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Automotive News
KLM Performance's Automotive News coverage is updated daily with news updates published as they are released to the media. These updates cover the latest developments in trucks, add-on components, racing, and the truck enthusiast lifestyle. Feel free to discuss any news releases in KLM's Discussion Forum.
Wednesday, October 17, 2007
Prepare Your Car Now for Winter Driving Conditions
Prepare Your Car Now for Winter Driving Conditions DALLAS, Oct. 17 /PRNewswire/ -- The weather is turning cooler, the leaves are turning red and gold, and winter is right around the corner. Now is the perfect time to prepare your car before the first arctic blast hits. Spending a little time now may save you from being stranded along an icy road in January. To get your car ready, there are some critical items that need to be checked. This doesn't have to be a time consuming process, and you don't have to do it all yourself. You can take your car to your local fast lube center and have them inspect your car to make sure your vehicle is ready for the colder months ahead. But what do you need to make sure they check? In addition to checking your fluids, the battery is probably one of the most critical items on your checklist. The lifespan of a battery is normally three years, but harsh winter weather can cut that in half, so it is better to have it checked now to avoid being stranded in below freezing conditions. The antifreeze/coolant reservoir should be checked to make sure the fluid levels are where they should be, and the proper fluid should be added if needed. The windshield wiper blades should be inspected to make sure they are not cracked or warped. The last thing you want to happen in the middle of a snowstorm is for your wipers to fail. You can also add de-icing windshield wiper fluid that will help keep your windshield clear when the temperatures drop below freezing. If you have recently purchased a car, it probably has a TPMS (Tire Pressure Monitoring System) which alerts you when your tires are not inflated to the correct levels. You just might find that as the temperature drops the alarm will sound. If your car does not have one of these systems, be sure to check your tire pressure frequently during the winter and summer. Tires that are over or under-inflated can lead to poor alignment and possible blowouts -- something you definitely want to avoid when the roads are covered in ice and the temperatures are below freezing. An additional bonus to keeping your tires inflated properly is that you will get better gas mileage and save money at the pump. Speaking of the pump, you should keep your gas tank at least half full in the winter to prevent gas lines from freezing, and make sure the gas cap is on tight. To find a member fast lube center near you who can inspect your vehicle, and to see more tips on winterizing your car, go to the consumer section of the Automotive Oil Change Association's Website http://www.aoca.org/consumers.cfm. For more information, contact:
Steve Christie
Executive Director
800-331-0329
First Call Analyst:
FCMN Contact:
Source: Automotive Oil Change Association
CONTACT: Steve Christie, Executive Director of Automotive Oil Change
Association, 1-800-331-0329 Web site: http://www.aoca.org/
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Profile: automotive-news
posted by automotive-news # 6:12 PM
ECLIPSE Teams with Santa Monica Subaru and 'The Adam Carolla Show' to Customize Danny Bonaduce's Ride and Raise Money for At-Risk Kids in Los Angeles
ECLIPSE Teams with Santa Monica Subaru and 'The Adam Carolla Show' to Customize Danny Bonaduce's Ride and Raise Money for At-Risk Kids in Los Angeles Online Bidders To Vie For The Keys To Danny Bonaduce's Customized Subaru Impreza WRX With 100% Of The Highest Bid Benefiting Optimist Youth Homes & Family Services TORRANCE, Calif., Oct. 17 /PRNewswire/ -- ECLIPSE, designer and manufacturer of precision in-dash navigation and car stereo products, is teaming-up with Santa Monica Subaru and 97.1 FREE-FM's Adam Carolla Show to build a custom vehicle that will be auctioned online, starting October 30, 2007, to benefit the children and families served by Optimist Youth Homes & Family Services (Optimist) -- one of the oldest and largest child welfare non-profit agency in California. The all-new 2008 Subaru Impreza WRX 5-door was fully donated by Santa Monica Subaru and ECLIPSE provided the sound system, complete with ECLIPSE's new AVN2210p in-dash navigation head unit with detachable TomTom portable device. Starting today, interested buyers and supporters can go online to the FREE-FM site (http://www.971freefm.com/pages/1100756.php) to learn more about the auction. The car stereo installation process will take place at Al & Ed's Autosound in Costa Mesa and once the car is complete, images of the vehicle will be posted online at FREE-FM's Web site. The vehicle will be unveiled at Optimist's annual Mentors Gala on October 24th at the Universal Studios Globe Theater. Danny Bonduce will test drive the car and then kick-off the online auction on October 30th at an autograph signing in the ECLIPSE booth at SEMA, in Las Vegas. The auction will run on eBay until November 8th at 11:59 PM. The highest bidder will be handed the keys to the car at the Greater Los Angeles Auto Show on November 24th, where Bonaduce will present a check to Optimist, in the full amount of the winning bid. The vehicle will be on display in the FREE-FM booth at the Greater Los Angeles Auto Show from November 24th - November 25th. "I cannot think of a better reason to outfit a vehicle," said Michael West, director of marketing at ECLIPSE. "We're happy to be working with Santa Monica Subaru, FREE-FM and Al & Ed's Autosound, each of which provide the many elements we need to make this creative and exciting charity auction possible." "With new, more sophisticated styling, the new 5-door Subaru Impreza WRX breathes new life into the compact performance market," said Don Marino, general manager at Santa Monica Subaru. "The winning bidder will be among the first to experience its significant improvements in comfort and utility. The vehicle delivers the same handling, performance and Subaru Symmetrical AWD that made the original Impreza such a success." Throughout the vehicle auction campaign, two lucky listeners of The Adam Carolla Show will win ECLIPSE's new AVN2210p all-in-one audio, visual and navigation in-dash unit with detachable TomTom portable navigation device. The unit offers standard internal Bluetooth capabilities, iPod cable connectivity and flash memory music utilizing a front access USB port with complete onscreen function control, as well as CD, CD-R/RW, MP3, WMA compatibility. About Optimist Youth Homes and Family Services Founded in 1906, Optimist Youth Homes & Family Services each day cares for 550 abused and neglected children and adolescent offenders on probation from around California and is the one of the largest private center of its type in the region. It operates a residential program for 99 teenage boys on its main campus in Highland Park, as well as a private high school, group and transitional homes, foster care and adoption agency and multifaceted mental health programs for community youth and adults. The agency is accredited by the Council on Accreditation for Children and Family Services. http://www.oyhfs.org/. About ECLIPSE ECLIPSE, a division of Fujitsu Ten Ltd., designs and manufactures precision audio, visual and navigation products with legendary sound quality and performance. As one of the world's leading manufacturers in the aftermarket industry, ECLIPSE enjoys brand-name recognition among serious audiophiles, for outstanding functionality and innovative technology. ECLIPSE's innovative AVN product line continues to receive numerous industry and consumer media accolades as one of the best in-dash audio, visual and navigation units available today. ECLIPSE sells products through specialty retail partners and nationally through Crutchfield, Circuit City Stores and CarDomain. http://www.eclipse-web.com/. About Santa Monica Subaru Santa Monica Subaru is located just 13 blocks from the ocean on Santa Monica Blvd., and is proud to offer Symmetrical All-Wheel Drive on all Subaru models. Subaru is synonymous with safety, reliability and performance. It's what makes a Subaru, a Subaru. In 2002, Subaru changed the face of the performance market with the introduction of the original WRX, a car that could deliver turbocharged, rally-bred performance in any driving condition. The all-new 2008 Subaru Impreza WRX follows that lead with an all-new breed of AWD performance car. Larger than its predecessor, the 2008 Subaru Impreza WRX now rides on a 3.7 inch longer wheelbase (103.1 inches) that improves ride, interior space and utility. Also new for 2008, is the availability of Vehicle Dynamics Control (VDC). The Legend is Reborn. http://www.santamonica-ca.subaru.com/en_US/. About 97.1 FREE-FM The Adam Carolla Show with Danny Bonaduce and Teresa Strasser wake up Southern California every weekday morning from 5am to 10am, Frosty Heidi and Frank get listeners thru the workday from 10 am to 3pm, and Tom Leykis sits shotgun on the drive home from 3pm to 8pm. Conway and Whitman provide an alternative to primetime TV from 8pm to 11pm, John and Jeff entertain the 3rd Shifters from 11pm to 3am and from 3am to 5am we broadcast the very best of Tom Leykis. http://www.971freefm.com/.
First Call Analyst:
FCMN Contact:
Source: ECLIPSE
CONTACT: Lisa Townsend, ltownsend@ppmgcorp.com, or Matt Gold,
mgold@ppmgcorp.com, both of The Pollack PR Marketing Group, +1-310-556-4443,
for ECLIPSE Web site: http://www.eclipse-web.com/
http://www.oyhfs.org/
http://www.971freefm.com/ NOTE TO EDITORS: For more information on the charity vehicle auction, please contact Lisa Townsend at ltownsend@ppmgcorp.com or (310) 556-4443. -------
Profile: automotive-news
posted by automotive-news # 6:01 PM
Divide The Ride Launches Free Carpool Scheduling Website For Parents
Divide The Ride Launches Free Carpool Scheduling Website For Parents .New Carpooling Website Helps Families Get Organized Safely and Securely. ROCKY HILL, Conn., Oct. 17 /PRNewswire/ -- For millions of American parents who carpool their children to and from school and other activities, creating carpool schedules can be a daunting task. Trying to coordinate and keep track of everyone's driving availability, pick-up times and last minute schedule changes can be a logistical nightmare. These real life issues are the motivation behind Divide The Ride (www.dividetheride.com), a newly launched carpooling website designed to help busy parents by creating carpool calendars based on their schedules and driving availability. Divide The Ride utilizes web based technology and is remarkably fast, easy, and free of charge to use. Most importantly, Divide The Ride is safe and secure. Getting started is simple. Parents choose families they know to join their carpool. Once carpool members are onboard, all participants enter their driving availability and Divide The Ride creates a carpool schedule for them -- all in a few moments. The carpool schedule is emailed to everyone in the group along with text messages and email reminders. Divide The Ride eliminates the time, effort and often confusion that can go along with traditional carpool scheduling. "Divide The Ride provides parents with a viable tool that enables them to quickly and easily create carpool schedules in a safe and secure manner," said Bryn Tindall, founder of Divide The Ride. "Divide The Ride is a wonderful resource for parents who are looking for a simple and uncomplicated way to organize their life while gaining some valuable, much needed time back for themselves." For interviews or to schedule a demonstration, contact Debbie Koke at (914) 536-7557 or Debbie@dividetheride.com. About Divide The Ride Divide The Ride provides parents with a free, secure and easy to use method of creating carpools with families they know and trust. Using web-based technology, Divide The Ride helps busy parents by creating on-line carpool calendars based on parents' schedules and driving availability. What makes Divide The Ride unique is its ability to create a schedule of driving assignments based upon each parent's individual needs. The carpool calendar is then emailed to everyone in the group along with text messages and email reminders. Divide The Ride is a free service and all information is safe and secure. For more information, visit www.dividetheride.com.
First Call Analyst:
FCMN Contact:
Source: Divide The Ride
CONTACT: Debbie Koke of Divide The Ride, +1-914-536-7557,
debbie@dividetheride.com Web site: http://www.dividetheride.com/
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Profile: automotive-news
posted by automotive-news # 5:34 PM
Hybrid Cars to Drive From New York to Paris in 100th Anniversary Great Race
Hybrid Cars to Drive From New York to Paris in 100th Anniversary Great Race NEW YORK, Oct. 17 /PRNewswire/ -- When renewable-fuel powered cars and vintage automobiles begin the 100th anniversary re-run of the famous 1908 New York to Paris "Great Race" next year, they will be joined by a group of car enthusiasts with a unique mission: promote hybrid cars by driving around the world on the least amount of fuel possible. Ten teams driving hybrid electric cars will join the Innovation Class of next summer's Great Race from New York to Paris and attempt to complete the almost 22,000 mile (35,000 km) course by driving as efficiently as possible. 'Hypermilers', as they are known, push the limits of fuel efficiency and achieve unheard of miles-per-gallon readings of as high has 100 mpg. This is the first in a series of MPG Challenges, created in partnership with Hybridfest, Inc., organizers of the nation's largest hybrid car festival. Bill Ewing, chief executive of the firm promoting the event, said he is emphasizing the Great Race to promote major improvements in fuel economy not only through technology, but also by improving personal driving habits. The Great Race celebrates the 100th anniversary of one of the most remarkable automotive events of the 20th century, an automobile race nearly around the world, from New York to Paris in 1908. In a repeat of that milestone event, the Great Race will travel across North America, Asia and Europe in 65 days, this time featuring classic cars, renewable fuel powered cars and now hybrid cars. "Clearly the world has a big fuel problem," said Bill Ewing, chief executive officer of Great Race Sports, Inc., organizer of the event. "Dealing with global warming issues requires conservation as well as alternative fuels. The MPG Challenge brings attention to the importance of improving fuel economy by squeezing the most out of hybrids in a way that people relate to." Hybridfest is a non-profit organization that promotes awareness and understanding of hybrid vehicles - cars that use two or more distinct power sources, often electric motors and a gasoline engine to propel the vehicle and achieve above average fuel economy. The organization, run entirely by volunteers, organizes an annual event, "A Hybrid Electric Car Show and More," in Madison, Wis. "We are very excited about our involvement in creating the MPG Challenge," said Eric Powers, president of Hybridfest. "Some of the best hypermilers in the world have already expressed interest in participating and showing the world how to do something as mind boggling as driving around the world with as little fuel as possible." One of the world's leading 'hypermilers,' Wayne Gerdes, has already agreed to participate. Gerdes recently drove a Toyota Prius more than 1,200 miles on a tank of gasoline. The MPG category will be a part of the Innovation Class, one of two competitive categories in The Great Race 2008: New York to Paris. Classic vehicles that are at least 25 years old are participating in the Schuster Class, named for the winning drive in the 1908 Greatest Auto Race. The commemorative event will start May 30 in New York City and will finish in Paris, France on August 2, 2008. Following the start in New York City, The Great Race will travel across three continents and 13 countries, reaching more than a billion people. Teams participating in the MPG Challenge will attempt to achieve the best fuel economy while driving a predetermined course at assigned speeds. Commonly called a rally or regularity-driving event, the Great Race simulates real-world driving conditions that create results relevant to today's drivers and car owners. The 2008 Great Race commemorates an event that began on Feb. 12, 1908, when six automobiles left New York City's Times Square to the cheers of a crowd of 250,000 in what was described by its newspaper sponsors as "the toughest race ever devised." Despite the daunting challenge of traveling poor roads in harsh weather, teams from three countries persevered in the race across North America, Asia and Europe, finishing in Paris more than five months later (two in July, one in September). It was a sensational adventure told in breathless daily newspaper dispatches and later in books and films. The event was spoofed in the 1960s Tony Curtis-Jack Lemmon movie, "The Great Race." GREAT RACE SPORTS, INC. For 25 years, Great Race Sports, Inc., the race organizer, and its predecessors have delivered free family entertainment and community events in more than 900 cities reaching more than 200 million people in North America. Its participants have logged more than 9 million competitive miles and been awarded $6 million in prize money, making Great Race the richest and longest- running motorsports competition for classic cars. Great Race Sports is focused on bringing exciting vintage automotive events to consumers internationally. The company includes a number of prominent business executives including Jack Roush, one of NASCAR's leading team owners, and Corky Coker, chief executive of Coker Tire Co. Coker and co-driver Greg Cunningham, a former Great Race Grand Champion, have entered the 1910 Nyberg Indy race car in Great Race 2008. ABOUT HYBRIDFEST, INC. Hybridfest, Inc. is a non-profit organization run entirely by volunteers that organizes the annual event, "Hybridfest - A Hybrid Electric Car Show And More" in Madison, Wisconsin. Hybridfest promotes awareness and understanding of hybrid electric vehicles as well as other fuel-efficient transportation solutions and their environmental impact. CONTACTS:
Mike Ewing (949) 300-2634
mike@greatrace.com
Larry Gustin (248) 393-8239 / (248) 891-4457
lrgustin1@aol.com First Call Analyst:
FCMN Contact:
Source: Hybridfest, Inc.
