OAKLAND, CA (May 23, 2006) - Armor All recently launched a new car care Web site that offers enthusiasts tools and advice to create and maintain an ongoing car maintenance log. The Web site, www.aa-ownercenter.com, provides auto-related information on everything from car maintenance reminders to car care tips from trusted experts. Subscribers can customize their own maintenance records based on their current vehicles' requirements. The company also plans to host a message board where car enthusiasts can share information on various car-related topics. In addition, each month a different car care expert will answer consumer questions about automotive maintenance. (Source: Armor All) Honda Shares Its Vision TORRANCE, CA (May 17, 2006) - As part of his mid-year address, Honda CEO Takeo Fukui provided guidance for the company in three major areas through 2010. Globally, Honda intends establish advanced manufacturing systems and capabilities, strengthen the foundation for overseas growth and expand the commitment to reduce Honda's environmental footprint. With specific regard to North America, Fukui said that Honda had several important goals, each with deadlines: * Build two new manufacturing plants by 2008. Besides the new automatic transmission plant in Georgia that began operations this month, Honda is finalizing the location for another new auto plant in the United States, which is scheduled to be operational in 2008. With an annual production capacity of approximately 200,000 units, Honda estimates this plant will employ more than 1,500 workers. The related investment is expected to be approximately US$400 million. For Honda, this plant will have the lowest environmental footprint among other Honda auto plants in North America. In addition, Honda plans to build a new engine plant in Canada, with an annual production capacity of 200,000 units. Honda expects the Canadian plant to begin operation in 2008, and it will produce four-cylinder engines for North American operations. * Introduce a new low-cost hybrid vehicle by 2009. Honda is now developing a new dedicated hybrid vehicle suitable for family use in major automobile markets around the world. The automaker expects to further advancement of fuel-efficient technologies with this new vehicle at a major cost reduction, which will enable Honda to offer this vehicle in 2009 at a price level lower than the Civic Hybrid. Production of this new dedicated hybrid vehicle, including the hybrid unit, will be produced at Suzuka factory. The worldwide sales plan is approximately 200,000 units per year that includes a projected North American sales volume of 100,000 units. * Develop clean diesel vehicles by 2009. Based on its current diesel engine that the automaker has successfully sold in Europe, Honda plans to develop a cleaner next-generation four-cylinder diesel engine. This engine will meet the U.S. Environmental Protection Agency's stringent Tier2 BIN5 emission standard requiring NOx emission levels equivalent to a gasoline-powered vehicle. Honda says it will introduce this super-clean diesel engine to market within the next three years. The company also is developing a clean V6 diesel engine. While improving the fuel efficiency of gasoline engines with Advanced VTEC, Advanced Variable Cylinder Management (VCM) and other technologies, Honda will expand application of hybrid technology to smaller-size vehicles and diesel technology to medium- to large-size vehicles. Through these efforts, Honda plans to accelerate its effort to reduce CO2 emissions. * Introduce a new hydrogen fuel cell vehicle by the end of 2006. Honda is currently developing a new vehicle based on the technology and design of the FCX Concept; the automaker says it will have a drivable model this fall. Honda plans to begin sales of this new fuel cell vehicle before the end of 2009. (Source: Honda) Driver's Ed Goes Online OAKLAND, CA - Whether looking to get a head start on the next school year or to finally get behind the wheel this summer, teens have a new online tool to bring them closer to that coveted driver's license. DriversEd.com (www.driversed.com) was developed to help teenagers prepare for their learner's permit through state-specific practice tests. A Driver's Exam video to prepare students for their behind-the-wheel driving tests. The site also provides information on finding a local Department of Motor Vehicles (DMV) facility and the state-specific forms that one needs to apply for a permit. In addition to learner's permit preparation for all 50 states, the program provides the required DMV certificate-of-completion of drivers' education for teens seeking their first license in California, Colorado, Florida, Minnesota, Nevada, Oklahoma, Virginia and Texas. The site also offers information on drinking and driving and purchasing a new or used car, and the program is available in English, Chinese, Spanish and German. Prices for courses ranges from $75 to $150. Protections are built in that don't allow students to progress too quickly and security measures are in place to ensure the identity of the participant, adds the company. (Source: DriversEd.com) GM Caps Gas For FL, CA Buyers ALPHARETTA, GA (May 23, 2006) - General Motors (GM) announced its "GM Fuel Price Protection Program." This regional program, for California and Florida, caps what consumers pay for gas at $1.99 a gallon for a one-year period when they purchase selected 2006 and 2007 GM full-size SUV and mid-size cars. To participate in the program, consumers who reside in California and Florida must purchase or lease and take delivery of an eligible vehicle between May 25 and July 5, 2006 and enroll in the OnStar Vehicle Diagnostics service. In California, the eligible models include the 2006 and 2007 Chevrolet Tahoe and Suburban (one-half ton models only), Impala