NEWS BRIEFS FOR THE WEEK OF
MARCH 8, 2007Is Chrysler Being Shopped? NEW YORK (March 4, 2007) - MSNBC and Reuters News Service have reported that the private equity firm Blackstone Group is a leading contender to buy The Chrysler Group, the troubled U.S. division of German automaker DaimlerChrysler AG. The Detroit News also reported the news on its Web site on Saturday, citing people familiar with the situation. Blackstone is said to be moving forward with a detailed analysis of Chrysler's finances and operations with an eye toward making a formal bid, according to the news sources. Other possible buyers include Cerberus Capital Management, The Detroit News reported. Neither Blackstone nor Chrysler were not immediately available for comment. In addition, Reuters also reported that the chief executives of General Motors Corp. (GM) and DaimlerChrysler have been meeting since last December regarding ongoing talks about a sale of Chrysler Group to GM. The Reuters reported that spokespersons told the news agency that GM was in preliminary talks to buy Chrysler or to strike an alliance.(Source: MSNBC, Reuters)NJ Considers Proposed
R2R Legislation TRENTON, NJ (Feb. 28, 2007) - New Jersey Senate Majority Leader Bernard Kenny (D-Hoboken) and Sen. Joseph Kyrillos (R-Middletown) are co-sponsoring and have introduced The Motor Vehicle Owners' Right to Repair Act (S-2553) to the state Senate for consideration. The bill is the companion bill to the New Jersey Assembly's bill A-931, co-sponsored by Reed Gusciora (D-Trenton) and Nilsa Cruz-Perez (D-Camden). "New Jersey's motoring consumers and over 7,000 small aftermarket locations are fortunate to have a state legislature that is moving forward to seek relief from the growing monopoly that will prohibit consumers from the right to have their vehicles repaired at their shop of choice," says David Parde, president of the Coalition for Auto Repair Equality (CARE). CARE says it represents companies in the automotive aftermarket, such as NAPA, Midas, CARQUEST, AutoZone, Advance Auto, Jiffy Lube and O'Reilly's Auto Parts. Both bills are supported by the American Automobile Association, National Federation of Independent Business, Alliance of Automotive Service Providers of New Jersey (AASP-NJ) and others. The proposed legislation is opposed by the New Jersey car dealerships, the automakers, the Automotive Service Association (ASA) and other organizations. These opponents say an effective and voluntary solution to the problem is being addressed through the National Automotive Service Task Force (NASTF). According to a press statement from ASA, "The proposed NJ bills would rely on a state agency and the court system to assist repairers in acquiring service information. ASA believes that a viable industry solution is already in place for the service information issue and that service information opportunities have expanded under the ASA-Automaker agreement. N.J. A-931 would strongly promote more government bureaucracy, regulation and litigation." (Sources: CARE, ASA)SEMA Scholarship Applications
Now AvailableDIAMOND BAR, CA (Feb. 26, 2007) - Students preparing for a career in the automotive industry, as well as qualified graduates who are paying off existing student loans, are invited to apply for financial assistance through the Specialty Equipment Market Association (SEMA) Memorial Scholarship Fund (SMSF). Through the program, scholarships ranging from $1,000 to $4,000 are awarded to students enrolled in a full-time program with an accredited university, college or proprietary program in the United States or Canada. The SMSF also includes a loan-forgiveness program that provides financial assistance to graduates who have worked with a SEMA-member company for at least one year and who have an outstanding student loan. Applications are available at www.sema.org/scholarship; submission deadline is April 27, 2007. For more information, contact SEMA at (909) 396-0289 or [email protected]. (Source: SEMA)Autolite Offers Techs Chance
to Win Visa Gift Card DANBURY, CT (Feb. 27, 2007) - The Autolite 2007 Installer Incentive Program, which runs through Dec. 31, 2007, rewards technicians who use premium Autolite spark plugs on their customers' vehicles. Plus, technicians have a chance to win a $2,500 Visa gift card as part of its Premium Loyalty Installer Sweepstakes.