CONTACT: Mike Ewing, +1-949-300-2634, mike@greatrace.com, or Larry
Gustin, +1-248-393-8239, +1-248-891-4457, lrgustin1@aol.com, for Hybridfest,
Inc. Web site: http://www.hybridfest.com/
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Profile: automotive-news
posted by automotive-news # 5:10 PM
COM DEV to Demonstrate Advanced Space-Based AIS Capability
COM DEV to Demonstrate Advanced Space-Based AIS Capability CAMBRIDGE, Ontario, October 17/PRNewswire-FirstCall/ -- - Canadian Military Signs Contract to Evaluate Suitability for Northern
Surveillance COM DEV International Ltd. (TSX: CDV), a leading manufacturer of space
hardware subsystems, today announced that the Company has secured a space
flight opportunity to demonstrate an advanced AIS data detection capability
from space. AIS, or Automatic Identification System, is a VHF broadcast
system required aboard major marine vessels to locate and identify ships at
sea. COM DEV has developed satellite payload technology to solve the
traditional challenges associated with space-based collection of AIS data,
and is committed to commercializing it following a series of planned tests. "Space-based collection of AIS data offers tremendous cost and
performance advantages over existing methods of monitoring marine traffic,"
said John Keating, CEO of COM DEV. "After more than two years of work we have
developed a very promising solution that is ready to be validated under real
world conditions. The potential market for this technology is significant,
and we believe we are well positioned to become world leaders." The AIS data transmitted by over 68,000 ships worldwide is now collected
primarily from other ships and land-based receivers with a limited range of
approximately 50 nautical miles. A reliable satellite-based collection system
would eliminate the 50-mile limitation as well as the need to build large
numbers of ground stations along the world's coastlines. Existing AIS
transmissions can be received from space, but the primary technical barrier
to a space-based system has been "de-colliding" the cacophony of signals
received simultaneously from hundreds or even thousands of vessels in a
satellite field of view. COM DEV has developed an advanced, proprietary de-collision process
(patent pending) that is capable of separating the multitude of AIS signals
into meaningful information. The satellite payloads, which would fly in
low-earth orbit, would make immediate use of over US $300 million of AIS
equipment already installed by the global shipping industry since mandated in
2004 by the International Maritime Organization. The payloads would include
an onboard encryption system to maintain data security. COM DEV is conducting a number of tests to validate its AIS technology,
beginning with an aircraft trial in November 2007. The next stage will
involve a prototype test in orbit aboard a nanosatellite currently under
construction at the University of Toronto's Institute for Aerospace Studies
Space Flight Laboratory (UTIAS/SFL) targeted for launch in the second quarter
of calendar 2008. The final test will utilize a dedicated microsatellite
capable of demonstrating the full commercial viability of the technology. The Canadian Department of National Defence (DND), Project Polar Epsilon,
has signed a small contract with COM DEV to obtain data which it will use to
evaluate the results of the trials to assess the suitability of the advanced
AIS system for operational requirements. Polar Epsilon is a DND capital
project to exploit space-based capabilities in support of Canadian Arctic and
marine surveillance. DND is especially interested in the potential for
space-based AIS technology to assist with its objective of monitoring
shipping traffic in the Canadian Arctic. Maritime and coastal countries around the globe will have the opportunity
to evaluate the system capability as well, and several international agencies
have already expressed an interest in observing the trial results. COM DEV anticipates that there is a market among various satellite
service providers for over 40 AIS payloads that could be in orbit by 2015.
The processed AIS data from these service providers would be of interest to
national governments, port authorities, coast guards, search and rescue
organizations, shipping companies, and insurance companies, among others. For additional information about AIS, please see the "Backgrounder"
attached to this press release. About COM DEV COM DEV International Ltd. (http://www.comdevintl.com) is a leading
global designer and manufacturer of space hardware subsystems. With
facilities in Canada, the United Kingdom and the United States, COM DEV
manufactures advanced products and subsystems that are sold to major
satellite prime contractors for use in communications, space science, remote
sensing and military satellites. COM DEV and COM DEV USA are registered trademarks of COM DEV
International Ltd. This news release may contain certain forward-looking
statements that involve risks and uncertainties. Actual results may differ
materially from results indicated in any forward-looking statements. The
Company cautions that, among other things, in view of the rapid changes in
communications markets and technologies, and other risks including the cost
and market acceptance of the Company's new products, the level of individual
customer procurements and competitive product offerings and pricing, and
general economic circumstances, the Company's business prospects may be
materially different from forward-looking statements made by the Company. Background Information: Automatic Identification System What is AIS? Automatic Identification System (AIS) technology relies upon global
navigational positioning systems, shipboard sensors, and digital VHF radio
communication equipment operating according to standardized digital
communication protocols that permit the voiceless exchange of navigation
information between vessels and shore-side vessel traffic centers. The
information is continually updated in near real-time and received by all
AIS-equipped ships and shore stations in its vicinity. (Source: http://www.navcen.uscg.gov/enav/ais/AISFAQ.htm) Ships equipped with AIS transponders automatically broadcast basic
information every 2 to 10 seconds about their identity, position, course,
speed, and navigational status. How is AIS data used? AIS data helps passing ships avoid collisions, particularly in situations
where they are unable to visually identify one another. AIS data is currently
used by port authorities, coast guards, national governments and others who
have an interest in identifying and locating vessels that enter their
territory. The information can be used to support maritime operations, search
and rescue, and environmental protection as well as security applications. What ships are required to have AIS onboard? The International Maritime Organization (IMO) requires AIS equipment to
be installed, generally, on the following vessels: commercial vessels of 65
feet or more in length; tankers; passenger vessels exceeding 150 gross tons
or certificated to carry more than 150 passengers; and vessels exceeding 300
gross tons. Since the IMO requirements went into effect on December 31, 2004,
it is estimated that more than 68,000 vessels worldwide have installed AIS
equipment at a cost of CAD$1,500 to CAD$5,000 per vessel (not including
installation costs). What are the advantages of detecting AIS data from space? The curvature of the Earth limits the range of surface-based AIS
receivers to approximately 50 nautical miles. An orbiting satellite would be
able to detect AIS signals from a large area at any given time. A modest
constellation of such satellites could effectively cover all navigable waters
on the planet, providing real-time data on the world's maritime activity that
is currently unavailable from any source. An effective space-based AIS detection system would reduce the need for
ground-based receivers, while utilizing the maritime community's existing
investment in AIS technology. What are the barriers to space-based AIS? Today's satellites have no difficulty receiving AIS signals from space;
the challenge lies in distinguishing between the multitude of signals that
would be received at any given moment. Without an advanced method of
filtering and isolating the signals, the satellites would be incapable of
returning usable information. How does COM DEV plan to overcome these barriers? COM DEV International Ltd. has developed a unique de-collision process
(patent pending) whose advanced algorithms are capable of separating the
multitude of AIS signals into meaningful information. The Company is planning
a series of tests that are expected to validate the satellite payload
technology and lead to its full scale commercialization. What are nanosatellites and microsatellites? A nanosatellite is a very small, low power satellite (total mass on the
order of 10 kg) that can be inexpensively built and launched into orbit to
test and demonstrate new technology for short missions (approximately one
year). Microsatellites are larger satellites (mass of approximately 100 kg)
that support higher power levels and longer mission durations (up to five
years). Microsatellites can be used to provide commercial-quality services
from low Earth orbit (i.e. orbital altitudes of 500 to 1000 km above Earth). What is the potential market for space-based AIS data? Data generated by a space-based AIS system would likely be of interest to
the following organizations: <<
- National governments, militaries, coastal authorities and surveillance
agencies
- Non-governmental organizations such as the International Maritime
Organization and the European Maritime Safety Agency - Search and rescue organizations - Shipping companies and their insurers - Port and maritime operations organizations - Flag states
>>
To learn more More information about AIS is available online at the following address:
http://www.navcen.uscg.gov/enav/ais Source: COM DEV International Ltd For further information: Gary Calhoun, Chief Financial Officer, Tel: +1-519-622-2300 ext. 2826, Fax: +1-519-622-2158, gary.calhoun@comdev.ca; Jeff Codispodi, The Equicom Group, Tel: +1-416-815-0700 ext. 261, Fax: +1-416-815-0080, jcodispodi@equicomgroup.com
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Profile: automotive-news
posted by automotive-news # 5:01 PM
South Florida Auto Show Opens November 9
South Florida Auto Show Opens November 9 MIAMI, Oct. 17 /PRNewswire/ -- When the annual South Florida International Auto Show comes to town November 9, some of the most exciting new models in years will again debut at one of America's most important automotive displays. Fuel economy and function are the buzzwords for the 2008 model year as buyers look at the fastest growing segment in the showrooms: car-based stylish, versatile but practical SUVs and crossovers. Close behind are new small cars that not only are tiny but tony, with a flare that attracts younger drivers. Many stalwart family sedans now sport high tech entertainment in the cabin and green-car technology under the hood. From November 9-18, the Miami Beach Convention Center will shimmer with nearly 1,000 shiny new models from 40 manufacturers. Other displays and rooms will feature accessories, exotic cars, classics from years gone by and modern motorcycles for that wind-in-hair Florida weekend. Futuristic concepts and prototypes always draw a crowd, and this year's group includes the Ford Flex, a modern mix of SUV, minivan and crossover. "There's no place like South Florida to kick-off the auto show season," said Bill Sandidge, show chairman. "We've got so many new models under one roof, visitors can take their time checking out each one, and the allure of South Beach is just across the street." New models for 2008 New models include the Infiniti EX35 and Nissan Rogue SUVs, the Volkswagen Tiguan crossover, the Saturn Astra hatchback, Scion's xD and Pontiac's G8 performance sedan. Ford and Mercury have refreshed some popular models and rebranded them with familiar Taurus and Sable names. Chrysler Corporation's enduring minivans are redesigned for 2008, as are the Chevrolet Malibu and Honda Accord. Even the combustion chamber is more consumer-friendly. Drivers will find more choices that include hybrid, flex-fuel and clean-diesel. This year's green machines include new hybrids from GM: the Cadillac Escalade and Chevrolet Tahoe. Three new diesels debut: the Mercedes-Benz (the GL320 CDI and ML320 CDI) and a Jeep Grand Cherokee CRD 4x4. Camp Jeep Returns Speaking of Jeep, the off-road playground called Camp Jeep returns this year. Just outside Hall D near the show's entrance, visitors can sample the rugged "Trail Rated" experience with rides in new Jeeps up and down hills, over logs and boulders, and through a water trough. Show Car for this year's event is the 2008 Chevrolet Corvette Z06. The 505-horsepower American super car has won over enthusiasts, journalists and racers around the world for its balance of racetrack-bred performance, daily- driving civility and value. Zero to sixty? Four point three seconds. NBC 6, the auto show's flagship station, will air a live 30-minute television special during the auto show's opening day on Friday, November 9 beginning at 7:30. It will feature many of the debuts and introductions from press day events, interviews and special features that capture the excitement of this major event. Host will be NBC 6 anchor and antique car collector Bob Mayer. Tickets to this year's show are $10 for adults and $3 for children 6-12. Discount tickets to the show are available at participating new car and truck dealerships and McDonald's restaurants in Miami-Dade and Broward counties. The hours for the 37th annual South Florida International Auto Show are as follows: Friday, November 9th 5 p.m. - midnight; Saturday, November 10th 11 a.m. - midnight; Sunday, November 11th 11 a.m. - 11 p.m.; Monday, November 12th 11 a.m. - 11 p.m.; Tuesday, November 13th, Wednesday, November 14th and Thursday, November 15th 2 p.m. - 11 p.m.; Friday, November 16th 2 p.m. - midnight; Saturday, November 17th 11 a.m. - midnight; Sunday, November 18th 11 a.m. - 9 p.m. The South Florida Auto-Truck Dealers Association, which comprises more than 220 dealerships in Miami-Dade, Broward, Palm Beach and Monroe counties, has been the official sponsor of the South Florida International Auto Show since 1971. First Call Analyst:
FCMN Contact:
Source: South Florida International Auto Show
CONTACT: Cristina Rivera of Kiskinis Communications, Inc.,
+1-305-447-1224
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Profile: automotive-news
posted by automotive-news # 4:59 PM
Michigan Senate Committee Votes in Favor of 'Opt-Out' Option for State's Helmet Law; AAA Says Deaths and Injuries Will Increase
Michigan Senate Committee Votes in Favor of 'Opt-Out' Option for State's Helmet Law; AAA Says Deaths and Injuries Will Increase DEARBORN, Mich., Oct. 17 /PRNewswire-USNewswire/ -- The State Senate Committee passed legislation today (October 17) that would enable motorcyclists to ride without their helmets on Michigan roads. In their latest bid to rid riders of their helmets, special interest groups in Lansing have proposed an 'opt-out' solution. For a $100 fee, motorcyclists can buy their way out of a helmet. The bill is expected to be voted on by the State Senate in the near future. The bill was passed by the State House on Oct. 11. American Bikers Aiming Toward Education (ABATE) conceived the bill, which would require riders to be 21 years or older, licensed to operate a motorcycle for at least two years, complete a motorcycle safety course and have insurance or security of $20,000 for first-party medical benefits in the event of an accident. According to Jack Peet, manager of community safety services for AAA Michigan, the legislation would result in 22 additional motorcycle fatalities each year, along with 132 more incapacitating injuries, 610 other injuries and $140 million in added economic costs to Michigan citizens. "If the mandatory helmet requirement is repealed or waived through a fee, there will be a significant increase in severe head injuries and deaths," said Peet. "Studies show that in a crash, unhelmeted motorcyclists are three times more likely than helmeted cyclists to suffer traumatic brain injuries." Motorcycle crashes account for a disproportionate share of money paid out of the Michigan Catastrophic Claims Association (MCCA), a fund which is supported by a surcharge on every auto insurance policy in this state. Although motorcyclists represent 1.7 percent of the assessments paid into the MCCA, they account for 6.7 percent of all claims reported. In addition to increased medical costs passed on to taxpayers, Motorcycle deaths and injuries are on the rise after the repeal of mandatory helmet laws in Florida, Kentucky and Louisiana. The National Highway Traffic Safety Administration found that in the three years after Florida's repeal of its mandatory helmet law in 2000, 933 motorcyclists were killed, an 81 percent increase. Another study found that fatalities grew by more than 50 percent in Kentucky and 100 percent in Louisiana after those states struck down mandatory helmet laws. Because of increased injuries and deaths, Louisiana legislators reinstated the motorcycle helmet requirement. In Florida after the helmet law was repealed, the cost of hospital care for motorcycle injuries grew from $21 million to $44 million in the 30 months after the law changed. First Call Analyst:
FCMN Contact:
Source: AAA Michigan
CONTACT: Jim Rink, +1-313-336-1513, or Nancy Cain, +1-313-336-1514, both
of AAA Michigan Web site: http://www.aaa.com/
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Profile: automotive-news
posted by automotive-news # 4:39 PM
Visteon to Release Third-Quarter Financial Results Oct. 31
Visteon to Release Third-Quarter Financial Results Oct. 31 VAN BUREN TOWNSHIP, Mich., Oct. 17, 2007 /PRNewswire-FirstCall/ -- Visteon Corporation (NYSE:VC), one of the world's leading suppliers of automotive components and integrated systems, will release its third-quarter 2007 financial results at 7 a.m. EDT on Wednesday, Oct. 31, 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. (Logo: http://www.newscom.com/cgi-bin/prnh/20001201/DEF008LOGO ) For whom: Security analysts, fund managers and media representatives What: Visteon's third-quarter 2007 financial results conference call When: 9 a.m. EDT Wednesday, Oct. 31, 2007 Dial-in numbers: U.S./Canada: 888-452-7086; International: 706-643-3752
(Call in approximately 10 minutes prior to the start of the conference.) Those in the United States interested in hearing a replay of the conference should call 800-642-1687; international callers should dial 706- 645-9291. The pass code to access the replay is 20283100 (domestic and international). The replay will be available for one week. Visteon will provide a broadcast of the quarterly meeting for the general public via a live audio webcast. The conference call, along with the financial results release, presentation material and other supplemental information, can be accessed through Visteon's Web site at www.visteon.com. Visteon Corporation is a leading global automotive supplier that designs, engineers and manufactures innovative climate, interior, electronic and lighting products for vehicle manufacturers, and also provides a range of products and services to aftermarket customers. With corporate offices in Van Buren Township, Mich. (U.S.); Shanghai, China; and Kerpen, Germany; the company has facilities in 26 countries and employs approximately 43,000 people. First Call Analyst:
FCMN Contact: Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20001201/DEF008LOGO
PRN Photo Desk, photodesk@prnewswire.com
Source: Visteon Corporation
CONTACT: Media, Jim Fisher, +1-734-710-5557, jfishe89@visteon.com, or
Investors, Derek Fiebig, +1-734-710-5800, dfiebig@visteon.com, both of Visteon
Corporation Web site: http://www.visteon.com/ NOTE TO EDITORS: Visteon news releases, photographs and product specification details are available at www.visteon.com -------
Profile: automotive-news
posted by automotive-news # 4:32 PM
Drew Industries Presents Webcast of Third Quarter Conference Call on November 1
Drew Industries Presents Webcast of Third Quarter Conference Call on November 1 WHITE PLAINS, N.Y., Oct. 17 /PRNewswire-FirstCall/ -- Drew Industries Incorporated (NYSE:DW), a White Plains, NY-based manufacturer of components for the recreational vehicle and manufactured housing industries, will release its third quarter 2007 financial results after the market closes on Wednesday, October 31, 2007. Drew Industries also will host a conference call on Thursday, November 1 at 11 a.m. ET to discuss its results and other business trends. Participation in the question-and-answer session of the call will be limited to institutional investors and analysts. Individual investors and retail brokers are invited to listen via a live webcast of the call on Drew Industries' web site at www.drewindustries.com. Drew Industries will archive the webcast on its website for two weeks after the call. Participating in the conference call will be:
Leigh Abrams, President and CEO, Drew Industries
Fred Zinn, Executive VP and CFO, Drew Industries
David Webster, President, CEO and Chairman, Kinro, Inc.