and Monte Carlo; GMC Yukon and Yukon XL (one-half ton models only); HUMMER H2 and H3; Cadillac SRX; Pontiac Grand Prix; and Buick Lucerne. Eligible vehicles in Florida include the 2006 and 2007 Chevrolet Impala and Monte Carlo, Pontiac Grand Prix and Buick LaCrosse. Fuel consumption is calculated based on the mileage driven, as recorded by OnStar and the EPA city fuel economy mileage rating for the vehicle. Using the calculation of the consumer's estimated fuel usage each month, they will be credited for the difference between the average price per gallon of premium fuel in their state, as published by the Automobile Association of America (AAA) and the $1.99 gas price protection cap. The credit will be applied each month to a prepaid card issued to the customer. The credits are good until Dec. 31, 2007 and may be used for any type of purchase at any location that accepts MasterCard. There is no mileage limitation. According to GM, a California resident who purchases a 2007 Chevrolet Tahoe and drives it 1,000 miles a month would realize an estimated $103.75 monthly credit, based on the May 15,2006 average premium fuel price of $3.65/gallon. A Florida resident who purchases a 2006 Buick LaCrosse with the standard V6 engine and drives about 1,000 a month would see an estimated monthly credit of $60, based on the current average premium fuel price of $3.19/gallon in that state. Beginning May 25, consumers can visit a dedicated Web site (www.fuelprotection.com) to calculate their potential savings based on their vehicle selection. GM had no comment as to whether the plan would be extended to other states. (Source: GM) Snap-on, Lincoln Educational Services Ink Partnership WEST ORANGE, NJ (May 24, 2006) - Lincoln Educational Services Corp. (LES) has announced a five-year agreement granting Snap-on Industrial, a division of Snap-on, rights to promote and supply hand tools, power tools, technology and diagnostic equipment to senior students enrolled at Lincoln automotive campuses. With the signing of this agreement, Snap-on joins NAPA - which supplies Lincoln automotive campuses with tools, parts and accessories - as a preferred provider. The agreement applies to the seven Lincoln Technical Institutes, Nashville Auto Diesel College, and Denver Auto Diesel College campuses operated by Lincoln, as well as any new automotive schools that the company may acquire. Throughout the term of this agreement, Lincoln students will receive a significant discount on purchases of Snap-on products. "We are committed to featuring the latest automotive technology, training methods and equipment at our campuses," says Larry Brown, Lincoln's president and chief operating officer. "With this agreement, we are further amplifying students' hands-on learning experience by providing them exposure to Snap-on tools, used by automotive technicians industry-wide." To recognize student achievement, Snap-on will also sponsor promotional activities at Lincoln automotive campuses, such as the "Blue Wrench Club." Students who earn this designation will receive a Snap-on certificate of accomplishment and corresponding award. Students will also have at their disposal online ordering capabilities from personal computers and kiosks installed by Snap-on at Lincoln campuses. "It is an excellent opportunity for Snap-on to be selected as the preferred equipment provider for Lincoln's highly-regarded automotive campuses," says Bill Willetts, district sales manager, Snap-on. "We are thrilled to have a role in educating the next wave of auto technicians whose skills will be a critical addition to this country's workforce. (Source: LES)Law Enforcement Hit North America's Highways to Save Lives WASHINGTON, D.C. (May 23, 2006) - Starting June 6, the Commercial Vehicle Safety Alliance (CVSA) will deploy approximately 10,000 specially trained and certified officers to blanket North America's roadways to prevent truck and bus accidents and help save lives. The CVSA is a not-for-profit association of local, state, provincial, and federal officials responsible for the administration and enforcement of truck and bus safety laws in the United States, Canada and Mexico. Its mission is to promote commercial motor vehicle safety and security by providing leadership to enforcement, industry and policy makers Through the program "Roadcheck 2006," federal, state, provincial and local officers will be conducting North American Standard Inspections around the clock for 72 hours from June 6 through 8 throughout North America. These inspections involve a comprehensive 37-step procedure that includes items related to vehicle, driver and cargo safety. Officers also will be giving drivers educational materials on various aspects of commercial vehicle, driver and hazardous materials safety. As has been the case the last few years, Roadcheck 2006 will also focus on enforcement and education of safety belt use among commercial drivers. Although the latest FMCSA statistics indicate an increase in use from 48 to 54 percent, this number is still far too low. In comparison, the use rate among automobile drivers is 82 percent. "Roadcheck is an important reminder of the critical role these officers play every day in the health and well-being of everyone who travels the highways," says Stephen Campbell, CVSA's executive director. (Source: CVSA)Opening a "Window" Into
Advanced Gasket Technology TOLEDO, OH (May 24, 2006) - Dana Corp. announced production of an advanced engine sealing technology featuring value-added electronic features. The product, supplied to a major North American engine manufacturer, is a valve-cover gasket that is fitted to an inline six-cylinder diesel engine that powers Class 2 and 3 trucks. Additionally, Dana has been selected to supply the valve and breather cover for this engine beginning in 2007.
