rauner, to buy a division of Automatic Data Processing for $975 million
in cash. -- Tony Aquila, former president of Mitchell International in San
Diego, led the drive to purchase ADP's auto claims software division.
Veteran repair specialist opens new Apex Collision Center - When you
first walk into Apex Collision Center, you might think you´re walking into an
upscale real estate office. Once you see owner Darin Halbleib, most Plainview
residents will notice the same friendly smile that has been greeting them for
years.
John Nickerson Passes Away at Age 60 - Popular retired downtown
businessman, John Nickerson of Plympton, passed away on April 10, the result of
an apparent heart attack. The 60-year-old Nickerson ran Nickerson Auto Body in
the Center for years before retiring and selling the business several years
ago. "Nick" was a member of the Board of Governor's of the Hilltop AA and a
familiar face in Kingston.
Insurance agents busy - Indianapolis: With so much damage from Friday's
storms, insurance companies and auto body shops will be busy for months.
Storm-damaged cars fill up shops - TN: Like a coroner presiding over
the local morgue, Marty Denson, the body shop manager at Miracle Ford in
Gallatin, has watched as a steady stream of bruised and battered cars have
filled the dealer's parking lot over the week.
Ralph's Auto Body & Paint makes cars shine - Since buying the shop that
has now been in operation more than 20 years, bilingual Espinoza added the
paint service, changing the name to Ralph's Auto Body & Paint. This shop also
specializes in fiberglass and has had a new framing machine and a mixing
machine for the paint added to the shop.
Man gets
jail time for selling stolen Mitchell software - ABRN: Authorities in
Las Vegas, Nev., have sentenced a man to nine months in jail for possessing and
selling stolen Mitchell 1 software, thanks to the help of Mitchell 1 sales
representative John Fowkes.
Online
Housing Opens for NACE - ABRN: The International Autobody Congress &
Exposition (NACE) announced that the online housing system is live and open at
www.NACEexpo.com.
Students
pave way to success - SkillsUSA is a national, non-profit partnership
of teachers and school administrators. It prepares students for careers in
trades and technical occupations that range from culinary studies to precision
machining.
Car repair business rescue saves jobs
- UK: There was a ray of hope for Bridlington's struggling economy yesterday
when it was announced that three-quarters of the jobs at a troubled car
valeting and repair service firm had been saved.
Adhesive Masking Film protects plasticized automotive parts - Designed
for interior automotive surfaces, 55 series film provides protection for
plastic surfaces containing plasticizers or where plasticizer migration is an
issue. Product consists of polyolefin film coated with aqueous-based, acrylic
adhesive and is supplied on 2 or 3 mil, clear or tinted polyethylene films in
widths from 1-80 in. and roll lengths up to 15,000 ft.
Mt. Lebanon
woman works to lift troops' spirits - When care packages arrive in
Iraq, even a day of searing heat can seem like Christmas, some soldiers say. -
In less than two years, about 10,000 of those care packages have come from
Operation Troop Appreciation, a Pittsburgh-based nonprofit founded by Kristen
Holloway, a sales manager at PPG Industries Inc.
Ford
recalling 134,365 SUVs - Ford Motor Co is recalling 134,365 Escape and
Mercury Mariner sports utility vehicles to adjust the padding on the driver's
side to prevent injuries during a collision, according to U.S. safety
regulators.
‘Smart' keys backfiring on car owners - A growing auto-theft protection
technology isn't just keeping criminals out of cars, it's keeping the owners
out too.
Toyota to discontinue production of the Celica - Toyota Motor Corp. has
decided to discontinue its production of Celica cars, which were popular with
young people in the 1970s and 80s, company sources said.
SEC sues 3 former execs of MetLife unit for fraud - The U.S. Securities
and Exchange Commission on Thursday accused three former officers of the New
England Financial unit of MetLife Inc. of civil fraud for scheming to hide more
than $100 million of expenses, and said two agreed to settle.
Allstate Files
Notice of Appeal - ASA: Allstate has filed a Notice of Appeal with
reference to the recent decision in Allstate Insurance Company, et al. v. Greg
Abbott, et al. issued by the U.S. District Court for the Northern District of
Texas, Dallas Division. -- The court had held that specific provisions
preventing insurer-owned shops from doing business in the State of Texas were
constitutional. The Automotive Service Association supported the legislation,
H.B. 1131, in the Texas legislature.
AAIA's Schmatz Says Right to Repair Fight Will Continue - Kathleen
Schmatz, president and CEO of the Automotive Aftermarket Industry Association (AAIA),
issued a letter to AAIA members this week to announce that the Motor Vehicle
Owners' Right to Repair Act (H.R. 2048) is nearing a milestone 100
congressional co-sponsors.