Jason Lippert, President, CEO and Chairman, Lippert Components, Inc. The webcast is also being distributed over CCBN's Investor Distribution Network to both institutional and individual investors. The call is available at www.companyboardroom.com or by visiting any of the investor sites in CCBN's Individual Investor Network. Institutional investors can access the call via the password-protected event management site, StreetEvents (www.streetevents.com). About Drew Drew, through its wholly owned subsidiaries, Kinro and Lippert Components, supplies a broad array of components for RVs and manufactured homes. Drew's products include vinyl and aluminum windows and screens, doors, chassis, chassis parts, RV slide-out mechanisms and power units, leveling devices, bath and shower units, axles, bed lifts, steps, suspension systems and electric stabilizer jacks, as well as trailers for hauling equipment, boats, personal watercrafts and snowmobiles, and chassis and windows for modular homes and offices. From 36 factories located throughout the United States, Drew serves most major national manufacturers of RVs and manufactured homes in an efficient and cost-effective manner. Additional information about Drew and its products can be found at www.drewindustries.com.
First Call Analyst:
FCMN Contact:
Web site: http://www.drewindustries.com
http://www.companyboardroom.com http://www.streetevents.com
Source: Drew Industries Incorporated
CONTACT: Fred Zinn of Drew Industries, +1-914-428-9098; or Ryan McGrath
or Jeff Lambert, both of Lambert, Edwards & Associates for Drew Industries,
+1-616-233-0500, rmcgrath@lambert-edwards.com
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Profile: automotive-news
posted by automotive-news # 4:08 PM
AutoNation to Acquire BMW Dealership in Arizona
AutoNation to Acquire BMW Dealership in Arizona FORT LAUDERDALE, Fla., Oct. 17 /PRNewswire-FirstCall/ -- AutoNation, Inc. (NYSE:AN), America's largest retailer of new and used automobiles, today announced that it has signed an agreement to acquire Don Mackey BMW in Tucson, Arizona from owners Don Mackey and Pete Cunningham. The store will be renamed BMW Tucson after the anticipated completion of the transaction in January 2008. BMW Tucson will become the 23rd new vehicle franchise owned by AutoNation in Arizona and AutoNation's 13th BMW dealership nationwide. Terms of the all-cash transaction, which is subject to customary conditions and approvals, were not disclosed. AutoNation estimates that revenue generated by the dealership in 2007 will total approximately $45 million. "Don Mackey BMW will be an outstanding addition to our brand mix in Arizona," said Michael E. Maroone, AutoNation's president and chief operating officer. "BMW is a great franchise, that will continue to have strong growth and an expanding product line up. This fits perfectly in our portfolio since Arizona is the fastest-growing state in the nation, and Tucson is the state's second largest market. This acquisition puts us in position to better serve the widest possible customer base. Add in the fact, that the luxury vehicle market is the fastest growing segment for auto retailers, this transaction also strengthens our ability to deliver great opportunities to our associates and great value to our shareholders." Neither of the current owners will retain a position with the dealership following the closing. The store is located at 835 West Auto Mall Drive in Tucson, AZ,. AutoNation intends to relocate the dealership to a new, state-of- the-art facility at a nearby location within the next 24 months, a move that is intended to double the size of the existing store. The current facility will be used to accommodate the expansion of Dobbs Honda, AutoNation's other franchise in the Tucson market. All current employees are expected to continue in their current positions. Currently, AutoNation's franchises in Arizona offer new vehicles from Buick, Chevrolet, Chrysler, Dodge, Ford, GMC, Honda, Hyundai, Isuzu, Jeep, Nissan, Pontiac, Scion, Subaru and Toyota, as well as used vehicles, parts and services, and finance and insurance products. About AutoNation, Inc. AutoNation, Inc., headquartered in Fort Lauderdale, Fla., is America's largest automotive retailer and a component of the Standard and Poor's 500 Index. AutoNation has approximately 25,000 full-time employees and owns and operates 325 new vehicle franchises in 16 states. For additional information, please visit http://corp.autonation.com/ or http://www.autonation.com/, where more than 80,000 vehicles are available for sale. FORWARD-LOOKING STATEMENTS Certain statements and information included in this release constitute "forward-looking statements" within the meaning of the Federal Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied in such forward-looking statements. Additional discussion of factors that could cause actual results to differ materially from management's projections, estimates and expectations is contained in the Company's SEC filings. The Company undertakes no duty to update its forward- looking statements, including its earnings outlook. First Call Analyst:
FCMN Contact: polaskib@autonation.com Photo: http://www.newscom.com/cgi-bin/prnh/20001017/AUTONATIONLOGO
AP Archive: http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com
Source: AutoNation, Inc.
CONTACT: Marc Cannon, AutoNation, Inc., +1-954-769-7208 Web site: http://corp.autonation.com/
http://www.autonation.com/ Company News On-Call: http://www.prnewswire.com/comp/750525.html
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Profile: automotive-news
posted by automotive-news # 4:03 PM
Valeo Third Quarter 2007 Results
Valeo Third Quarter 2007 Results PARIS, October 17/PRNewswire/ -- Following today's meeting of its Board of Directors, Valeo
presented its consolidated accounts for the third quarter 2007.
in millions of euros 3rd quarter 9 months
(unaudited)
2007 2006(i) change 2007 2006(i) change
Total operating revenues 2,245 2,153 +4.3% 7,251 7,174 +1.1%
Gross margin 340 322 +5.6% 1,111 1,112 -0.1%
% sales 15.4% 15.2% +0.2 pt 15.5% 15.7% -0.2 pt
Operating income 64 50 +28.0% 231 220 +5.0%
% total revenues 2.9% 2.3% +0.6pt 3.2% 3.1% +0.1 pt
Net income attributable to (40) 7 ns 31 101 -69.3%
Company shareholders
% total revenues -1.8% 0.3% ns 0.4% 1.4% -1.0 pt
Basic earnings per share 0.16 0.12 +33.3% 1.13 1.58 -28.5%
(in euros)
(i) As required by IFRS norms, this data has been restated, e.g. to take
into account activities in the process of being sold.
2007 third quarter Group results In the third quarter of 2007, Valeo's total operating revenues
stood at 2,245 million euros, up by 4.3% compared to the third quarter of
2006. The impact of exchange rates and changes in the consolidated reporting
entity was -0.9% and +0.3% respectively. On a like-for-like basis, total
operating revenues increased by 4.9%. The gross margin for the quarter increased by 5.6% to 340 million euros.
It represented 15.4% of sales, up by 0.2 points compared to the third quarter
of 2006, after registering a drop of 0.3 points in the first half of the
year. The net impact of the rise in raw material prices is estimated at -0.5
points. Operating income amounted to 64 million euros, or 2.9% of total operating
revenues, compared to 50 million euros and 2.3% of total revenues for the
same period in 2006. This figure takes into account "other net expenses" of 9
million euros, compared to 15 million euros in 2006. Excluding the negative impact of extra costs related to raw materials,
the margin rate was up by 0.8 point. Net income attributable to Company shareholders was -40
million euros, including a loss of 52 million euros related to non strategic
activities. Excluding these activities, net income stood at 12 million euros
compared to 9 million euros in the third quarter of 2006. At end September, excluding divested assets, the Group's net income
increased by 5% compared to 2006. Valeo's net debt on 30 September 2007 amounted to 932 million
euros (taking into account the debt of the wiring harness activity of 60
million euros) compared to 968 million euros at the beginning of the year.
The debt-to-equity ratio was 53%, compared to 55% at 31 December 2006. Highlights of the quarter On 24 July, Valeo announced the creation of a new majority
joint venture in India with N.K Minda Group for the production of alternators
and starter motors. This is the Group's fourth industrial site in the Indian
market. On 27 July, the Group acquired Connaught Electronics Ltd.
(CEL), an Irish producer of vehicle electronics. This acquisition reinforces
Valeo's Driving Assistance Domain through the extension of its line of
camera-based vision solutions for low-speed maneuvering. On 16 October, Valeo signed an agreement with Leoni for the
sale of its wiring harness activity. This divestiture will lead to a
reduction in the Group net debt of around 200 million euros. The Group's many innovations, presented at the Frankfurt Auto
Show, have been experiencing significant commercial success. New contracts
have been signed for the Park4UTM automatic parking system, the blind spot
detection system and the StARSTM microhybrid system. Outlook for the fourth quarter Valeo intends to continue to progress in an environment in
which global automotive production will be less sustained than in the third
quarter. Valeo is an independent industrial group dedicated to the
design, production and sale of components, integrated systems and modules for
cars and trucks. It is one of the world's leading automotive suppliers. The
Group has 136 production sites, 68 R&D centers, 9 distribution platforms, and
employs 74,800 people in 30 countries.