MARCH 8, 2007Is Chrysler Being Shopped? NEW YORK (March 4, 2007) - MSNBC and Reuters News Service have reported that the private equity firm Blackstone Group is a leading contender to buy The Chrysler Group, the troubled U.S. division of German automaker DaimlerChrysler AG. The Detroit News also reported the news on its Web site on Saturday, citing people familiar with the situation. Blackstone is said to be moving forward with a detailed analysis of Chrysler's finances and operations with an eye toward making a formal bid, according to the news sources. Other possible buyers include Cerberus Capital Management, The Detroit News reported. Neither Blackstone nor Chrysler were not immediately available for comment. In addition, Reuters also reported that the chief executives of General Motors Corp. (GM) and DaimlerChrysler have been meeting since last December regarding ongoing talks about a sale of Chrysler Group to GM. The Reuters reported that spokespersons told the news agency that GM was in preliminary talks to buy Chrysler or to strike an alliance.(Source: MSNBC, Reuters)NJ Considers Proposed
R2R Legislation TRENTON, NJ (Feb. 28, 2007) - New Jersey Senate Majority Leader Bernard Kenny (D-Hoboken) and Sen. Joseph Kyrillos (R-Middletown) are co-sponsoring and have introduced The Motor Vehicle Owners' Right to Repair Act (S-2553) to the state Senate for consideration. The bill is the companion bill to the New Jersey Assembly's bill A-931, co-sponsored by Reed Gusciora (D-Trenton) and Nilsa Cruz-Perez (D-Camden). "New Jersey's motoring consumers and over 7,000 small aftermarket locations are fortunate to have a state legislature that is moving forward to seek relief from the growing monopoly that will prohibit consumers from the right to have their vehicles repaired at their shop of choice," says David Parde, president of the Coalition for Auto Repair Equality (CARE). CARE says it represents companies in the automotive aftermarket, such as NAPA, Midas, CARQUEST, AutoZone, Advance Auto, Jiffy Lube and O'Reilly's Auto Parts. Both bills are supported by the American Automobile Association, National Federation of Independent Business, Alliance of Automotive Service Providers of New Jersey (AASP-NJ) and others. The proposed legislation is opposed by the New Jersey car dealerships, the automakers, the Automotive Service Association (ASA) and other organizations. These opponents say an effective and voluntary solution to the problem is being addressed through the National Automotive Service Task Force (NASTF). According to a press statement from ASA, "The proposed NJ bills would rely on a state agency and the court system to assist repairers in acquiring service information. ASA believes that a viable industry solution is already in place for the service information issue and that service information opportunities have expanded under the ASA-Automaker agreement. N.J. A-931 would strongly promote more government bureaucracy, regulation and litigation." (Sources: CARE, ASA)SEMA Scholarship Applications
Now AvailableDIAMOND BAR, CA (Feb. 26, 2007) - Students preparing for a career in the automotive industry, as well as qualified graduates who are paying off existing student loans, are invited to apply for financial assistance through the Specialty Equipment Market Association (SEMA) Memorial Scholarship Fund (SMSF). Through the program, scholarships ranging from $1,000 to $4,000 are awarded to students enrolled in a full-time program with an accredited university, college or proprietary program in the United States or Canada. The SMSF also includes a loan-forgiveness program that provides financial assistance to graduates who have worked with a SEMA-member company for at least one year and who have an outstanding student loan. Applications are available at www.sema.org/scholarship; submission deadline is April 27, 2007. For more information, contact SEMA at (909) 396-0289 or [email protected]. (Source: SEMA)Autolite Offers Techs Chance
to Win Visa Gift Card DANBURY, CT (Feb. 27, 2007) - The Autolite 2007 Installer Incentive Program, which runs through Dec. 31, 2007, rewards technicians who use premium Autolite spark plugs on their customers' vehicles. Plus, technicians have a chance to win a $2,500 Visa gift card as part of its Premium Loyalty Installer Sweepstakes.
