Tower Automotive Announces Restructuring and Impairment Charges
GRAND RAPIDS, Mich.--Dec. 28, 2001--Tower Automotive, Inc. announced today that it will be taking restructuring and impairment charges totaling $289 million in the fourth quarter ending December 31, 2001. Of this amount, $277 million relates to non-cash charges associated with goodwill and other asset impairments. The ... Continue reading
Allstate Addresses EEOC Action
NORTHBROOK, Ill., Dec. 28 -- The Allstate Corporation announced today that it is disappointed with the Equal Employment Opportunity Commission's (EEOC) decision to file a lawsuit against the Allstate Insurance Company following its reorganization of its agency system. ``Allstate values its positive relationship with th ... Continue reading
Auto Club: California Motorists Face New Laws in 2002
LOS ANGELES--Dec. 28, 2001--California motorists will face a number of new state laws enacted this year, including laws supporting child passenger safety, according to the Automobile Club of Southern California. "Many of the new laws target safety and children, distracted driving, red light enforcement, highway memoria ... Continue reading
The Daily Telegraph reported that Jack Welch, former chief executive of General Electric, has been recruited as an adviser to Fiat by an executive who was his right-hand man. He is already on the Fiat board as a non-executive, but Paolo Fresco, chairman, wants his former boss to provide more detailed advice on strategy ... Continue reading
Pro Spec Miata Selects Series Tire Supplier
FONTANA, CA -- Kumho Tire USA has been named as the official tire supplier for the Pro Spec Miata Series. This new series will be sanctioned by the Sports Car Club of America (SCCA) and is an outgrowth of the Spec Miata class, one of the SCCA's fastest growing classes. More than 200 cars are registered in the Spec Miat ... Continue reading
NASCAR's Kevin Harvick Joins Flis Motorsports, RE/MAX Racing for Rolex 24 At Daytona
NASCAR's Kevin Harvick Joins Flis Motorsports, RE/MAX Racing for Rolex 24 At Daytona DAYTONA BEACH, Fla. (Dec. 28, 2001) -- Flis Motorsports announced that 2001 NASCAR Winston Cup Rookie of the Year and 2001 NASCAR Busch Series Grand National Division champion Kevin Harvick will join RE/MAX cofounder Dave Liniger, as w ... Continue reading
Magazine Names Chevrolet Avalanche 2002 Truck of the Year
PHOENIX--Dec. 28, 2001--MOTOR TREND magazine announced today the selection of the Chevrolet Avalanche as Motor Trend's 2002 Truck of the Year (issue dated February 2002). The award-winning Chevrolet Avalanche was unveiled at the 2002 Arizona International Auto Show. Motor Trend's editorial staff selected this year's wi ... Continue reading
Wonder Tool to Move Operations to Canada
STUART, Fla.--Dec. 28, 2001--Glas-Aire Industries Group Ltd. announced that it has acquired Wonder Tool Inc. ("Wonder Tool"), a wholly owned subsidiary of Cyclo Manufacturing Company ("Cyclo"), a privately held Colorado-based company. Wonder Tool manufactures and distributes a twin head orbital polisher known as the "W ... Continue reading
Telematics Company to Deliver Voice-Enabled News to Drivers
MOUNTAIN VIEW, Calif.--Dec. 28, 2001-- A Telematics Company,today announced an agreement with Reuters , the global news, information and technology group, to provide MobileAria service subscribers with voice-enabled access to Reuters U.S. Online Report and Reuters Stock Reports. Through the agreement, MobileAria users ... Continue reading
New Gov't Bill Will Harm Auto Enthusiasts
Attention Marc: Here is the information on the Federal Scrappage Bill we spoke of today. Thank you in advance for whatever web press you can give to this issue. Time is of the essence as it may appear on the Senate floor as early as mid January. My best, Terry Kohl U.S. Senate Bill Would Fund Scrappage Programs Nationw ... Continue reading
Auto Club: Gasoline Prices in 2001, What a Ride!
LOS ANGELES--Dec. 27, 2001--If Southern California gas prices during the year 2001 were a theme park thrill ride, it would have been closed down for being too wild. With an average price for a gallon of regular self-serve gasoline swinging from as high as $2.01 in May to a current low of $1.08, gas prices have dropped ... Continue reading
LOS ANGELES, Dec. 27 -- The prestigious Greater Los Angeles Auto Show drives into the Los Angeles Convention Center Jan. 5 through 13 featuring more than 1,000 of the industry's newest vehicles, including more than two dozen that are making their World or North American debut. Following are some interesting facts about ... Continue reading
Sears, U.S. Reach Civil Settlement Over 1994-1995 DieHard Automotive Battery Advertising
HOFFMAN ESTATES, Ill., Dec. 27 -- Sears, Roebuck and Co. has reached a civil settlement agreement with the U.S. Attorney for the Southern District of Illinois that concludes an investigation of advertising of certain Sears automotive batteries in 1994 and 1995. ``The investigation related to this matter has gone on for ... Continue reading
We Make It Up In Volume - 2001 Big Sales Little Profit
DETROIT Reuters released this story for distribution: For Detroit's Big Three automakers, 2001 was the best of times and the worst of times as sales surged to near record highs while profits sagged or evaporated. The problem for GM, Ford and Chrysler, especially after the attacks of Sept. 11, was how to lure consumers ... Continue reading
IRL's Sharp Joins Factory-Backed Riley & Scott Effort for Rolex 24 At Daytona
IRL's Sharp Joins Factory-Backed Riley & Scott Effort for Rolex 24 At Daytona DAYTONA BEACH, Fla. (Dec. 27, 2001) -- Riley & Scott Racing and Jim Matthews Racing announced that 1996 Rolex 24 At Daytona and IRL champion Scott Sharp will partner with Brit Guy Smith and team owner Jim Matthews in the 2002 Rolex 24 At Dayt ... Continue reading
LOS ANGELES--Dec. 28, 2001--For the 15th consecutive week, the average price of a gallon of gasoline declined throughout Southern California, southern Nevada and Arizona according to the Weekend Gas Watch, compiled by the Automobile Club of Southern California. The price of gas in the L.A. metro area hovers just above ... Continue reading
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