Source: Valeo Management Services
For further information, please contact: Kate Philipps, Group Communications Director, Tel.: +33-1-40-55-20-65. Rémy Dumoulin, Investor Relations Director, Tel.: +33-1-40-55-29-30
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Profile: automotive-news
posted by automotive-news # 2:38 PM
Sportsbooks: Not so racy DC
Daily Telegraph - Formula One racing drivers are not, on the whole, completely thick. Most of them are multilingual, and all possess the ability to assimilate large amounts of technical information in a very short time. Fans of the sport may suspect a certain driver [continued ]International Herald Tribune - Botsford numbers gastronomy among his passions, along with the Boston Red Sox — he tries to catch every game on satellite TV — and Formula One racing, the subject of several of his books. (He is currently writing a collective biography of the non [continued ]PRWeb - "After being picked-up by over 1,190 PRWeb subscribers, and ending up on E*TRADE radio as a result, we're more than happy with the value proposition you folks have put together. Where else can you put out a measly $200 and be seen by such high [continued ]Miami Herald - Spent nearly $2 million to contest findings of a French lab; has one appeal left. McLaren Formula One racing team: Caught in possession of 780-page dossier of rival Ferrari's technical information. Fined $100 million by International Automobile [continued ]Sky.com - Formula One racing legend Sir Jackie Stewart, Rangers and Scotland football captain Barry Ferguson and IndyCar champion Dario Franchitti were among the mourners. Almost 200 people gathered for the private service at Daldowie Crematorium, near Glasgow [continued ]Formula 1 - Colin, we are now at the end of the Spyker's first season in Formula One racing. How would you review the year? Colin Kolles: If you look at the year as a whole, it has not been easy. We have had many challenges and tests, but I think we can be proud [continued ]Formula 1 - Your father drove in Formula One racing for five seasons, what was his reaction to the news? KN: He sounded like he was quite happy! Strangely enough, he made his debut in Formula One in Brazil as well, not on the same track, but it was 20 years ago [continued ]
posted by automotive-news # 2:15 PM
Zag Expands Used Car Platform With Vast.com Partnership
Zag Expands Used Car Platform With Vast.com Partnership Vast.com Brings Leading Vertical Search to Zag's Offering SANTA MONICA, Calif., Oct. 17 /PRNewswire/ -- Zag (http://www.zag.com/), an innovator in automotive retailing, announced today it will partner with Vast.com to create the industry's leading used car search solution. Zag is integrating the Vast.com platform to attract used car shoppers with a better experience and convert them to ready buyers for Zag premium dealers. For the first time, Zag's technology and service platform make it possible for consumers to complete more of the auto-buying transaction online -- everything from selection, pricing, searching inventory and accessorizing to financing and insurance. Vast.com extends Zag's used car offering as part of Zag's white label platform for affinity partners. "Zag is committed to creating the best online car buying experience, and Vast.com is a core technology partner for used cars," said Scott Painter, CEO and founder of Zag. Zag works exclusively with trusted brands and affinity groups that have a lasting and relevant automotive relationship with their members. Zag private labels its "best in class" internet research and shopping technology and manages an exclusive nationwide network of dealers that are committed to low, up-front pricing, an expedited delivery and administrative process and exceptional customer service. Zag now concentrates the buying power of over 60M members through its various programs to help participating dealers reduce marketing expenses and streamline the sales process in exchange for delivering the best possible price. As a result, they tap into the loyalty and trust of these committed buyers. "Zag is at the forefront of the revolution occurring in the automotive industry -- having already proven their model for new car sales and marketing," said Kevin Laws, president and CEO of Vast.com. "We are pleased they selected Vast.com to expand their white label platform and enable the same revolution in used cars." About Zag (http://www.zag.com/) Zag is transforming the auto-buying experience with a groundbreaking online platform that extends current online buying capabilities -- and soon will make it possible for consumers to complete the entire auto-buying transaction online. Zag's platform goes beyond research-related websites to give consumers upfront pricing and inventory availability for new and used cars, and the ability to configure a new vehicle and arrange financing online. Over the next year, the company will roll out additional capabilities that will enable a complete, end-to-end online transaction for the first time. Zag works with affinity-based organizations to bring a private label, customized experience to members or customers while automating much of the time-consuming, inefficient processes at the dealership level. Inaugural users include Capital One Auto Finance, the nation's largest online auto lender, which is rolling out Zag's platform for its Capital One Auto Buying program. Zag is based in Santa Monica, Calif., with offices in Sherman Oaks, Calif., Fullerton, Calif., and Portland, Ore. About Vast.com (http://www.vast.com/) Vast.com is a leading provider of vertical search. With sub-second search times, instant narrowing by characteristic, and robust data analytics to facilitate comparison shopping, a Vast.com-powered website is the best place to start a used car search. The technology is built to support full white-label integrations with partners, allowing all returning user and search traffic to benefit Vast.com's partners. Millions of users a month now make purchasing decisions through Vast.com's partner network. Founded in 2001 and backed by Clearstone Venture Partners and Leapfrog Ventures, Vast.com is headquartered in San Francisco with offices in Belgrade, Serbia. First Call Analyst:
FCMN Contact:
Source: Zag
CONTACT: Lucy Caprro, lcaprro@jmprpublicrelations.com, or Jill Sifflard,
both for Zag, +1-818-992-4353 Web site: http://www.zag.com/
http://www.vast.com/
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Profile: automotive-news
posted by automotive-news # 1:24 PM
Manufacturers and Independent Repairers Applaud Congressman Westmoreland for his Efforts in Support of the Service Information Agreement
Manufacturers and Independent Repairers Applaud Congressman Westmoreland for his Efforts in Support of the Service Information Agreement WASHINGTON, Oct. 17 /PRNewswire-USNewswire/ -- The Alliance of Automobile Manufacturers, the Association of International Automobile Manufacturers (AIAM) and the Automotive Service Association (ASA) today thanked Congressman Lynn Westmoreland (R-GA) and updated him on the status of a landmark, voluntary service information agreement brokered in 2002. Five years ago Congress challenged the auto industry to come up with a voluntary solution to a problem that existed with independent repairer access to automobile service, repair and training information. Congressman Westmoreland has been a leader in opposing the so-called Motor Vehicle Owners "Right to Repair" Act. He recognizes that because service information is being shared by all sectors of the automotive industry, there is no need for legislation. He has worked hard to ensure that businesses are protected from intellectual property theft. Alliance CEO Dave McCurdy stated, "Manufacturers recognize the importance of the independent repair industry and remain committed to ensuring that consumers have the option of having their vehicles serviced by the repairer of their choice. Automakers thank Congressman Westmoreland for his leadership on this issue. He has worked to protect the interests of consumers, repairers and manufacturers." There is no question that as automobiles and auto repair has become more complex it has become increasingly difficult for technicians, independent repairers and dealerships alike to remain abreast of technology for all of the makes and models they traditionally support. Automotive computers monitor and control everything from airbag safety systems and anti-lock brakes to GPS systems, fuel economy and emissions controls. These systems require independent repairers to invest in the tools, training and equipment necessary to properly service theses automobiles. AIAM President and CEO Mike Stanton said, "We believe our customers should be able to seek vehicle repair services wherever reliable and first-rate service is offered. Auto makers work very hard to make high-quality cars and trucks, and their reputations could be jeopardized if customers felt they could not go to the service and repair shop of their choosing." Approximately 75 percent of all post warranty repairs are performed by independent repair facilities. This voluntary agreement ensures the continuing viability of the automotive service industry and eliminates the need for current and future legislation. To help resolve service and repair related issues independent repairers are encouraged to work through the National Automotive Service Task Force (NASTF). NASTF serves as a forum to identify and resolve gaps involving motor vehicle repair information and tools. This national, voluntary solution has proven to be an effective resource for repairers and manufacturers alike, and over the course of the last six years has become a productive forum for dialogue between independent repairers, other industry stakeholders and automakers as well as an effective mechanism to help identify and resolve the few information gaps that remain. ASA President Ron Pyle added, "ASA is proud of the progress made for independent repairers relative to service, training and tool information. The 2002 ASA-Automaker agreement has provided our industry with a model for information that will assure repairers the necessary information for the foreseeable future. This model is indicative of the industry's ability to resolve many important issues in the marketplace without government intervention when the automotive industry works together." The Alliance is a trade association of nine car and light truck manufacturers including BMW Group, Chrysler LLC, Ford Motor Company, General Motors, Mazda, Mitsubishi Motors, Porsche, Toyota and Volkswagen. Association of International Automobile Manufacturers (AIAM) member companies include American Honda Motor Co., American Suzuki Motor Corp., Aston Martin Lagonda of North America, Inc., Ferrari North America, Inc., Hyundai Motor America, Isuzu Motors America, Inc., Kia Motors America, Maserati North America, Inc., Mitsubishi Motors North America, Inc., Nissan North America, Inc., Peugeot Motors of America, Renault, SA, Subaru of America and Toyota Motor North America, Inc. AIAM also represents original equipment suppliers and other automotive-related trade associations. The Automotive Service Association is the largest not-for-profit trade association of its kind dedicated to and governed by independent automotive service and repair professionals. ASA serves an international membership base that includes numerous affiliate, state and chapter groups from both the mechanical and collision repair segments of the automotive service industry. First Call Analyst:
FCMN Contact:
Source: Alliance of Automobile Manufacturers
CONTACT: Charles Territo of the Alliance of Automobile Manufacturers,
+1-202-326-5523; or Kim Custer of the Association of International Automobile
Manufacturers, +1-703-247-2110; or Caroline Holland of the Automotive Service
Association, +1-202-543-1440 Web Site: http://www.autoalliance.org/
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Profile: automotive-news
posted by automotive-news # 1:23 PM
GM'S Bob Lutz To Keynote MPVA 'Salute To Veterans'
GM'S Bob Lutz To Keynote MPVA 'Salute To Veterans' - Metro Area Tuskegee Airmen to be Honored at Michigan's finest Veteran's Day celebration NOVI, Mich., Oct. 17 /PRNewswire/ -- The 2007 Michigan Paralyzed Veterans of America (MPVA) "Salute to Veterans" dinner is set for Friday, November 9, 2007. The Veterans Day celebration includes a tribute to Michigan's "Fallen Heroes"; a keynote presentation by General Motors Vice Chairman and U.S. Marine Corps vet Bob Lutz; and honors presented by MPVA to local members of the famed Tuskegee Airmen. Rich Luterman, FOX-2 TV Chief Meteorologist and U.S. Air Force veteran will serve as Master of Ceremonies. The 4th "Salute to Veterans" at Schoolcraft College's new VisTaTech Center, Haggerty Road, Livonia, starts with a 6 p.m. reception followed at 7 p.m. by the dinner program. This is MPVA's only annual fundraiser and includes a Silent Auction hosted by DC Sports, Novi. The public is invited to purchase tables for 8 ($800) or individual seats ($45), or to underwrite the cost for a veteran who would otherwise be unable to attend. Information is available from MPVA at (248) 476-9000, ext. 06. "We are honored that Mr. Lutz will join us as we share our commitment to Michigan's veterans," said Michael F. Harris, Executive Director, MPVA. "It's truly a special evening for anyone who wants to honor Michigan's veterans from every era and every branch of service." MPVA, a chapter of the national Paralyzed Veterans of America, is a 501 (c) 3 nonprofit organization that was chartered by Congress to be of service to veterans with spinal cord injury or disease. MPVA has served Michigan veterans and other residents for 46 years. In 2006, 2000 Michigan households received $5,000,000 in new or increased VA benefits thanks to free filing assistance from the MPVA. Any veteran is eligible for this free service. First Call Analyst:
FCMN Contact:
Source: Michigan Paralyzed Veterans of America
CONTACT: R. Sue Dodea, MPVA, +1-248-476-9000 x 06
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Profile: automotive-news
posted by automotive-news # 1:01 PM
Oil Prices at Record High: Alliance to Save Energy Calls on Congress to Increase CAFE, Offers Consumers Tips in Anticipation of Higher Gas Prices
Oil Prices at Record High: Alliance to Save Energy Calls on Congress to Increase CAFE, Offers Consumers Tips in Anticipation of Higher Gas Prices WASHINGTON, Oct. 17 /PRNewswire-USNewswire/ -- With oil prices topping $88 a barrel yesterday, and prices at the pump sure to follow, the Alliance to Save Energy is once again calling on Congress to enact, immediately, higher Corporate Average Fuel Economy (CAFE) standards. It will take time for the standards to become effective and provide relief, so every day of delay comes at a cost to our economy, our environment, and our national security, the Alliance said. "Congress must adopt and send to the president the CAFE increases in the Senate energy bill," said Alliance President Kateri Callahan. "As consumers continue to be burdened by increasing gasoline prices, and with cost-effective technology currently available that can dramatically increase vehicle fuel economy, there simply is no excuse for Congress to postpone raising fuel economy standards. "The benefits will go beyond consumers' pocketbooks," Callahan continued. "Energy efficiency in the transportation sector is a key element in helping to curb the polluting emissions that contribute to climate change and in lowering U.S. dependence on imported oil." Callahan noted also that consumers have the power to lower their monthly gasoline costs through easy no-cost and low-cost steps and by choosing hybrid or very fuel-efficient vehicles when purchases are made. To help consumers in the purchase of hybrid or efficient, clean diesel vehicles, the federal government currently offers tax incentives. The Alliance challenges consumers to take measures that will not only keep dollars in their pockets, but also will help to curb greenhouse gas emissions and enhance our national energy security: -- Keep cars in good working order with regular tune-ups and oil
changes; keep tires properly inflated; stick to the speed limit
and avoid aggressive driving; and think about fuel economy when
purchasing a new vehicle. More tips at
www.ase.org/content/news/detail/3713. -- Information in both English and Spanish on valuable federal income
tax credits for purchasers of hybrid-electric or diesel vehicles at
www.ase.org/taxcredits. -- Test your "Energy IQ" and take the 6 Degrees of Energy Efficiency
Challenge at www.sixdegreechallenge.org to learn how your energy use
and energy waste affects your community, the nation, and the planet
-- and how being more energy-efficient contributes to our nation's
economic and energy security.
The Alliance to Save Energy is a coalition of prominent business, government, environmental, and consumer leaders who promote the efficient and clean use of energy worldwide to benefit consumers, the environment, economy, and national security.
First Call Analyst:
FCMN Contact:
http://www.sixdegreechallenge.org Source: Alliance to Save Energy
CONTACT: Ronnie Kweller of the Alliance to Save Energy, +1-202-530-2203,
rkweller@ase.org Web Site: http://www.ase.org/
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Profile: automotive-news
Johnson Controls Announces Fourth Quarter 2007 Earnings Conference Call Webcast
Johnson Controls Announces Fourth Quarter 2007 Earnings Conference Call Webcast MILWAUKEE, Oct. 17 /PRNewswire/ -- Johnson Controls, Inc. (NYSE:JCI) announces the following webcast: What: Johnson Controls Fourth Quarter 2007 Earnings Conference Call When: Tuesday, October 23, 2007, at 11 a.m. Eastern time How: Live over the Internet -- Log on to the Web at http://www.johnsoncontrols.com/investors. Note: A slide presentation will be available that morning for downloading. Replay: If you are unable to participate during the live webcast, the call will be archived at http://www.johnsoncontrols.com/publish/us/en/investors/webcast_archive.html Webcast contact: Jeff Stevens of Johnson Controls, +1-414-524-3886 Investor relations: Glen Ponczak of Johnson Controls, +1-414-524-2375 Johnson Controls (NYSE:JCI) is the global leader that brings ingenuity to the places where people live, work and travel. By integrating technologies, products and services, we create smart environments that redefine the relationships between people and their surroundings. Our team of 140,000 employees creates a more comfortable, safe and sustainable world through our products and services for more than 200 million vehicles, 12 million homes and one million commercial buildings. Our commitment to sustainability drives our environmental stewardship, good corporate citizenship in our workplaces and communities, and the products and services we provide to customers. For additional information, please visit http://www.johnsoncontrols.com/. Johnson Controls (NYSE:JCI) has 136,000 employees in more than 1,000 locations serving customers in 125 countries. Founded in 1885, the company is headquartered in Milwaukee, Wisconsin. For additional information, please visit http://www.johnsoncontrols.com/. (Logo: http://www.newscom.com/cgi-bin/prnh/20070930/AQSU001LOGO) First Call Analyst:
FCMN Contact: Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20070930/AQSU001LOGO
AP Archive: http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com
Source: Johnson Controls, Inc.
CONTACT: Webcast contact, Jeff Stevens, +1-414-524-3886, or Investor
Relations, Glen Ponczak, +1-414-524-2375, both of Johnson Controls Web site: http://www.johnsoncontrols.com/ Company News On-Call: http://www.prnewswire.com/comp/473547.html
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Profile: automotive-news
Energtek Subsidiary Completes First Ever Adsorbed Natural Gas (ANG) Motorcycle Road Test
Energtek Subsidiary Completes First Ever Adsorbed Natural Gas (ANG) Motorcycle Road Test VALLEY STREAM, N.Y., Oct. 17 /PRNewswire-FirstCall/ -- Energtek Inc.'s (BULLETIN BOARD: EGTK) subsidiary, Angstore Technologies Ltd, announced the successful completion of the first ever reported set of road tests of one of the most widespread scooters in India converted to run on ANG (Adsorbed Natural Gas). This is the first reported worldwide motorcycle to operate utilizing ANG technology. Based upon these successful tests, the company expects to begin serial conversions of motorcycles during 2008. The ANG technology allows storing Natural Gas under lower pressures than Compressed Natural Gas (CNG), the prevalent technology for Natural Gas Vehicles (NGV), does. The lower pressure used by ANG technology allows significant savings in the infrastructure costs of filling stations, allowing for lower fuel costs for the end-user, and may also enable a more efficient use of the vehicle's space. Additionally, at the same pressure levels, ANG technology permits storing greater amounts of natural gas than CNG does, thus enabling longer driving ranges. Lev Zaidenberg, CEO of Energtek, commented, "With the ground breaking achievement, Energtek solidifies the assertions made by industry insiders as being the 'world leader in ANG technology'. The conversion to ANG is accomplished in a couple of hours and at affordable prices. Since conversion from Gasoline to Natural Gas allows considerable savings on fuel costs, the company anticipates strong demand for the implementation of this new technology. Energtek intends to transform these achievements into product penetration in the Asian markets, in which two and three wheelers are the predominant vehicles. We expect to hold a leading position in the huge emerging market of conversions to Natural Gas fuel." About Energtek Inc. Energtek Inc. is becoming an industry leader in natural gas vehicle (NGV) technologies. Our business addresses this growing industry with a vast range of products, from cylinders and conversion kits for vehicles through infrastructure elements for Natural Gas transportation and filling stations, including the development of pioneering storage systems. Energtek Inc., through its investments and subsidiaries is creating an international network of synergetic activities in Asia, Europe, America and the Middle East. Forward-Looking Statements: This press release contains forward looking statements, including those related to future product plans, which involve known and unknown risks and uncertainties, which together with other factors could cause actual results to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. For a discussion of these and other known risks and uncertainties, individuals should refer to Energtek's SEC filings. Energtek does not undertake an obligation to update forward looking statements. Contact: IR@Energtek.com First Call Analyst:
FCMN Contact: leonardob@energtek.com
Source: Energtek Inc.