Dana's "Electronic" Window Gasket
(Photo: Dana Corp.)The gasket is unique in that it provides "windows" to power circuits for the fuel injectors. Depending on the need, this type of gasket also can provide power connections for solenoids, sensors, actuators, and glow plugs. By using this technology with single or multiple connections, Dana's electronic "window" gasket simplifies production by reducing the number of components and lowering assembly time and costs. Other advantages include multiple conductor sizes, integrated wiring harnesses, and an increased resistance to heat extremes. Integrating sealed wiring connections directly into the window gasket speeds the assembly process and eliminates the need to seal wire routing holes that are machined directly into the structural engine components, thereby eliminating potential leak paths. Improved serviceability is another benefit of the technology, says Dana, allowing the gasket and harness module to be removed and reused without jeopardizing wiring integrity upon reassembly. In addition to conventional sealing applications, Dana's electronic window gaskets can be integrated into cylinder head covers, transmission pan modules, windage trays, and oil-pan assembly applications, adds the company.(Source: Dana Corp.)FTC: Oil Companies Did Not Manipulate Pricing After Hurricanes WASHINGTON (May 23, 2006) - After investigating allegations of fuel price gouging, the Federal Trade Commission (FTC) reported the results of the study to the Senate Energy Committee. The FTC said it could not determine that gasoline prices had been manipulated by U.S. oil refineries following the devastating hurricanes in the U.S. Gulf Coast last year. Congress called on the FTC to look into whether nationwide gasoline prices had been artificially manipulated by reducing refinery capacity or by any other form of market manipulation or price gouging practices' in the aftermath of Hurricane Katrina, which hit eastern Louisiana last Aug. 29 and Hurricane Rita, which hit eastern Texas and western Louisiana on Sept. 24. In its May 22 report, the FTC reported, "The evidence collected in this investigation indicated that firms behaved competitively." FTC Chairman Deborah Majoras reported that her staff had investigated every possible form of manipulation, including if refiners were artificially underproducing to restrict supply and if they were diverting available fuel to destinations outside the United States. No evidence had been found that oil companies had reduced inventory levels to manipulate or increase market prices or that they had sold lower-priced inventory at higher prices. In addition pipeline operators were reviewed to ensure capacity had not been restricted, and if firms used published bulk spot prices to manipulate the market. Based on the investigation, the commission said it found no instances of illegal market manipulation. But the FTC did find 15 examples of pricing at the refining, wholesale or retail levels that fit relevant legislations defining price gouging; however, the Agency said these instances were outside the scope of current federal laws. Majoras also said she opposed imposing federal restrictions on gas prices, arguing it would be difficult to define and enforce. She said that the FTC is unable to say that federal price gouging legislation would produce a net benefit to consumers and noted that price gouging is difficult to define. It apparently wasn't the news that some committee members were looking for. Senator Daniel Inouye (D-HI) reacted to the report by saying, "We find that the findings do not explain what many consumers experienced in the aftermath of the hurricanes. This report, for example, does not convince the committee that consumers were treated fairly." Senator Barbara Boxer (D-CA) called for a separate investigation into the FTC, questioning whether the FTC understood its mission. They and others on the committee are considering legislation that would ban fuel price gouging, after the House recently passed similar legislation. Currently, while 29 states have price-gouging statues, they vary widely in scope, application and remedies. Despite the emotions and accusations of the public and its elected representatives, the FTC noted that supply and demand was the mechanism in play. (Sources: FTC,
Senate Energy
Committee)U.S. Bankruptcy Court Denies GM Request To Postpone Delphi Hearing NEW YORK (May 25, 2006) - The Washington Post reported that Judge Robert Drain has denied the request by General Motors - Delphi Corp.'s former parent company - asking the bankruptcy judge to postpone the hearing on Delphi's request for permission to void its labor contracts. GM says a postponement would have allowed more time to avoid a disruptive strike at Delphi, which annually sells about $14 billion in car and truck components to the automaker. After the denial of GM's request, hearings on the matter resumed after a week-and-a-half hiatus. A ruling isn't expected until late June at the earliest. Delphi Chief Restructuring Officer John Sheehan, the only person to take the stand when the hearing resumed, was under pressure to say whether Delphi ever intends to unilaterally impose new lower wages if ongoing three-way talks between the supplier, its unions and GM fail. Sheehan told the court, "You have to balance between imposing new wages and still continuing to not disrupt the entire automotive industry and destroy more value than you create. We wake up every morning and evaluate the situation." Sheehan, like other Delphi executives in the past, emphasized that the company prefers a consensual agreement. "If we get to a point in time in the future where the company can find no solution, where its liquidity is evaporating or is being used up, we'd have to consider drastic circumstances," he said. "We hope not to get to those days." He added that Delphi has about $3.6 billion in available liquidity - comprised of $1.9 billion in cash and $1.7 billion in bank credit. He also noted that Delphi's pension plan is underfunded by about $4 billion. Lawyers for Delphi's unions and equity stakeholders insisted that those days are farther away than Delphi says. Specifically they said the auto parts supplier has a bigger financial cushion than company officials admit. Glenn Kurtz, a lawyer for Delphi equity holders at the hearing in U.S. Bankruptcy Court, said the supplier's financial results are running ahead of expectations. "The debtors are not in a financial crisis," Kurtz said.(Source: Washington
Post)