To participate in the program, technicians can register online at www.autoliteplp.com. Points are earned by saving the box tops from Autolite brand XP Xtreme Performance, Double Platinum, Platinum and Copper Core spark plugs, as well as Autolite Professional Series wire sets. Points can be redeemed anytime, or saved and cashed in all at once at the end of the program. Prizes include a portable DVD player, iPod Nano, Alpine mountain bike, Exxon gas cards and NASCAR apparel. Technicians can also enter to win a $2,500 grand prize Visa gift card as part of the Premium Loyalty Installer Sweepstakes. Technicians who submit an order form will automatically be entered. However, there is no purchase necessary to participate. Official rules and more information on how to enter this sweepstakes can be found at www.autoliteplp.com.(Source: Honeywell Consumer Products Group)Goodyear Gemini, NASCAR Performance Announce National Car Care Month Promo
CHARLOTTE, NC (Feb. 23, 2007) - Goodyear Gemini and NASCAR Performance are promoting the newly released Car Care Guide and National Car Care Month at the same time. During the month of April, all consumers who visit a participating Goodyear Gemini Automotive Care provider and purchase a Spring Car Care Package will receive the 56-page Car Care Guide for free while supplies last. Former NASCAR Champion Rusty Wallace, the host of the syndicated TV series NASCAR Angels, will promote National Car Care Month and the Car Care Guide offer in every episode throughout April. Now in its second season, the series features stories of deserving people who need car care help. It is available in 95 percent of the country via local broadcast stations and the WGN Superstation cable network.(Source: NASCAR)Rancho Introduces Spring Promotion LONG BEACH, CA (Feb. 15, 2007) - For consumers who are planning to off-road, tow a trailer or replace shock absorbers this summer, Rancho is offering a "Buy 3, Get the 4th Free" promotion. Through April 30, 2007, consumers who purchase any three qualifying Rancho shock absorbers, including the RS9000X Pro Series, RS9000X, RS5000 and RSX shocks, will earn the fourth unit free. More information on the promotion is available online at the "Dealer" link on the
www.GoRancho.com Web site.(Source: Tenneco)Congress Extends Antitrust Modernization Extension ActWASHINGTON (Feb. 13, 2007) - Congress has passed legislation, the Antitrust Modernization Commission Extension Act of 2007 (H.R. 742), to extend the termination date for the Antitrust Modernization Commission (AMC) to 60 days after the commission's report to the president and to Congress. The AMC was created by Congress to provide a complete and extensive report on whether antitrust laws in the United States need to be modernized. This report will incorporate a variety of testimony and views from various parties associated with the function of antitrust laws. Currently, the commission is scheduled to dissolve 30 days after the report is presented. The AMC is expected to present its report by the April 2, 2007, deadline. Sponsors wanted to provide the commission with time to wrap up and finalize its report and shut down its operations. This deadline extension will not delay the submission of the AMC's report.(Source: U.S. House of
Representatives)AAA Opens Travel Planner to Non-Members AURORA, IL (Feb. 20, 2007) - AAA opened its proprietary online mapping tool to the public. Once reserved strictly for AAA's members, the
TripTik travel planner links a mapping tool with travel knowledge and information to create the nation's first online "travel agency" for motorists, says the auto club. The Web site enables motorists to access tools - maps, local driving directions and destination information - to plan cross-country road trips and fly/drive vacations. Other features include road condition information (construction and congestion notes) to reduce travel delays and direct links to booking resources. In addition, the site provides the locations of and fuel prices for more than 100,000 gas stations nationwide. (Source: AAA)Vehicle Longevity Increases in 2006 SOUTHFIELD, MI (Feb. 23, 2007) - According to the vehicle population report released by R. L. Polk & Co., the median age of passenger cars in operation increased to 9.2 years in 2006, a record high. For trucks, the median age increased slightly from 6.8 years in 2005 to 6.9 years in 2006. "The median age of trucks continues to be lower than cars, due in part to the increased variety of light trucks and SUVs available in the market over the last five years," says Mike Gingell, vice president of Polk's Aftermarket team. "However, the increase in median age for light trucks in 2006 suggests light truck owners are driving their vehicles longer before considering or switching to a car. We anticipate light trucks to continue making up a larger percentage of the vehicle population." The study also notes that the percentage of light vehicles in use that were 11 years of age and older increased one percentage point over last year to a new all-time high, representing 35.8 percent of the light vehicle population.(Source: R. L. Polk &
Co.)
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