CONTACT: Energtek Inc., IR@Energtek.com Web site: http://www.energtek.com/
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Profile: automotive-news
Briggs & Stratton Corporation Announces Results of Annual Meeting
Briggs & Stratton Corporation Announces Results of Annual Meeting MILWAUKEE, Oct. 17 /PRNewswire-FirstCall/ -- Briggs & Stratton Corporation (NYSE:BGG): Briggs & Stratton Corporation announced the following results of its Annual Meeting held today: Shareholders reelected William F. Achtmeyer, David L. Burner and Mary K. Bush as directors to terms expiring in 2010. Shareholders ratified the selection of PricewaterhouseCoopers LLP as the company's independent auditors. James E. Brenn
Senior Vice President and
Chief Financial Officer
First Call Analyst:
FCMN Contact:
Source: Briggs & Stratton Corporation
CONTACT: James E. Brenn, Senior Vice President and Chief Financial
Officer of Briggs & Stratton Corporation, +1-414-259-5333
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Profile: automotive-news
Manufacturers and Independent Repairers Mark 5th Anniversary of Service Information Agreement
Manufacturers and Independent Repairers Mark 5th Anniversary of Service Information Agreement WASHINGTON, Oct. 17 /PRNewswire-USNewswire/ -- The Alliance of Automobile Manufacturers, the Association of International Automobile Manufacturers (AIAM) and the Automotive Service Association (ASA) today marked the 5th anniversary of a the very successful, voluntary agreement, to provide the same service, repair and training information to independent repairers as is made available to franchised auto dealers. Alliance CEO Dave McCurdy stated, "Manufacturers recognize the importance of the independent repair industry and remain committed to ensuring that consumers have the option of having their vehicles serviced by the repairer of their choice." Approximately 75 percent of all post warranty repairs are performed by independent repair facilities. This voluntary agreement ensures the continuing viability of the automotive service industry and eliminates the need for current and future legislation. AIAM President and CEO Mike Stanton said, "We believe our customers should be able to seek vehicle repair services wherever reliable and first-rate service is offered. Auto makers work very hard to make high-quality cars and trucks, and their reputations could be jeopardized if customers felt they could not go to the service and repair shop of their choosing." To help resolve service and repair related issues independent repairers are encouraged to work through the National Automotive Service Task Force (NASFT). NASTF serves as a forum to identify and resolve gaps involving motor vehicle repair information and tools. This national, voluntary solution has proven to be an effective resource for repairers and manufacturers alike, and over the course of the last six years has become a productive forum for dialogue between independent repairers, other industry stakeholders and automakers as well as an effective mechanism to help identify and resolve the few information gaps that remain. ASA President Ron Pyle added, "ASA is proud of the progress made for independent repairers relative to service, training and tool information. The 2002 ASA-Automaker agreement has provided our industry with a model for information that will assure repairers the necessary information for the foreseeable future. This model is indicative of the industry's ability to resolve many important issues in the marketplace without government intervention when the automotive industry works together." The Alliance is a trade association of nine car and light truck manufacturers including BMW Group, Chrysler LLC, Ford Motor Company, General Motors, Mazda, Mitsubishi Motors, Porsche, Toyota and Volkswagen. AIAM member companies include American Honda Motor Corp., American Suzuki Motor Corp., Aston Martin Lagonda of North America, Inc., Ferrari North America, Inc., Hyundai Motor America, Isuzu Motors America, Inc., Kia Motors America, Maserati North America, Inc., Mitsubishi Motors North America, Inc., Nissan North America, Inc., Peugeot Motors of America, Renault, SA, Subaru of America and Toyota Motor North America, Inc. AIAM also represents original equipment suppliers and other automotive-related trade associations. The Automotive Service Association is the largest not-for-profit trade association of its kind dedicated to and governed by independent automotive service and repair professionals. ASA serves an international membership base that includes numerous affiliate, state and chapter groups from both the mechanical and collision repair segments of the automotive service industry. First Call Analyst:
FCMN Contact:
Source: Alliance of Automobile Manufacturers
CONTACT: Charles Territo of Auto Alliance, +1-202-326-5523; or Kim Custer
of AIAM, +1-703-247-2110; or Caroline Holland of ASA, +1-202-543-1440 Web site: http://www.autoalliance.org/
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Profile: automotive-news
Tenneco Elects Dennis J. Letham to Board of Directors
Tenneco Elects Dennis J. Letham to Board of Directors LAKE FOREST, Ill., Oct. 17 /PRNewswire-FirstCall/ -- Tenneco (NYSE:TEN) announced today that Dennis J. Letham has been elected to the company's board of directors, effective immediately. Dennis Letham is executive vice president, finance and chief financial officer of Anixter International Inc., a $5.5 billion global distributor of communications products, wire & cable products, fasteners and other small components for original equipment manufacturers. (Logo: http://www.newscom.com/cgi-bin/prnh/20051028/CGF002LOGO) "We are pleased to add Dennis Letham to our board with his extensive financial background and global business experience," said Gregg Sherrill, chairman and CEO, Tenneco. "We look forward to his contributions as we accelerate our growth globally and capitalize on opportunities to enhance shareholder value." Dennis Letham has more than 17 years experience as a chief financial officer and for the past 12 years, has overseen all of Anixter International's finance, accounting, tax and internal audit activities in the 49 countries in which the company operates. Prior to assuming his role as chief financial officer in 1995, Mr. Letham served as executive vice president and chief financial officer of Anixter, Inc., the principal operating subsidiary of Anixter International Inc. He joined Anixter International in 1993. Previously, he had a ten-year career with National Intergroup Inc., where he held a number of senior financial management positions including senior vice president and chief financial officer. Tenneco is a $4.7 billion manufacturing company with headquarters in Lake Forest, Illinois and approximately 19,000 employees worldwide. Tenneco is one of the world's largest designers, manufacturers and marketers of emission control and ride control products and systems for the automotive original equipment market and the aftermarket. Tenneco markets its products principally under the Monroe(R), Walker(R), Gillet(TM) and Clevite(R)Elastomer brand names. Contacts: Jane Ostrander Leslie Hunziker
Media Relations Investor Relations
847 482-5607 847 482-5042
jostrander@tenneco.comlhunziker@tenneco.com First Call Analyst:
FCMN Contact: jlostrander@sbcglobal.net Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20051028/CGF002LOGO
AP Archive: http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com
Source: Tenneco
CONTACT: Jane Ostrander, Media Relations, +1-847-482-5607,
jostrander@tenneco.com, or Leslie Hunziker, Investor Relations,
+1-847-482-5042, lhunziker@tenneco.com, both of Tenneco Web site: http://www.tenneco.com/
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Profile: automotive-news
GAINSCO Auto Insurance Taps CCC Information Services for Claims Management Solutions
GAINSCO Auto Insurance Taps CCC Information Services for Claims Management Solutions Exclusive five-year agreements provide GAINSCO with an integrated solution to manage its claims process from notification to claims resolution CHICAGO, Oct. 17 /PRNewswire/ -- CCC Information Services Inc. has signed exclusive five-year agreements that will provide GAINSCO Auto Insurance ("GAINSCO") access to CCC's suite of integrated claims management solutions, helping to improve productivity and create efficiencies throughout the claims process. A Texas-based auto insurance carrier serving the Sunbelt states, GAINSCO is a growing company with an expanding direct repair program (DRP) strategy. The carrier was looking for seamless communications among its independent appraisers and DRP partners, so it could easily and efficiently exchange estimate-related information. GAINSCO also wanted reporting capabilities to help monitor and maintain performance levels across its growing network. With that in mind, GAINSCO selected the integrated solution set of CCC Autoverse(R) Claims Management, CCC Pathways(R) Appraisal Solution, CCC Valuescope(R) Claims Services and CCC Intellisphere(R) Insurance Reporting. CCC will also create interfaces for GAINSCO to provide seamless connectivity with its independent appraisers and DRP partners. "We are excited about our long-term relationship with CCC," said Robert Kuchta, GAINSCO's Vice President of Claims. "Our growing business, broad network of independent agents, and expanding DRP relationships require solutions that create operational efficiencies and streamline activities. By implementing CCC's integrated claims management solution, we expect to see efficiencies in claims handling and improved customer satisfaction." Many carriers have worked with CCC to implement an integrated approach to claims management. In the area of cycle time alone, these carriers have experienced a double-digit reduction in the number of days from when the loss report is filed to when an assignment is sent as well as the number of days from estimate initiation to estimate completion. According to Debbie Day, CCC's Senior Vice President of Marketing and Product Management, "Carriers of all sizes realize the value of implementing integrated solutions. This approach saves time on the front-end of the claims process, and provides both insight and actionable data for improved claims handling on the back-end. "CCC is happy to have been selected as the provider of choice by GAINSCO and we look forward to providing them with our leading solutions to help them meet their business objectives," Day said. About GAINSCO Auto Insurance GAINSCO, INC. (AMEX:GAN), through its insurance brand, GAINSCO Auto Insurance, sells its policies through a network of thousands of independent agents across Sunbelt states, including Florida, South Carolina, Texas, Arizona, Nevada, California, and New Mexico. Established in 1978, GAINSCO is headquartered in Dallas, with key regional field offices in Miami and Phoenix. For more information, visit http://www.gainsco.com/. About CCC CCC Information Services Inc. provides leading automotive claims and repair solutions that drive efficiencies and enable its clients to make smarter decisions in every step of the process. CCC delivers integrated products and deep industry insight to clients through its network of insurers, repair facilities and information providers. CCC's network includes 350 insurance carriers, in excess of 22,000 repair facilities and information from more than 30 data providers that has resulted in the industry's most comprehensive data warehouse of claims file information. For more information about CCC Information Services Inc., visit our Web site at http://www.cccis.com/ or contact John Harris of CCC at 312-229-2693. First Call Analyst:
FCMN Contact:
Source: CCC Information Services Inc.
CONTACT: Media, John Harris of CCC Information Services Inc.,
+1-312-229-2693, jharris@cccis.com Web site: http://www.cccis.com/
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Profile: automotive-news
Briggs & Stratton Declares Dividend
Briggs & Stratton Declares Dividend MILWAUKEE, Oct. 17 /PRNewswire-FirstCall/ -- Briggs & Stratton Corporation (NYSE:BGG): At its regular quarterly meeting held today, the Board of Directors of Briggs & Stratton Corporation declared a quarterly dividend of twenty-two cents ($0.22) per share on the common stock of the Corporation. The dividend is payable January 2, 2008 to shareholders of record at the close of business December 3, 2007. BRIGGS & STRATTON CORPORATION
James E. Brenn
Senior Vice President and
Chief Financial Officer
First Call Analyst:
FCMN Contact:
Source: Briggs & Stratton Corporation
CONTACT: James E. Brenn, Senior Vice President and Chief Financial
Officer, Briggs & Stratton Corporation, +1-414-259-5333
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Profile: automotive-news
The Delray Neighborhood House Dedicates the All-New Tom and Doreen LaSorda Library
The Delray Neighborhood House Dedicates the All-New Tom and Doreen LaSorda Library - Delray thanks the LaSorda's for their ongoing support by naming library in their honor - Books donated by Chrysler's African-American and Hispanic employee resource groups DETROIT, Oct. 17 /PRNewswire/ -- The Delray Neighborhood House dedicated its all-new library in honor of Tom LaSorda, the President and Vice Chairman of Chrysler LLC and his wife Doreen yesterday. The youth of the Southwest Detroit Delray community will enjoy the new Tom and Doreen LaSorda library with improvements ranging from new bookcases to furniture and books; all of which will aid in creating a positive environment. Several of the tomes were donated by Chrysler's African-American and Hispanic employee resource groups, each of which sponsored book drives. Delray Neighborhood House is a community center that provides social and educational resources for the surrounding community, including health and welfare courses, field trips and summer camp. The Delray Neighborhood House was selected in 2005 as one of The Chrysler Foundation's community initiatives. "My wife Doreen and I are pleased to support the further developments and improvements of Delray Neighborhood House services for the benefit of the residents in southwest Detroit," said LaSorda. "We hope that this library will be a place where children grow, discover their dreams and explore new worlds. Reading is truly the key to success for many young people. We want to thank Delray for making a difference in this community." "The new library will enable our community center to make the kind of quality-of-life improvements our children deserve," said Tom Cervanek, Executive Director of People's Community Services. "We can't thank Tom and Doreen enough for their generous support of the Delray community." Since 2005, The Chrysler Foundation has donated more than $112,000 to the Delray House. Last year, Chrysler helped refurbish the center's gymnasium which was named for the late Nate Gooden, former Vice President of the United Auto Workers union, Chrysler division. In addition, a new computer lab was built and named as the "Chrysler Computer Lab." Employee volunteers also helped assemble a playscape on the grounds for the neighborhood children and Chrysler Group donated a Dodge Sprinter van to help with residents transportation needs. The center serves more than 600 youth in the southwest Detroit neighborhood. The support of the Delray Neighborhood House is just the latest in a long, cooperative partnership with the City of Detroit. Through The Chrysler Foundation, the Company also has contributed to other community-building programs such as the YMCA, the Girl Scouts and the United Way. The Delray Neighborhood House is a division of People's Community Services, which is celebrating more than 50 years of service. First Call Analyst:
FCMN Contact:
Source: Chrysler LLC
CONTACT: Curtrise Garner, +1-248-512-2712 (office), +1-248-761-8309
(cell), cg61@chrysler.com, or David Elshoff, +1-248-512-2690 (office),
+1-248-797-2300 (cell), dte@chrysler.com, both of Chrysler LLC Web site: http://media.chrysler.com/
http://www.chrysler.com/ NOTE TO EDITORS: For more information, please visit the Chrysler media site at http://cgmedia.daimlerchrysler.com. For more information about 2007 labor negotiations, please visit http://www.chryslerlabortalks07.com. -------
Profile: automotive-news
Smartcool signs Memorandum of Understanding for expansion into German marketplace
Smartcool signs Memorandum of Understanding for expansion into German marketplace VANCOUVER, Oct. 17 /PRNewswire-FirstCall/ -- Smartcool Systems Inc. (TSXV: SSC), is pleased to report that Smartcool International Inc., a wholly owned subsidiary of the Company, has signed a Memorandum of Understanding with a German group for the purpose of becoming the exclusive distributor for all Smartcool products in the territory of Germany. Smartcool and the German group have agreed, as part of the due diligence process, to conduct a feasibility study that will involve the installation of Smartcool's Energy Savings Module (ESM(TM)) with clients selected by the potential distributor that have a national presence and multiple locations. The potential distributor will enter into agreements with these clients that will allow for a test period of no longer than four weeks from commencement in order to validate the economic feasibility of the technology at their facilities. At the end of the evaluation period the clients will be provided with a Savings Report which will form the basis for a purchase proposal. "As we have previously stated, it is our intention to expand Smartcool's identity in the international energy efficiency market place," states George Burnes, President. "By establishing a presence in Germany, we will be entering a marketplace that currently imports over 60% of the energy it uses and is widely recognized as a world leader in the adoption of energy efficiency technologies." As part of its business plan, Smartcool has implemented an aggressive international distribution model that has identified industry partners with an existing presence in their geographical area of exclusivity. In addition, our distributors have experienced sales and marketing and technical teams in order to ensure Smartcool's technology is well supported. "Each distribution agreement commits the distributor to acquiring a minimum level of equipment from Smartcool in order to maintain exclusivity in their region," comments Allan Thompson, CFO. "By identifying a distributor that is fully equipped to support Smartcool's initiatives, we expect that the revenues generated from our International division will exceed the levels that are set by the minimum requirements of the distribution agreements." Target Market - Germany: Germany is one of the world's largest energy consumers with limited domestic energy resources which results in Germany importing most of its energy. Germany has one of the largest economies in the world with GDP in excess of US$2.8 trillion and is also one of the world's largest energy consumers. In 2004, Germany produced 566.9 billion kilo watt hours (BkWh) and consumed 524.6 BkWh of electric power. Germany is the third largest carbon dioxide emitter in the OECD, behind the United States and Japan. Germany has a strong commitment to protecting its environment. It has actively promoted the use of renewable energy, both under the Kohl government with the Electricity Feed Law and under Schroeders' government with eco-taxes. However, Germany's reliance on coal, particularly brown coal, for electricity generation and the heavy industrialization of the economy has lead to serious problems with air pollution, acid rain and habitat degradation. These problems are particularly acute in the former East Germany. Germany ratified the Kyoto Protocol on climate change in May 2002 however the EU has decided to meet its Kyoto obligations as a whole, rather than individual signatories. Under the EU's burden-sharing program, Germany must cut its carbon dioxide emissions by 21% relative to the 1990 baseline during the 2008-2012 commitment period. About Smartcool Systems Inc.: Smartcool Systems Inc. is an advanced energy savings solutions company specializing in energy and cost reduction technologies for commercial and retail businesses. The company's wholly owned subsidiary, SmartCool International Inc., is the owner, developer, manufacturer and worldwide distributor of the Energy Saving Module (ESM(TM)). This green technology reduces the electricity consumption (kWh) and maximum demand (kW) of air conditioning and refrigeration compressors. Rather than replacing existing equipment, the ESM(TM) works in conjunction with existing controls in order to ensure that compressors work at maximum efficiency, while maintaining preset temperature levels and without causing over-cycling. Rising global energy demand is resulting in significant increases in energy prices. Environmental concerns are causing both government and industry to re-examine the way they do business. SmartCool provides companies with solutions to address the growing pressure to reduce energy costs, increase profits and reduce green house gas emissions. For more information, please visit www.smartcool.net. The TSX Venture Exchange has neither approved nor disapproved the
contents of this press release.