Euro-Specialty Smooths Out the Wrinkles - VA: It is inevitable that
most of us will at some point be involved in an auto accident. Hopefully a
minor fender-bender. What happens after the wreck though; insurance companies,
estimates, repairs. It can be, and often is confusing. Jon Griesenbeck is
owner of Euro-Specialty. It's an auto body repair shop in Roanoke and he has
some very good advice.
WATC receives 3M award - Wichita Area Technical College has been
honored as a 3M Top Shop for its technical training emphasizing auto body
collision work.
Earl Scheib, Inc. Agrees to Settle California Wage-And-Hour Class Action
Lawsuit - Earl Scheib, Inc. announced today that it has reached an
agreement to settle a previously disclosed putative class action lawsuit
related to, among other things, how the Company's California subsidiary
classified certain employees under California overtime law over an
approximately seven year period.
Side-Impact Airbag Market Ready to Explode, GM Says - Sensor technology
advancements continue to drive market penetration of active safety systems such
as stability control, but passive systems will see the most significant
near-term growth, says General Motors Corp.
GM adds to stash of Delphi car parts - General Motors Corp. confirmed
Tuesday it is stockpiling some auto parts supplied by Delphi Corp., but it
added that the parts in no way could ensure long-term production in the event
of a strike.
Home Depot tries
selling auto parts - Home Depot Inc., the world's largest
home-improvement retailer, is testing sales of automotive supplies in 10 stores
in the Jacksonville, Fla., area, according to an analyst.
California Woman Arrested for Auto Insurance Fraud - California
Insurance Commissioner John Garamendi announced the arrest of Charleen Smith,
37, for automobile insurance fraud after an investigation by the California
Department of Insurance (CDI).
PCI Says Vote No To Arizona Vehicle Repair Legislation - The Property
Casualty Insurers Association of America (PCI) is asking the Arizona Senate to
vote no on House Bill 2063, a bill that would make it more difficult for
insurers to provide consumers important information about automobile and glass
repair facilities.
Identifix Scores a Direct Hit with 5,000 Automotive Repair Shops -
Identifix, one of the nation's premier sources of online and hotline diagnostic
and repair information, today announced that the number of automotive repair
shops using the award winning Direct-Hit(TM) online system to quickly and
effectively diagnose and repair vehicles has surpassed 5,000 nationwide.
Make A Wish Car - Most teenagers wish they could have a newly decked
out car. One local 18-year old got his wish.--Marty has leukemia which is a
life-threatening disease, so the regional Make A Wish Foundation wanted to make
his dream come true.
Camp Mak-A-Dream
seeks male volunteers - Camp Mak-A-Dream (CMD), a camp for children
with cancer that combines the fun of summer camp with expert health care at no
cost to participants, needs qualified male volunteers for the programs CMD
provides.
Lanxess alloy set for large car parts in Germany - A leading German car
maker is about to start volume production of a large area body part made from
Lanxess’s Triax polyamide/ABS alloy, according to Ludger Meinherding,
automotive key account manager in the company’s Styrenics Resins unit.
Japan urges China to improve practices on auto parts, chemicals - Japan
urged China in an annual government report released Tuesday to improve its
trade practices that Tokyo believes are unfair, such as slapping a tariff on
auto parts as high as that imposed on complete automobiles, and expanding its
list of hazardous chemicals on short notice to effectively block exports of
items containing them.
Eastman
automotive coatings connect visually - New materials section
demonstrates automotive coatings additive solutions for superior aesthetics and
performance for designers through the Eastman Innovation Lab.
GM Looking for
Buyers for Delphi Units - General Motors Corp.'s top purchasing
executive said Tuesday the automaker is trying to help auto parts supplier
Delphi Corp. dispose of noncore businesses by finding buyers for them and
contracting with new suppliers for certain parts.
Ford
Recalling Nearly 20,000 Mustang Cobra Vehicles - Ford Motor Co. said
Tuesday that it was recalling nearly 20,000 Mustang Cobra sports cars after
receiving complaints that the back of the accelerator pedal could become caught
in the floor carpeting and lead to a crash.
ADESA Management to Present at Robert W. Baird & Co. 2006 Growth Stock
Conference - ADESA, Inc. announced today that it will be participating
at the Growth Stock Conference hosted by Robert W. Baird & Co., on May 9, 2006
at the Four Seasons Hotel in Chicago, IL. David Gartzke, Chairman of the Board,
President and Chief Executive Officer, and Cam Hitchcock, Executive Vice
President and Chief Financial Officer, will be presenting on behalf of ADESA.
