Federal-Mogul Reports Strong Fourth Quarter 2010 and Full-Year Results
Federal-Mogul Corp. has reported higher sales, gross margin, net income and EBITDA for the fourth quarter and full-year 2010. The company’s sales in the fourth quarter increased $180 million to $1.6 billion with growth in all business segments and all markets, led by a 20 percent OE and 12 percent U.S. aftermarket sales increase versus
SME Announces 2011 Election Results For Int’l Directors and Member Council
All will be installed on November 13, 2010, at the SME Fall Board of Directors Meeting in Dearborn, Mich. Their terms officially begin on January 1, 2011. 2011-12 International Directors Warren R. DeVries, PhD, FSME, is dean of the College of Engineering and Information Technology at the University of Maryland, Baltimore County. Previously, DeVries was
Using Games and Play to Boost Productivity
Back in 2004, we wrote a Herman Trend Alert called "The Future of Gaming." The future is here today. According to a recent study from Pew Research, 97 percent of teens and more than half of all adults play video games. Moreover, Gallup’s recent research suggests that more than 70 percent of employees are “somewhat
2010 PRI Trade Show Offers Variety of Business Profit Opportunities
“It has the latest racing components from 1,100 racing industry suppliers on display in 3,200 booths in Orlando,” said PRI producer Steve Lewis. “In short, the PRI Trade Show is massive. All of the great brand names in race engine components are there, plus over 100 manufacturers of precision machining equipment with their shop machinery
Holley Performance Reorganizes and Emerges From Chapter 11 Bankruptcy
As a result of the reorganization, Holley reduced its debt by over $59 million and obtained new credit arrangements including a revolving credit facility that provides the company with substantial flexibility to pursue its growth initiatives. According to the company’s Chief Executive Officer, Tom Tomlinson, “Holley has emerged with an extraordinarily strong balance sheet which
Are You Ready for More Business?
There are a lot of positive economic signs that consumers are becomingmore comfortable with their financial situation and are beginning toopen their wallets. A recent report states that department stores, grocery chains and eventoy stores are seeing consumers move toward higher-priced andhigher-quality items. As an example, cashmere is gaining in popularityand a New York coffee
Jumping on the Green Bandwagon
Let’s face it, we operate in a dirty environment. But, that doesn’tmean it can’t be cleaned up a bit to make automotive shops part of thegreen revolution taking place across the country. The trend toward green initiatives is growing on the nationallevel, especially through clean-energy technology programs and morehybrid-electric and electric vehicles from the OEs.
Respect Between Shops and Stores Strengthens Both
I have been lucky enough to make sales calls on hundreds of machine shops over the past 30-plus years. Some are still here today and sadly, some are not. In that time I have met a few machine shop owners who were hard working and quite successful. They put in their years, formed an exit
APRA Announces Expanded Relationship with Owner Resource Group
The Automotive Parts Remanufacturers Association (APRA) is pleased to announce that they have expanded their relationship with Owner Resource Group (ORG), naming them “APRA’s authorized financial services provider.” Bill Gager, APRA President who spearheaded the effort to further the relationship, said, “We believe our members need reasonable access to companies that really understand the financial
Federal-Mogul President and CEO Extends Employment Agreement
Alapont joined Federal-Mogul in 2005 and is credited, in conjunctionwith Carl Icahn, with guiding the company to exit from difficultbankruptcy proceedings in the United States and United Kingdom. Underhis leadership, the company has implemented its strategy of sustainableglobal profitable growth, restructured its global manufacturing andengineering network to better serve its diverse customer base andcontinued to
Federal-Mogul Reports Strong Fourth Quarter 2009 Net Income and Record Cash Flow
Federal-MogulCorp. has reported strong fourth quarter 2009 profitability, withhigher gross margin, improved net income of $43 million, or 43 centsper diluted share, and $251 million record cash flow with increasedsales versus fourth quarter 2008. The company said it improvedfinancial performance in each consecutive quarter of 2009 asrestructuring and cost-reduction initiatives enhanced Federal-Mogul’soperating leverage. Stronger demand
AAIA Releases Aftermarket Catalog Enhanced Standard Version 3.0
The Automotive Aftermarket Industry Association (AAIA) has announced the general release of version 3.0 of the industry standard for electronic catalog data. The Aftermarket Catalog Enhanced Standard (ACES) begins the new decade with technology that completely supports the management and exchange of application catalog content, including digital assets, for a wider range of vehicle classes.
Virtual Aftermarket eForum to Highlight Social Media, Product Data Management, eCommerce and Supply Collaboration
Jay Yanko, director, global data synchronization, Edgenet, will kick off the presentations at 10 a.m. with Multi-Enterprise Data Management in the Auto Aftermarket. He will illustrate that in today’s economy, businesses cannot afford to miss opportunities to use product information to drive down costs, strengthen customer relations and sell more. Yanko’s presentation will be followed
Federal-Mogul Reports Profitable Second Quarter with Positive Net Income and Cash Flow
Federal-Mogultoday reported positive net income and cash flow on improved salesversus the first quarter 2009, as the company’s restructuring andcost-reduction initiatives brought improved profits to the bottom line,countering the impact of the global market downturn. "We are pleased to report a profitable quarter, including strongergross margin, reduced selling, general and administrative expenses,positive net income, higher
Herman Trend Alert: Small Businesses Will Likely Lead the Recovery
Previous Herman Trend Alerts have stated that most job creation occursin small- and medium-size businesses. While we have witnessed recentwidespread job losses, small business’ historic net job creation willmake it a key player in our economic recovery. Not surprisingly, manypeople who have not been able to find employment have chosen to go intobusiness for themselves.
Winning the Business Championship, Made Easy
Several years ago, a friend of mine, who had just retired from Indy Carracing asked me to give a dinner presentation to a group of young racedrivers. "Tell them what you learned as a business executive that canhelp them mount a successful racing effort," my friend requested. As Ithought about it, I realized that while
Federal-Mogul Expands Fel-Pro Gaskets Line
Federal-Mogul’sFel-Pro gaskets product line has been expanded to increase the brand’scoverage of late-model domestic and foreign-nameplate vehicles. TheFel-Pro brand’s focus on providing 100 percent sealing coverage forpopular late-model and older applications helps engine rebuilders andrepair shops capture and service larger shares of the automotive andlight-truck sealing markets. The expanded Fel-Pro product line – which now
Management: 10 Areas of Your Business to Examine for the New Year
After a crazy 2008 with gas prices ranging from more than $4 per gallon to below $1.50, a presidential election, a financial meltdown, a drop in miles driven and a federal loan to the Detroit Three, we are now into 2009 with great hopes of good days ahead. These tough times make every owner take
Piston Options and Opportunities
The sport compact market, it was thought, was going to breathe new life into the performance engine market, and for many years, the rapid growth of the market seemed to indicate that there was no limit to how big those little engines could get. Then something happened: to quote Engine Builder columnist and performance expert
Engine Remanufacturing Featured at HDRG Summit and Engine Alley
The Heavy Duty Remanufacturers Group (HDRG) is bringing a new focus to HDAW 2009 in Orlando, FL during the week of February 16, 2009. New diagnostic and engine related technologies will be featured at the HDRG Summit and “Engine Alley” on the Exposition show floor. Electronics on engines has been utilized by the OEM manufacturers