CONTACT: Allan Thompson, (604) 669-1388 or 1-888-669-1388 or allant@smartcool.net
Source: SmartCool Systems Inc.
CONTACT: Allan Thompson, (604) 669-1388 or 1-888-669-1388 or
allant@smartcool.net
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Profile: automotive-news
posted by automotive-news # 9:34 AM
WallSt.net Updates Investment Community Through All-New Interview with Real Logic
WallSt.net Updates Investment Community Through All-New Interview with Real Logic NEW YORK, Oct. 17 /PRNewswire/ -- On October 16, Michael J. Posner, President of Real Logic, Inc. (BULLETIN BOARD: RLLC) (http://www.reallogic.net/) updated the investment community in an all-new interview with www.wallst.net. Topics covered in the interview include an overview of the company and its growth strategy, recent press releases, market opportunity, and upcoming milestones for which investors should watch. To hear the interview in its entirety, visit http://www.wallst.net/ and click on "Interviews." The interview can be accessed either by locating the company's ticker symbol under the appropriate exchange at the top of the "Interviews" section of the site or by entering the company's ticker symbol in the Search Archive window. About Real Logic: Real Logic, Inc., through its subsidiaries, is developing alternative transportation vehicles, both fuel efficient and electric, for resort, neighborhood, utility, and recreational purposes. Depending on how they are outfitted, the vehicles may be used for neighborhood transportation, four-wheel-drive, off-road safari, resort, security patrol, construction and farm utility. In developing countries the vehicles may be used on and off road to provide entry level transport at lower costs than traditional vehicles. Real Logic, Inc. will be offering their products for sale in the U.S. and in burgeoning international markets. For more information, please visit http://www.reallogic.net/. About WallSt.net:
www.wallst.net is owned and operated by WallStreet Direct, Inc., a wholly owned subsidiary of Financial Media Group, Inc. The Web site is a leading provider of timely business news, executive interviews, multimedia content and research tools. Financial Media Group, Inc. also owns http://www.mywallst.net/, a financial social network for investors, and Financial Filings Corp., a provider of compliance solutions to publicly traded companies. Additionally, WallStreet Direct, Inc. owns and operates WallStRadio, a business and finance podcast Web site. Financial Filings Corp. is expecting to receive two hundred eighty dollars from Real Logic, Inc. for the dissemination of this press release. For a complete list of our advertisers, and advertising relationships, visit http://www.wallst.net/disclaimer/disclaimer.asp.
(Logo: http://www.newscom.com/cgi-bin/prnh/20050927/LATU121LOGO) Contact: WallSt.net
800-4-WALLST
First Call Analyst:
FCMN Contact:
Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20050927/LATU121LOGO
AP Archive: http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com
Source: Financial Filings Corp.
CONTACT: WallSt.net, 800-4-WALLST Web site: http://www.financialfilings.com/
http://www.reallogic.net/
http://www.wallst.net/
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Profile: automotive-news
posted by automotive-news # 9:34 AM
MICHauto to Host Chinese Delegation
MICHauto to Host Chinese Delegation City of Changchun Trade Delegation Seeks to Develop Business Relationships with Michigan Companies SOUTHFIELD, Mich., Oct. 17 /PRNewswire/ -- MICHauto, an automotive business accelerator that advocates the Michigan automotive industry, will play host to a delegation of business and municipal leaders from the city of Changchun, of Jilin Province in Northeast China, as they travel to Michigan to explore mutual opportunities with Michigan automotive and manufacturing firms. The announcement was made by MICHauto, who said that the City of Dearborn, the Dearborn Chamber of Commerce, and the Detroit Regional Economic Partnership will serve as co-hosts to the delegation. The delegation will arrive in Dearborn on Wed., Oct. 31 and depart on Fri. Nov. 2. "By hosting this delegation, MICHauto is in a position to serve as a major portal for Chinese companies wishing to do business in Michigan, and Michigan companies exploring partnerships in China," said Glenn Stevens, the MICHauto executive committee member coordinating the initiative. "Our ultimate goal is to bring business to Michigan," said Stevens. "Michigan has the greatest concentration of automotive research, design, engineering, and manufacturing companies in the world, and it is essential that we continue to build and strengthen that position for our state." "That said," continued Stevens, "there are also positives in helping our homegrown business establish themselves in China, one of the largest automotive and manufacturing markets. It enables our Michigan businesses to establish new revenue streams and increase profitability." Hosting the delegation comes on the heels of MICHauto's participation in a trade mission to China, where MICHauto representatives spoke at a conference designed to inform Chinese businesses on how to enter international markets, including Michigan. The delegation is scheduled to meet with business leaders throughout the region, and tour several automotive manufacturing and R & D facilities on Thursday, Nov. 1, followed by a reception and presentation from Changchun's Vice Mayor and several business leaders that comprise the delegation. The evening event will take place from 5:00 - 8:00 p.m. at the Ford Community and Performing Arts Center in Dearborn, and is open to parties interested in doing business in China. About MICHauto MICHauto was formed to leverage Michigan's automotive industry cluster to sustain and grow its position as a global leader in research, development and manufacturing. MICHauto serves as the automotive hub of Michigan promoting collaboration and unlocking its power to increase Michigan's competitive advantages. MICHauto is the only Michigan automotive organization that is all-inclusive, counting automakers, suppliers, and others with ties to the automotive industry as members. It serves its members by providing unique benefits that will help grow and enhance their Michigan-based businesses. Contact:
MICHauto
Glenn Stevens/ 248.563.3569
gstevens@bwasi.com Rohatynski-Harlow Public Relations
Joe Rohatynski - 313-368-6570 Marc Harlow - 810-599-2558
joe@joepr.commarc@harlowpr.com First Call Analyst:
FCMN Contact:
Source: MICHauto
CONTACT: Glenn Stevens of MICHauto, +1-248-563-3569, gstevens@bwasi.com;
or Joe Rohatynski, +1-313-368-6570, Marc Harlow, +1-810-599-2558, both of
Rohatynski-Harlow Public Relations
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Profile: automotive-news
posted by automotive-news # 9:27 AM
Fall Colors Peak in Northern Lower Peninsula, Says AAA
Fall Colors Peak in Northern Lower Peninsula, Says AAA DEARBORN, Mich., Oct. 17 /PRNewswire/ -- Michigan's annual fall color show continues to migrate south reports AAA Michigan, with red, yellow and orange hues in "peak" condition in parts of the Northern Lower Peninsula. Most of the Upper Peninsula is now past peak. Rain and wind have hampered color development across much of the state. AAA's weekly survey of state parks and regional visitor's bureaus shows muted tones in many areas of the northern lower peninsula. Naturalists at Petoskey State Park report that hues are 100 percent developed there. Alpena, East Tawas, Harrison, Harrisville, Ludington, Mackinaw City, Rogers City and Traverse City also report color development at 100 percent. On the west side of the state, color is filling in fast. Prime viewing conditions are expected this weekend at Grand Rapids and Ludington, with 75-80 percent color development reported there. In the Southwest, peak color is still a week or two away. At Holland State Park and Warren Dunes State Park in St. Joseph, color development is reported at 40 percent, with 50 percent color development reported at Yankee Springs Recreation Area in Hastings. In the Southeast, prime fall color is still a week or two away. Fifty percent color development is reported in Milford, Shelby Township and Tipton. Fall color watchers looking for the best viewing opportunities can call Travel Michigan at (888) 78-GREAT (784-7328) for color updates provided by AAA Michigan each Wednesday through October. Updates also will be posted at AAA.com (enter ZIP code, click ABOUT AAA tab), or visit www.michigan.org. AAA Michigan offers automotive, travel, insurance and financial services to more than 1.6 million members in Michigan. It is part of The Auto Club Group (ACG), the largest affiliation of AAA clubs in the Midwest, with approximately 4.1 million members in eight states. ACG belongs to the national AAA federation, a not-for-profit organization with more than 50 million members in the United States and Canada. First Call Analyst:
FCMN Contact:
Source: AAA Michigan
CONTACT: Jim Rink, +1-313-336-1513, or Nancy Cain, +1-313-336-1514, both
of AAA Michigan Web site: http://www.aaa.com/
http://www.michigan.org/
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Profile: automotive-news
posted by automotive-news # 8:39 AM
Toyota Goes Two-Wheel Racing with Joe Gibbs
Toyota Goes Two-Wheel Racing with Joe Gibbs Toyota to be Presenting Sponsor of Joe Gibbs Racing Motocross Team TORRANCE, Calif., Oct. 17 /PRNewswire/ -- Toyota Motor Sales, U.S.A., Inc. today announced that it will join forces with Joe Gibbs Racing (JGR) as the presenting sponsor of its new motocross team, which will field two riders in the 2008 Supercross and Motocross series. As the presenting sponsor of the JGR team, Toyota expands its presence in the world of two-wheeled racing. Currently Toyota is the title sponsor of the AMA Motocross and Arenacross series and is the official truck of the AMA and GP Supercross series. Toyota also provides privateer support programs that support the riders in each of the series. "The Gibbs Racing sponsorship is a natural progression of Toyota's motorcycle racing support," says Paul Czaplicki, Engagement Marketing Manager for Toyota. "Toyota's current involvement in the sport has been very successful and sponsoring a team was the next step in continuing our support of the sport, athletes and fans." As part of the JGR sponsorship, Toyota logos will be prominently displayed on the team's bikes, riders' gear and transporter. The team and riders -- Josh Hansen and Josh Summey -- will be seen around the pits and town in Toyota Tundra trucks. In addition, fans will find a JGR replica bike in Toyota's International Motorcycle Show exhibit space starting in October 2007. An added benefit of the sponsorship is the behind the scenes opportunities it offers to the fans. Toyota and JGR will be developing informational displays and videos with the JGR team mechanics and team manager, Jeremy Albrecht. These videos and interactive experiences will be found at Supercross, Motocross and Arenacross events across the country and will showcase bike set up tips and techniques as well as how set ups differ to match the terrain and series the rider is racing. "Toyota's a great partner and we are looking forward to having them join us in our new racing effort," says Coy Gibbs, President, Joe Gibbs Racing MX. Earlier this month, Joe Gibbs Racing and Toyota Motor Sales, U.S.A. announced JGR will run Toyota Camrys for the 2008 NASCAR Sprint Cup and NASCAR Nationwide Series. Joe Gibbs Racing presented by Toyota team will make their debut in Anaheim, Calif. On January 5, 2008 for the first Supercross race of the 2008 season. Toyota Motor Sales, USA, Inc. Toyota established operations in the United States in 1957 and currently operates 10 manufacturing plants, including one under construction. There are more than 1,400 Toyota, Lexus and Scion dealerships in the U.S. which sell more than two million vehicles a year. Toyota directly employs more than 32,000 people in the U.S. and its investment here is currently valued at more than $13 billion, including sales and manufacturing operations, research and development, financial services and design. Media Contact: Tracy Segal
GolinHarris for Toyota Motor Sales, U.S.A., Inc.
213-438-8784
tsegal@golinharris.com First Call Analyst:
FCMN Contact:
Source: Toyota Motor Sales, U.S.A., Inc.
CONTACT: Tracy Segal of GolinHarris for Toyota Motor Sales, U.S.A.,
Inc., +1-213-438-8784, tsegal@golinharris.com Web site: http://www.toyota.com/
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Profile: automotive-news
posted by automotive-news # 8:18 AM
Silver Tops Charts as Most Popular Vehicle Color, according to PPG Industries
Silver Tops Charts as Most Popular Vehicle Color, according to PPG Industries Black and Blue Are Gaining on Repeat Leader TROY, Mich., Oct. 17 /PRNewswire/ -- Around the globe, silver is at the top of the charts as the most popular color for 2007 cars... but other colors are gaining on the perennial leader. According to the annual automotive color popularity data released today by PPG Industries (NYSE:PPG) -- the world's leading manufacturer of transportation coatings -- silver is losing some steam as black closes in on the long-time favorite. In addition, brighter hues such as blue, red and niche market colors seem primed for resurgence. Globally, silver held the top position as the most popular car color at 31.5 percent (down from 33 percent in 2006). Black jumped to 18 percent (from 15.4 percent in 2006) to take second place, followed by white (12.5 percent), blue (12.4 percent), red (8.8 percent), naturals (gold, orange and brown tones, 6.6 percent), other/niche market colors (5.9 percent) and green (3.8 percent). In North America, silver also held the top spot over other vehicle colors with 22 percent (down two percent from last year). White, another automotive palette staple, was the second most popular North American color for 2007 with 16 percent. Black came in third at 15 percent -- up two percentage points from last year -- followed by red (13 percent), blue (12 percent), naturals (10 percent), other/niche market colors (6 percent) and green (5 percent). "Silver is popular with consumers and automakers because it accentuates the styling of a vehicle and looks modern while also having a high resale value," said Jane E. Harrington, PPG manager, color styling, automotive coatings. "We're looking at new interpretations to emerge in tinted silvers and charcoal shades. In addition, hue-shifting pigments can really make silvers look unique." The rising popularity of black, white and other colors stems from the fashion and interior design industries, Harrington said. "Today's consumers are aware of trends and design, and they expect to see that reflected in the vehicles they buy." Harrington added that automakers realize the right color "can get you noticed," and said a survey PPG conducted at the North American International Auto Show in Detroit showed more than 65 percent of consumers surveyed said they would select one vehicle over another if more color choices were available. "Consumers want choices, and that will lead to a more colorful automotive future." Color trends for 2010 - 2011 model years Looking beyond 2007, the colorists of the PPG Global Design and Color Marketing Team examined cultural and lifestyle trends to create cutting-edge color palettes and special effects that meet automakers' goals for brand identity, durability, workability and cost effectiveness. For the 2010 - 2011 model years, they have developed 105 exterior colors and more than 25 interior color concepts for automakers' consideration. The collection is presented to automakers during PPG's global color show, called "VIEW" this year. "One of the first things you notice about a vehicle is the color," Harrington said. "This year's color show highlights our viewpoint on color, trends, technology and the global automotive market." Some new colors in the collection are Cold Stare, a tinted silver with a steel blue highlight; Double Vision, a medium green with a red hue-shifting highlight; Out of Sight, a soft brown with a blue hue-shifting highlight; Quest, a citrus-inspired yellow metallic; and Gleam, an icy green with an intense gold flash. In addition to color trend forecasting, PPG is on the forefront of creating new paint technologies that enhance automotive design and exceed appearance requirements. This year, the company has demonstrated improvements in special effect pigments. The incorporation of Andaro nanopigment technology by PPG into traditional and alternative OEM coating systems is enabling designers to create new color spaces. These pigments offer higher color saturation while maintaining customer-required durability. "Our focus for this year's global color show explores effect pigments," said Jerry R. Koenigsmark, PPG manager of color design, North America automotive coatings. "To remain a leader in color design, our methods must be outside the normal mode of thinking. PPG continues to create unique ways of using effect pigments that result in innovative looks and add a new dimension to color and technology." On the forefront of innovation in decorative and protective coatings and environmental application concerns since 1927, PPG helps automakers advance coatings technologies and application processes. About PPG Pittsburgh-based PPG is a global supplier of paints, coatings, chemicals, optical products, specialty materials, glass and fiber glass. The company employs more than 34,000 people and has 125 manufacturing facilities and equity affiliates in more than 25 countries. Sales in 2006 were $11 billion. PPG shares are traded on the New York and Philadelphia stock exchanges (symbol: PPG). For more information, visit www.ppg.com. Andaro is a trademark of PPG Industries.