Kryger Glass Announces Price Increase - Kryger Glass, headquartered in
Kansas City, Mo., is the most recent in a line of auto glass manufacturers and
distributors to announce a 3 percent price increase due to "rising expenses."
G.M. Sells
Last Isuzu Stake for $300 Million - It is the third time since October
that G.M. has sold off a stake in a Japanese auto company, rapidly dissolving
equity partnerships built up over more than three decades, to raise cash that
it needs for restructuring at home. G.M. has already earned $2.7 billion from
the sale of shares of Suzuki Motor and Fuji Heavy Industries, the maker of
Subaru.
Visteon CEO says no problems meeting bank covenants expected - The
chief executive of automotive-parts supplier Visteon Corp. (VC) said Monday he
doesn't expect problems meeting financial covenants as the company looks to
refinance debt coming due next year.
Wireless Tracking in Auto Supply-Chain Logistics - Ford's Oakville
Assembly Complex (OAC) is installing one of the region's largest wireless
communications zones to electronically manage the flow of parts for the
production of the 2007 Ford Edge and Lincoln MKX crossover utility vehicles.
DaimlerChrysler CEO's Base Salary Revealed - Settling a long-pondered
debate, at least in Germany, DaimlerChrysler Chief Executive Dieter Zetsche
made no secret Wednesday of how much he's paid to run the world's fifth-largest
automaker. -- He will receive a base salary of euro1.5 million (US$1.82
million). -- He also stands to receive as much as 150 percent of his base
salary in bonuses if the company meets its goals.
Assessing losses 'can be emotional' - TN: By nearly noon yesterday,
State Farm has fielded 4,227 auto and homeowners' insurance claims related to
this past weekend's natural disaster.
Judge Lets Miss. AG See State Farm Papers - Circuit Judge Steve Simpson
pressed Mississippi Attorney General Jim Hood to explain how it became public
that the grand jury was investigating allegations that State Farm allegedly is
manipulating engineering reports to deny policyholders' claims. Hood denied
that he was a source of that information. -- "It's difficult to keep a matter
like this quiet," Hood said. "There's been absolutely no proof that we've
leaked any information that's improper."
State Farm(R) President Trosino to Retire at End of Year - State Farm
Mutual Automobile Insurance Co. announced today that Vincent J. Trosino Sr.,
its president, vice chairman and chief operating officer, will retire at the
end of 2006, ending a 44-year career with the company.
April 11, 2006
NAMIC Pleased California Auto Repair Bill Modified For Study - In the
wake of stiff industry opposition, a California proposal that would have have
impeded consumer access to affordable auto repairs has been sufficiently
mitigated for now, said a spokesperson for the National Association of Mutual
Insurance Companies (NAMIC).
ACDelco's Wise
Internet Parts (WIP) System Expanded - ACDelco‘s powerful e-business
tools to help make shop owners’ and technicians’ jobs easier have just been
expanded. ACDelco‘s WISE Internet Parts (WIP) electronic parts catalog and
ordering program now offers additional language options. And, WIP is now
available to Independent Service Centers (ISCs) in the Collision segment of the
business.
Former aide, body
shop owner challenge Preston for House seat - Edward C. Gainey has been
trying to oust his former boss, state Rep. Joe Preston, for years. This year
the two are locked in one of the region's most competitive Democratic primary
races, along with body shop owner and former drug dealer William D. Anderson.
Auto parts deal jump-starts I-20 West corridor - GA: In a deal done
last month, Keystone Automotive Operations Inc. inked a 10-year lease for
350,000 square feet in Hartman III, a 525,000-square-foot crossdock-loading
distribution building in Hartman Business Center. Hartman Business Center is a
150-acre industrial park just south of I-20 on Riverside Parkway in the Cobb
County community of Austell.
Pacifica in Takeover Talks; No Agreement Reached - Pacifica Group Ltd.,
which makes auto parts for General Motors Corp., said it is in talks with an
unnamed party over a potential takeover offer. Its shares surged.
NH Auto Scrap Yards
Recognized - New Hampshire Governor. John Lynch, the Executive Council,
and Environmental Services officials recognized 13 auto recycling yards for
becoming New Hampshire’s first certified “Green Yards,” a distinction reserved
for auto salvage yards that use exemplary environmental work practices.
Newest Price Increase Announced: IGC - Import Glass Corp. (IGC) of City
of Industry, Calif., has joined the ranks of auto glass distributors
implementing a price increase in the wake of several large manufacturers
announcing the same.
Show some pride,
pamper your ride - A car or truck that looks good is more pleasurable
to drive and sells faster than one with such flaws as faded paint.
