Transportation equipment industry
Kirby McInerney & Squire, LLP, a law firm specializing in complex litigation, filed class action complaints against Gliatech, Ford, Priceline.com, and Xerox, alleging securities law violations. The complaints allege that the companies made material misrepresentations and omissions, artificially inflating their stock prices and causing damage to investors who bought
Transportation equipment industry
Covisint, the internet-based trade exchange backed by major vehicle makers, is set to conduct its first auction within the next few days, following successful pilots at the end of last week. This first auction marks a significant step towards achieving Covisint's goal of linking automotive suppliers and manufacturers
Transportation equipment industry
An investigation by the National Highway Traffic Safety Administration (NHTSA) into possible safety defects in Steeltex tires, a new population of Firestone light truck tires, has been opened due to an influx of complaints following a recall of 14.4 million tires in August. The new investigation is linked to
Transportation equipment industry
Ford Motor Co. has decided to equip the majority of its new Explorer sport utility vehicles with Michelin tires, marking a significant shift away from Firestone tires following a massive recall. The recall, which was issued on August 9, has prompted Ford to seek alternative suppliers, including Michelin. This move
Transportation equipment industry
Following the catastrophic Bridgestone/Firestone Inc. recall of 6.5 million tires, Continental General Tire Inc. has announced a voluntary recall of 160,000 16-inch tires on 39,000 Ford Motor Co.-made Lincoln Navigators. The recall is not linked to any deaths, injuries, or serious accidents, but rather to
Transportation equipment industry
Federal-Mogul Corporation has been selected by Ford Motor Co. to supply brake rotors and drums as replacement parts for use in Ford passenger cars and light-duty trucks. This new partnership will leverage Federal-Mogul's knowledge of manufacturing and distribution in both the original equipment and aftermarket channels to provide
Transportation equipment industry
From 1995 to 1998, fatal crashes involving Ford Explorers were almost three times as likely to be tire-related as fatal crashes involving other sport utility vehicles, analysis of data from the Department of Transportation's Fatality Analysis Reporting System revealed. The discrepancy emerged after The New York Times analyzed
Transportation equipment industry
Telecommunications giant WorldCom Inc. has made a major move in the high-tech industry by agreeing to pay $3 billion in stock to acquire Intermedia Communications Inc. and a controlling stake in Digex Inc. This acquisition positions WorldCom as a major player in the rapidly growing industry of hosting Web sites
Transportation equipment industry
Corporate leaders are being forced to confront a reality that experts have been touting for years: full disclosure and contrition are essential to repairing a damaged brand. Advertisements from United Airlines and Ford Motor Co. are a stark example of this shift towards transparency. In these commercials, CEOs are vowing
Transportation equipment industry
The recall of 6.5 million Firestone tires used primarily on the Ford Explorer has resulted in a significant blow to the profits of large parts suppliers such as Visteon Corp. and Lear Corp. Additionally, other suppliers like Johnson Controls Inc., ArvinMeritor Inc., Dana Corp., and BorgWarner Inc. are expected
Transportation equipment industry
Globalization has been a major force in boosting living standards around the world since the fall of the Berlin Wall and the collapse of the Soviet Union. According to Federal Reserve Chairman Alan Greenspan, this trend is likely to continue, despite potential concerns about economic downturns. Greenspan's comments
Transportation equipment industry
Ford Motor Co. will temporarily halt production at three US plants to redirect 70,000 tires to customers in need of replacements for recalled Firestone tires. This move comes as a safety group, the Center for Auto Safety, takes the companies to court over their limited recall of Firestone ATX,