Source: PPG
CONTACT: Simon Cheung of PPG Automotive Coatings, +1-248-641-2278,
cheung@ppg.com; or Leslie Dagg for PPG, +1-248-269-1122, ldagg@bianchipr.com Web site: http://www.ppg.com/ NOTE TO EDITORS: An electronic image of PPG's 2007 color popularity chart, the color trend sheet and additional information can be obtained by contacting Leslie Dagg at 248-269-1122 or ldagg@bianchipr.com. -------
Profile: automotive-news
posted by automotive-news # 8:16 AM
ITW Reports Diluted Net Income Per Share of 89 Cents in the 2007 Third Quarter; Revenues Increased 16 Percent, Net Income Grew 10 Percent and Diluted Net Income Per Share was 14 Percent Higher in the Quarter
ITW Reports Diluted Net Income Per Share of 89 Cents in the 2007 Third Quarter; Revenues Increased 16 Percent, Net Income Grew 10 Percent and Diluted Net Income Per Share was 14 Percent Higher in the Quarter GLENVIEW, Ill., Oct. 17 /PRNewswire-FirstCall/ -- Illinois Tool Works Inc. (NYSE:ITW) today reported 14 percent growth in diluted net income per share in the 2007 third quarter. Diluted net income per share was $0.89 versus $0.78 in the 2006 third quarter. Additionally, the Company's third quarter net income increased 10 percent. The double-digit growth in third quarter earnings per share was in part due to ongoing strength from a broad variety of international end markets tempered by weaker North American end market activity. Total Company revenues increased 15.7 percent in the quarter. While total base revenues grew 2.2 percent in the quarter, international base revenues increased 5.1 percent and North American base revenues were up modestly. Even with slower North American end markets, the Company's North American base revenue growth rate improved 160 basis points from the 2007 second quarter. Also, acquisitions net of divestitures added 10.3 percent of growth to revenues while translation contributed 3.8 percent. Other income decreased $16.8 million from the year ago period as a result of lower investment income. For the 2007 third quarter, revenues were $4.094 billion versus $3.538 billion for the prior year period. Third quarter operating income improved to $696.3 million from $626.9 million a year ago. Net income was $491.1 million compared to $446.1 million in the prior year period. The Company's third quarter operating margins of 17.0 percent were 70 basis points lower than the year-ago period due to the significantly higher levels of acquisitions in the last half of 2006 and thus far in 2007. Excluding acquisitions, third quarter base margins improved 60 basis points versus the prior year period. For the 2007 nine months, revenues increased 15 percent, operating income grew 8 percent, net income rose 9 percent and diluted net income per share was 12 percent higher than the year-ago period. Operating revenues were $12.013 billion versus $10.415 billion for the prior year period. Operating income improved to $1.964 billion from $1.827 billion a year ago. Net income was $1.399 billion compared to $1.278 billion and diluted net income per share was $2.50 versus $2.24 in the prior year period. The Company's 2007 nine month operating margins of 16.3 percent were 120 basis points lower than the year earlier period. The Company's free operating cash flow was a strong $656 million in the third quarter. This cash was utilized to acquire 18 companies in the most recent quarter representing $218 million of annualized revenues. Through September 30, the Company acquired 37 companies totaling $830 million of annualized revenues and in aggregate paid less than one times revenues. In the third quarter, the Company also repurchased $479 million of shares as part of its open-ended buyback program. Year to date, the Company has spent a total of $959 million to repurchase shares. "Despite continued headwinds in a number of North American end markets, we capitalized on stronger international end markets and our 80/20 operating discipline to post double-digit earnings growth for the quarter," said David B. Speer, chairman and chief executive officer. "We continue to be optimistic about our acquisition opportunities and, as a result, we have modified our acquisition range to $1.0 billion to 1.2 billion of annualized revenues for the full year." Segment highlights include: North American Engineered Products third quarter revenues increased 2.4 percent as base revenues declined 1.7 percent and acquisitions net of divestitures added 3.7 percent. Base revenue performance improved in the quarter versus the second quarter largely due to better than expected North American automotive base revenues and easier comparables. In the quarter, automotive base revenues increased 2 percent thanks largely to better builds by the Detroit 3 and the New Domestics. As a result of ongoing weakness in housing construction, North American construction base revenues declined 5 percent. Operating income declined 3.2 percent as base income fell 5.0 percent mainly due to weak construction results. As a result, operating margins of 16.6 percent were 100 basis points lower than the year ago period. For the 2007 nine months, revenues grew 0.6 percent, operating income declined 7.3 percent and operating margins of 16.5 percent were 140 basis points lower than a year ago. International Engineered Products third quarter revenues and operating income increased 32.5 percent and 28.3 percent, respectively. Revenues grew dramatically as base revenues contributed 6.7 percent and acquisitions net of divestitures added 16.7 percent. Translation contributed 9.2 percent to the top line. Both base revenues and base operating income largely benefited from contributions from the construction and automotive business units. Operating margins of 14.7 percent were 50 basis points lower than the year ago period due to the dilutive impact of acquisitions. For the 2007 nine months, revenues increased 32.8 percent, operating income grew 30.5 percent and operating margins of 14.0 percent were 20 basis points lower than the year earlier period. North American Specialty Systems third quarter revenues increased 10.5 percent mainly due to an 8.3 percent contribution from acquisitions net of divestitures. Base revenues added 1.9 percent to the top line largely due to the food equipment and welding business units. Operating income growth of 7.3 percent was primarily due to base income contributions from welding and food equipment. Operating margins of 19.4 percent were 60 basis points lower than the year earlier period due to the dilutive effect of acquisitions. For the 2007 nine months, revenues increased 9.9 percent, operating income grew 3.6 percent and operating margins of 18.9 percent were 110 basis points lower than the year ago period. International Specialty Systems third quarter revenues increased 26.3 percent. The significant growth in revenues was due primarily to a 15.0 percent contribution from acquisitions net of divestitures. Base revenues contributed 3.6 percent and translation added 7.6 percent to the top line. Base revenues largely benefited from growth from the food equipment business units. Operating income increased 25.3 percent as base income growth of 10.5 percent was attributable to the food equipment, test and measurement, and welding businesses. Operating margins of 14.4 percent were 10 basis points lower than the year ago period. For the 2007 nine months, revenues increased 29.0 percent, operating income grew 22.1 percent and operating margins of 12.9 percent were 80 basis points lower that the year earlier period. Looking ahead, the Company is forecasting a 2007 fourth quarter diluted earnings per share range of $0.86 to $0.90 and a full-year range of $3.36 to $3.40. Total Company base revenues are expected to grow in a range of 2.1 percent to 4.1 percent in the fourth quarter and 1.9 percent to 2.5 percent for the full year. If the Company achieves the midpoints of these forecasted ranges, the diluted earnings per share growth would be 14 percent for the fourth quarter and 12 percent for the full year. This Earnings Release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, without limitations, statements regarding end market conditions, base revenue growth, earnings growth, operating income, other income, acquisitions, use of free cash and the Company's related forecasts. These statements are subject to certain risks, uncertainties and other factors which could cause actual results to differ materially from those anticipated. Important factors that could cause actual results to differ materially from the Company's expectations are set forth in ITW's Form 10-Q for the 2007 second quarter. ITW is a $14.1 billion in revenues diversified manufacturer of highly engineered components and industrial systems and consumables. The Company consists of approximately 750 business units in 49 countries and employs some 55,000 people. ILLINOIS TOOL WORKS INC.
(In thousands except per share data) THREE MONTHS ENDED NINE MONTHS ENDED
SEPTEMBER 30, SEPTEMBER 30,
STATEMENT OF INCOME 2007 2006 2007 2006
Operating Revenues $4,093,803 $3,538,014 $12,012,533 $10,414,520
Cost of revenues 2,642,744 2,292,192 7,767,288 6,704,687
Selling,
administrative,
and R&D expenses 715,662 593,719 2,162,565 1,797,361
Amortization
and impairment of
goodwill &
other intangibles 39,102 25,237 119,060 85,874
Operating Income 696,295 626,866 1,963,620 1,826,598
Interest expense (25,824) (20,804) (75,832) (58,710)
Other income 19,017 35,830 89,741 71,688
Income Before Taxes 689,488 641,892 1,977,529 1,839,576
Income taxes 198,400 195,800 578,400 561,100
Net Income $491,088 $446,092 $1,399,129 $1,278,476 Net Income Per Share:
Basic $0.89 $0.79 $2.52 $2.26
Diluted $0.89 $0.78 $2.50 $2.24 Shares outstanding
during the period:
Average 549,561 567,637 555,474 566,114
Average assuming
dilution 554,255 570,929 559,949 569,857 ESTIMATED FREE OPERATING THREE MONTHS ENDED NINE MONTHS ENDED
CASH FLOW SEPTEMBER 30, SEPTEMBER 30,
2007 2006 2007 2006
Net cash provided by
operating activities $736,441 $569,605 $1,690,898 $1,322,597
Less: Additions to PP&E (80,298) (77,796) (254,627) (222,790)
Free operating cash flow $656,143 $491,809 $1,436,271 $1,099,807 ILLINOIS TOOL WORKS INC.
(In thousands)
SEPT 30, JUNE 30, DEC 31,
STATEMENT OF FINANCIAL POSITION 2007 2007 2006
ASSETS
Cash & equivalents $602,104 $481,508 $590,207
Trade receivables 2,842,414 2,882,698 2,471,273
Inventories 1,607,759 1,612,380 1,482,508
Deferred income taxes 218,205 213,905 196,860
Prepaids and other current
assets 431,932 463,792 465,557
Total current assets 5,702,414 5,654,283 5,206,405 Net plant & equipment 2,120,571 2,116,828 2,053,457
Investments 546,342 560,667 595,083
Goodwill 4,326,929 4,183,793 4,025,053
Intangible assets 1,267,465 1,225,320 1,113,634
Deferred income taxes 116,904 132,978 116,245
Other assets 801,561 762,531 770,562
$14,882,186 $14,636,400 $13,880,439 LIABILITIES and STOCKHOLDERS'
EQUITY
Short-term debt $101,467 $528,096 $462,721
Accounts payable 779,068 805,983 707,656
Accrued expenses 1,248,136 1,192,528 1,187,526
Cash dividends payable 152,307 115,874 117,337
Income taxes payable 125,038 177,671 161,344
Total current liabilities 2,406,016 2,820,152 2,636,584 Long-term debt 1,573,074 956,578 955,610
Deferred income taxes 324,332 285,668 259,159
Other liabilities 1,192,279 1,185,546 1,011,578
Total non-current liabilities 3,089,685 2,427,792 2,226,347 Common stock 5,620 5,612 6,309
Additional paid-in capital 142,920 106,908 1,378,587
Income reinvested in the
business 9,556,758 9,217,978 10,406,511
Common stock held in treasury (958,911) (479,873) (3,220,538)
Accumulated other comprehensive
income 640,098 537,831 446,639
Total stockholders' equity 9,386,485 9,388,456 9,017,508
$14,882,186 $14,636,400 $13,880,439
First Call Analyst:
FCMN Contact:
Source: Illinois Tool Works Inc.
CONTACT: John Brooklier of Illinois Tool Works Inc., +1-847-657-4104,
jbrooklier@itw.com Web site: http://www.itw.com/
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Profile: automotive-news
posted by automotive-news # 8:08 AM
tedrive Names Kersten Janik as New CEO
tedrive Names Kersten Janik as New CEO HEERLEN, The Netherlands, October 17/PRNewswire/ -- The managing board of tedrive, an automotive supplier
specialising in driveshafts, differentials and steering systems, announced
today that Kersten Janik is the new Chief Executive Officer of tedrive
Holding B.V. effective 1 December 2007. The CEO post at tedrive is thus occupied for the first time
since tedrive was formed in April of this year. tedrive sees itself as a
company with dynamic and flexible structures and emphasises flat hierarchies.
From now on, Kersten Janik and Chief Financial Officer Tom Schultz, who has
already led tedrive's establishment phase, will jointly steer the group's
strategic and operative development. Janik, 45, will take charge of product development,
manufacturing, quality management and sales. He will also share
responsibility with Schultz for corporate strategy, communications and human
resources. Schultz, meanwhile, will manage the purchasing, finance and IT
departments. "Kersten Janik's primary duties include raising awareness of
tedrive in the international automotive sector and putting the company on a
more global level in structural terms," explained Schultz. "Following
tedrive's foundation and carve-out from the previous corporate structures, we
were able to establish the company as a focused player, particularly in
Europe. Above and beyond further stabilisation, our strategic outlook is now
clearly aimed at longevity and growth." tedrive already has a very strong and secure market position
in Europe when it comes to the driveshaft, differential and steering system
product lines. To achieve growth in other regions, the company's future sales
and product strategies will focus increasingly on business outside Europe.
Janik has very intimate knowledge of the automobile industry's global
situation and, together with Schultz, will drive the strategic advancement of
tedrive group on a global structural level. "In doing so, Kersten Janik will also be closely involved with
the expansion of production and development capacities in Brazil and Poland,"
added Schultz. "Brazil is considered the launch pad for broadening business
activities in South America and the NAFTA region, and Poland is meant to take
a leading role in acquiring further orders in Central and Eastern Europe and
Russia." Prior to joining tedrive, Kersten Janik was head of the
passenger car unit at Bosch's Diesel Systems division in Stuttgart, Germany.