NHTSA
Presents 14 Awards for Safety Accomplishments - During a luncheon at
the 24th Annual Lifesavers conference, NHTSA Acting Administrator Jacqueline
Glassman presented Public Service Awards to representatives of Alaska,
Mississippi and South Carolina for their efforts to pass primary safety belt
laws and 11 individuals and organizations for their work to reduce deaths and
injuries on America’s roadways.
Volkswagen offers SAIC support to build own-brand cars - Volkswagen AG
Monday said it understands the wish of its Chinese joint-venture partner
Shanghai Automotive Industry Corp. to produce own-brand cars and offered
support.
GM's quality quandary - Some General Motors vehicles outrank Toyota's,
but a few troubled models reinforce a bad reputation GM fights to change
Saturn: It craves to be cool again - Today in New York, the brand will
unveil the first examples of what it is calling the new face of Saturn
April 10, 2006
Rolling memorial carries 'Comfort' - Karla Comfort received a lot of
looks and even some salutes from people when she drove from Benton, Ark., to
Camp Pendleton, Calif., in her newly-painted, custom Hummer H3 March 2. -- The
vehicle is adorned with the likeness of her son, 20-year-old Lance Cpl. John M.
Holmason, and nine other Marines with F Company, 2nd Battalion, 7th Marine
Regiment, 1st Marine Division who where all killed by the same improvised
explosive device blast in Fallujah, Iraq, in December. -- The custom job would
have cost $25,000. Out of respect for Comfort's loss and the sacrifices the
Marines made, AirbrushGuy & Co. did it for free.
2005 Salary Survey
Results - Late last year, AASP-MN conducted a survey of its members to
gather information about 2005 employee compensation and benefits in the
Minnesota market. The survey yielded a 25% response rate (40/161) from
collision shops and a 29% response rate (58/202) for mechanical.
Scholarships available - Christopher Bannister, chairman of the
Automotive and Collision Repair Departments at New England Institute of
Technology in Warwick, R.I., has announced the availability of the "Automotive
Technology Outstanding Student Scholarship."
SLO
High auto shop is geared to getting youngsters jobs - The trophies
stand out in the auto shop class at San Luis Obispo High School, most notably
because they seem to be overflowing from the corners with little room for more.
These
days, an honest mechanic is hard to find - I hung up the phone and sat
in stunned silence. I had just found out I’d lost something I truly treasured —
the only mechanic I absolutely trusted.
'Appetite for
colour' eats into silver's long reign - Silver's six-year reign as the
top vehicle colour choice worldwide is being challenged by gray, now infused
with an array of colours, and a stronger, bolder blue.
GM preps for possible walkout - Avoiding Delphi stoppage is a priority,
but automaker is stockpiling parts just in case, Wagoner says in TV interview.
Pay cut 7.5 percent at auto parts plant - Employees at the Hayes
Lemmerz International manufacturing facility in Montague saw a 7.5 percent pay
cut as part of a pay reduction for all employees at the company's eight U.S.
facilities.
Auto parts maker adding 240 new jobs - Auto parts maker Integrated
Manufacturing and Assembly plans to build a 123,000 square-foot plant in
northeast Indiana that will hire 260 employees in the next year.
Autoliv receives
three awards from Toyota - At Toyota's European Supplier Conference in
Brussels last week, Autoliv Inc. received three additional awards from the
largest Japanese vehicle producer. This follows the Value Improvement Award for
2005 that Autoliv received three weeks ago at Toyota's global headquarters in
Nagoya, Japan.
AHP Legislation
Awaits Approval of Senate - ASA: U.S. Sen. Michael B. Enzi, R-Wyo.,
chairman of the Health, Education, Labor and Pensions (HELP) Committee, has
released a survey that reveals tremendous bipartisan support for small business
health plans. An overwhelming 89 percent of the public surveyed favored the
small business health plan concept; 6 percent opposed. Enzi released these
results March 30, 2006.
Insurance firms limit
their risk in disasters - The companies that provide Americans with
their homeowners' and auto insurance made a record $44.8 billion profit last
year even after accounting for the claims of policyholders wiped out by
Hurricane Katrina and the other big storms of 2005, according to the companies'
filings with state regulators.
About 1,000
Allstate Workers Take Buyout - About 1,000 Allstate Corp. employees
have accepted a voluntary buyout offer, which is hundreds more than the
insurance company expected when it announced the offer months ago.
Progressive
Announces Officer Resignation - The Progressive Corporation accepted
the resignation of Robert T. Williams, an executive officer of the Company,
effective May 17, 2006. Mr. Williams is President of the Company's Drive Group
of Insurance Companies.