Another highlight of his eight years at Bosch was a four-year tenure as plant
manager of a diesel injection systems plant in the Czech Republic. Janik has many years of leadership and project management
experience in the automotive sector as well as other industries. He is also
well versed at establishing and directing development and production
processes. Prior to Bosch, Mr. Janik spent some time as co-owner of a
management consultancy. There he worked on projects in the areas of process
design, strategic corporate development, restructuring and change management
for a variety of operations from different industries, including the
engineering, automobile, steel and energy sectors. "Kersten Janik brings a wide range of practice and know-how
that will greatly benefit our company during its redefinement phase," said
Schultz, who is pleased about the imminent reinforcement of tedrive's top
management. "I also believe that bringing a specialist like Mr. Janik on
board sends a powerful signal to our customers. He considers it his mission
to raise our already high standard of product quality and process technology
to the next level, making a partnership with tedrive even more attractive to
our customers. Side by side, we will be committed to the stable, long-term
development of the tedrive group." tedrive is the expert for driveshafts, differentials and
steering systems. With annual sales of some EUR480 million and 2,600
employees at five locations, tedrive is a focused mid-sized automotive
supplier that is active globally. The company headquarters is located in
Heerlen, the Netherlands.
Media contacts: Britta Lange-Stolle
Britta.Lange@tedrive.com
phone: +49-(0)6151-36-86-202
cell: +49-(0)176-633-00-524
fax: +31-(0)455-79-00-77 Astrid Rediger
Astrid.Rediger@tedrive.com
phone: +31-(0)455-74-04-00
cell: +49-(0)160-53-90-411
fax: +31-(0)455-79-00-77 tedrive Holding B.V.
Communications
Stationstraat 50
6411 NK Heerlen
The Netherlands Source: tedrive Holding B.V. Media contacts: Britta Lange-Stolle, Britta.Lange@tedrive.com, phone: +49-(0)6151-36-86-202, cell: +49-(0)176-633-00-524, fax: +31-(0)455-79-00-77; Astrid Rediger, Astrid.Rediger@tedrive.com, phone: +31-(0)455-74-04-00, cell: +49-(0)160-53-90-411, fax: +31-(0)455-79-00-77; tedrive Holding B.V., Communications, Stationstraat 50, 6411 NK Heerlen, The Netherlands
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Profile: automotive-news
posted by automotive-news # 7:21 AM
Safe Auto Insurance Offers Tips for 'Street Safe Teens'
Safe Auto Insurance Offers Tips for 'Street Safe Teens' Company President Participates in Television Campaign Focused on Keeping Teenage Drivers Safe COLUMBUS, Ohio, Oct. 17 /PRNewswire/ -- Safe Auto Insurance Company president, Jon Diamond, knows the dangers teenage drivers face on a daily basis - which is why he is participating in a television campaign aimed at keeping teenage drivers safe. Diamond appeared on WXIX-TV's feature, Street Safe Teens, an ongoing campaign focused on creating a dialogue between young drivers and their parents. (Logo: http://www.newscom.com/cgi-bin/prnh/20071017/CLW004LOGO ) "When it comes to safety, teenage drivers have more than just inexperience against them," Diamond said. "The average car a teenager drives is more than ten years old. These are cars that can have more problems with breakdowns and require additional maintenance." Safe Auto Insurance Company recently conducted a survey among its customers using the free roadside assistance program unveiled in June 2007. The survey found the top three reasons Ohio drivers requested roadside assistance was for vehicle breakdown, vehicle lockout and flat tires. "The survey shows that break downs happen, and they happen often," Diamond continued. "It just goes to show how important it is for all drivers, but especially those who are just learning the ropes to know how to handle these situations, and more importantly, how to avoid them." Diamond recommends that teen drivers: 1. Keep up with preventative maintenance. Monitor their car to make sure
the oil level is adequate and the tire pressure isn't low.
2. Keep the number for roadside assistance with them at all times. Program
it into a cell phone or keep it in the glove compartment.
3. If they do experience a breakdown: don't panic. Pull off to the side of
the road - as far out of the way of traffic as possible. Put flares
around the car for safety. Then, make the first call to a roadside
assistance program. If they don't have roadside assistance, call
someone who can come help. Diamond also stressed the importance of experienced drivers and parents teaching teenage drivers about the basics of what's under the hood of their car and the responsibility of being a good driver. "It sounds very elementary, but it's the little things like tire pressure and regular oil changes that will keep an older car running and keep younger drivers from being stranded on the side of the road," Diamond said. About Safe Auto Safe Auto Insurance Company was started in Ohio in 1993. As a provider of minimum insurance coverage and serving an underserved market, the company quickly expanded into Indiana, Kentucky, Georgia, Pennsylvania, South Carolina, Tennessee, Louisiana, Mississippi, Illinois, Arizona, Oklahoma and Texas. Today, the company provides minimum insurance coverage to automobile drivers in 13 states. Safe Auto is a direct-to-consumer auto insurance company that does not rely on a middleman, which ultimately saves its clients money. The company specializes in minimum coverage to meet the law's requirements for automobile insurance coverage in every state in which it operates. For more information visit http://www.safeauto.com/ For more information on Street Safe Teens, visit
http://www.streetsafeteens.com/ First Call Analyst:
FCMN Contact:
Web sites: http://www.safeauto.com http://www.streetsafeteens.com
Photo:
http://www.newscom.com/cgi-bin/prnh/20071017/CLW004LOGO
AP Archive: http://photoarchive.ap.org/
PRN Photo Desk, photodesk@prnewswire.com
Source: Safe Auto Insurance Company
CONTACT: Michelle Moore of Paul Werth Associates, +1-614-224-8114, ext.
228, mmoore@paulwerth.com
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Profile: automotive-news
posted by automotive-news # 7:09 AM
BASF Podcast: The Chemical Reporter - What Makes a Car's Paint Scratch-Resistant?
BASF Podcast: The Chemical Reporter - What Makes a Car's Paint Scratch-Resistant? LUDWIGSHAFEN, Germany, October 17/PRNewswire/ -- Automotive paint must endure a great deal in its travels: scrubbing car
wash brushes, flying rocks and stones or lashing tree branches. Even our
finger nails leave permanent traces behind when opening and closing the car's
doors. What must be done with the paint so that it resists all the stresses
and strains as long as possible? In entertaining weekly episodes our Chemical
Reporter answers questions on Chemistry in our everyday life.
Direct subscription via RSS-Feed or iTunes (search for "basf"): http://corporate.basf.com/en/podcast/reporter.xml Podcast The Chemical Reporter, English edition: http://www.basf.com/podcast More information: BASF Coatings - Paint with Unusual Properties http://www.basf-coatings.de/en_UK/innovations/productinno_special.xml More podcasts: Podcast Chemistry of Innovations: http://www.basf.com/podcast This podcast is the audible innovation magazine of BASF. Experience
monthly an actual topic on how Chemistry will design our future. The actual
episode is on "Innovative plasticizer for sensitive applications". RSS-subscription: http://corporate.basf.com/en/podcast/innovation.xml Direct subscription of BASF Podcasts via RSS-Feed http://corporate.basf.com/en/podcast/reporter.xml http://corporate.basf.com/en/podcast/innovation.xml Direct iTunes subscription when iTunes is installed (or search for
"basf"): itpc://corporate.basf.com/en/podcast/reporter.xml itpc://corporate.basf.com/en/podcast/innovation.xml
The use of the audio material is royalty-free. We appreciate information
on the use to podcast@basf.com .
BASF is the world's leading chemical company: The Chemical Company. Its
portfolio ranges from chemicals, plastics, performance products, agricultural
products and fine chemicals to crude oil and natural gas. As a reliable
partner to virtually all industries, BASF's high-value products and
intelligent system solutions help its customers to be more successful. BASF
develops new technologies and uses them to meet the challenges of the future
and open up additional market opportunities. It combines economic success
with environmental protection and social responsibility, thus contributing to
a better future. BASF has approximately 95,000 employees and posted sales of
EUR52.6 billion in 2006. BASF shares are traded on the stock exchanges in
Frankfurt (BAS), London (BFA) and Zurich (AN). Further information on BASF is
available on the Internet at http://www.basf.com. A Podcast is available at
http://www.presseportal.de/pm/67695/basf_podcast_english
Editorial contact:
For the UK:
BASF plc
Chris Wilson
Corporate Communications
Phone: +44-161-488-5616
Fax: +44-161-488-4133
E-Mail: chris.wilson@basf.com For the US:
BASF Corporation
Betsy Arnone
Corporate Communications
Phone: +1-973-245-7865
Fax: +1-973-245-6714
E-Mail: elizabeth.blicharz@basf.com For Germany/Europe:
BASF Aktiengesellschaft
Rainer Mueller-Mueffelmann
Corporate Innovation Communications
Phone: +49-621-60-41040
Fax: +49-621-60-20548
E-Mail: podcast@basf.com Source: BASF Podcast English Editorial contact: For the UK: BASF plc, Chris Wilson, Corporate Communications, Phone: +44-161-488-5616, Fax: +44-161-488-4133, E-Mail: chris.wilson@basf.com; For the US: BASF Corporation, Betsy Arnone, Corporate Communications, Phone: +1-973-245-7865, Fax: +1-973-245-6714, E-Mail: elizabeth.blicharz@basf.com; For Germany/Europe: BASF Aktiengesellschaft, Rainer Mueller-Mueffelmann, Corporate Innovation Communications, Phone: +49-621-60-41040, Fax: +49-621-60-20548, E-Mail: podcast@basf.com
-------
Profile: automotive-news
posted by automotive-news # 5:59 AM
Nissan Completes Acquisition of Sweden's ATLET AB
Nissan Completes Acquisition of Sweden's ATLET AB TOKYO, October 17/PRNewswire-FirstCall/ -- Nissan Motor Co., Ltd. announced today the completion of its acquisition
of ATLET AB on 16th through its subsidiary, Nissan Forklift Europe B.V.,
following approval from the European Commission. Mr. Toshio Aoki, General Manager of Industrial Machinery Division at
Nissan Motor, is appointed as new chairman of the board at ATLET while Mr.
Keiji Ikeda of Nissan Motor is appointed as new CEO at ATLET. Both will be
based at the ATLET headquarters in Mölnlycke, Sweden. Nissan Forklift's key markets include Europe, USA, Japan and other global
markets. Nissan Forklift's main products are engine and battery powered
counterbalanced forklifts. Atlet has a strong presence in Europe, its main
market, and is also experiencing growth in emerging markets. The agreement will allow both companies to benefit from the exchange of
technology and manufacturing know-how. In addition, joint purchasing
opportunities are expected to improve cost competitiveness. Combined, the companies produce more than 36,500 units worldwide a year
with an annual turnover of 858 million euros. Both brands and sales networks
will be operated separately in the market. Notes to Editors: Nissan Forklift Europe B.V. is a wholly-owned subsidiary of
Nissan Motor Co., Ltd., and is part of Nissan Motor's industrial machinery
division. Nissan Motor's Industrial Machinery Division produces material
handling products and is celebrating its 50th anniversary this year.
Outline of Nissan Motor's Industrial Machinery Division
Headquarters: Tokyo, Japan
Start of forklift production: 1957
Production facilities: Japan, USA and Spain
Sales: EUR 676mil
Production: 30,000 units
Number of Employees: Approx. 1,400 (including
subsidiaries) Outline of ATLET AB Atlet was founded 49 years ago by Knut Jacobsson and since then, this
family-owned business has provided new and innovative solutions for the
internal material handling market. Headquarters: Mölnlycke, Sweden
Operations: Development, manufacturing and sales
of warehouse material handling equipment
Start of production: 1958
Sales: SEK 1,685.8 million /EUR 182mil
Production: 6,500 units
Number of Employees: Approx 1,000 (including subsidiaries)
For more information, contact:
Nissan Europe
Penny Szczepaniak, Nissan Europe
Tel: +33-1-30-13-57-87
http://www.nissan-nfe.com Nissan Motor Co., Ltd. (Japan)
Communications CSR Department
Global Communications CSR and IR Division
Tel:+81-(0)3-5565-2141
http://press.nissan-global.com/EN Source: Nissan Europe For more information, contact: Nissan Europe, Penny Szczepaniak, Nissan Europe, Tel: +33-1-30-13-57-87; Nissan Motor Co., Ltd. (Japan), Communications CSR Department, Global Communications CSR and IR Division, Tel:+81-(0)3-5565-2141
-------
Profile: automotive-news
posted by automotive-news # 3:47 AM
VIRginia Int'l Raceway Saturday summary
Motorsport.com - More than just the Grand-Am racing is on the schedule for Sunday, as a wide variety of stunt motorcycle competition, drifting and "track attack" events will fill every minute of the day with action for guests to enjoy. Tickets are available at the [continued ]
posted by automotive-news # 2:15 AM
CBaySystems Gives Away 2008 Honda Civic at AHIMA 2007
CBaySystems Gives Away 2008 Honda Civic at AHIMA 2007 Over 1,000 HIMs look on as Evelyn Bickley wins CBay's 'Keys to Medical Records Success' sweepstakes ANNAPOLIS, Md., Oct. 17 /PRNewswire/ -- CBaySystems, a leading provider of transcription and healthcare BPO services, today announced the winner of its "Keys to Medical Records Success" sweepstakes at this year's AHIMA Convention and Exhibit in Philadelphia. (Photo: http://www.newscom.com/cgi-bin/prnh/20071017/NEW009 )
(Logo: http://www.newscom.com/cgi-bin/prnh/20070625/NEM130LOGO )
Driving the 2008 Honda Civic home was Evelyn Bickley, Director of Health Information at Medicorp Heath System, Fredericksburg, Virginia.
"I was just so shocked when they called my name," said Ms. Bickley, who has been a HIM for nearly 22 years. "No one I've told about it - including my husband, daughter and friends - can believe that I won. I feel like a celebrity." "We had a fantastic show and a huge turnout," said Chris Foley, President, CBaySystems and Services, Inc. "It was a party atmosphere, celebrating our 7th year at AHIMA and a great opportunity to thank the entire HIM community for a great partnership." In all, over 3,000 conference attendees visited the CBay booth and entered to win. It was the first time a car has ever been given away at AHIMA's Convention and Exhibit, now in its 79th year. "We're very happy for Evelyn," said Foley. "We think the quality, performance and cost-savings of her new Honda will be a constant reminder of the benefits that make CBaySystems so popular with HIMs." About CBaySystems CBaySystems is a leading provider of medical transcription and healthcare technologies to large hospitals, healthcare networks and physician practices throughout the United States, and is a leader in patient financial services to hospitals and hospital-based physician practices in the United States. The company utilizes secure Internet technologies combined with its global-based delivery model to deliver its service and product offerings to healthcare providers. Since it was founded in 1998, CBaySystems has been acknowledged by some of the industry's leading publications and ratings institutions, including Forbes.com - Ten to Watch, Healthcare Informatics 100, Deloitte Technology Fast 500, and Inc. Magazine -One of the Fastest Growing Privately Held Companies in America. CBay is headquartered in Annapolis, MD, and Atlanta, GA. CBaySystems Holdings Ltd joined the AIM market of the London Stock Exchange on June 18, 2007 and trades under the ticker symbol CBAY. For more information, visit www.cbaysystems.com. For additional information, please contact:
Stacey Cassidy
Director of Marketing
410.940.6900 x 3195
scassidy@cbaysystems.com Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20071017/NEW009
http://www.newscom.com/cgi-bin/prnh/20070625/NEM130LOGO
AP Archive: http://photoarchive.ap.org/
AP PhotoExpress Network: PRN1
PRN Photo Desk, photodesk@prnewswire.com
Source: CBaySystems
CONTACT: Stacey Cassidy, Director of Marketing, CBaySystems,
+1-410-940-6900 ext 3195, or scassidy@cbaysystems.com Web site: http://www.cbaysystems.com/
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