December 1, 2009
Navistar's Spiral of Despair: the Latest Salvo
Fresh from the pen of Lawrence Levine, here is Navistar's latest submission to the Court. Makes for some interesting reading, but, for readers in a hurry to get to the laugh out loud bits, we'd direct your attention to Pages 35 and 36.
November 27, 2009
Anyone left at MAN?
The CEO and the CFO go in the same week, and FP now rules the world.
October 19, 2009
Daimler Exceeds Expectations
So pleased is Daimler with its Q3 figures that it decided to put them out some way ahead of schedule. Read all about it here.
However, good news makes us nervous, and so we note that the problems at MAN keep on coming. Sabine Drzisga is spending more time in her garden, and we hear that Martin Scharrer has disappeared too.
Given that these moves - along with the the departure of Erichreineke back in July - come BEFORE the investigators have done their thing, and are a result of an INTERNAL investigation, we're given to wondering what sort of scalps will be claimed once the Feds start arriving at conclusions. Remember Siemens?
October 16, 2009
Navistar's Spiral of Despair. Two Weeks Notice.
That's what William Caton has given Navistar. The Chief Risk Officer - and formerly CFO - will retire on 31st October.
We don't have much form on WC, so looked him up in Compliance Week. Here's his bio:
William Caton is executive vice president and chief risk officer for Navistar International Corp. Previously the chief financial officer, Caton also serves on the company's executive council, which is responsible for management's strategic direction. As chief risk officer, he is responsible for assessing and planning for potential strategic, operational, financial, and compliance-related risks. He also helps minimize the company's liability and related management costs, and is responsible for coordinating Navistar's enterprise risk management (ERM) approach. Prior to joining Navistar, Caton was vice president and chief financial officer of Dover Diversified Inc., a subsidiary of Dover Corp. He has also held financial posts at 3M Co., Pillsbury, and VICORP.
Continue reading "Navistar's Spiral of Despair. Two Weeks Notice." »
October 14, 2009
Changes at VTNA
We receive this:
Effective November 1, Mack Trucks and Volvo Trucks North America will be combined organizationally into one Volvo Group business area called North American Trucks. Denny Slagle, currently President & CEO of Mack, will head the new business area, reporting to Leif Johansson. Per Carlsson, currently President & CEO of Volvo Trucks North America, will become Chief Operating Officer of the new business area, reporting to Denny. This is a natural evolution in line with the steps we've taken over the last several years to improve our efficiency and competitiveness (combining "back office" support functions like HR and IT, and more recently moving the Mack headquarters to Greensboro, etc.)
We will continue to have two strong, distinct brands in the North American market, with separate sales organizations, brand strategies, and vehicle ranges. This change is driven by our desire to create the optimal organization for strengthening both brands in this market.
We will continue to have two strong, distinct brands in the North American market, with separate sales organizations, brand strategies, and vehicle ranges. This change is driven by our desire to create the optimal organization for strengthening both brands in this market.
September 28, 2009
Paccar Closes Peterbilt Plant
No surprise, given that it has been shuttered since July 2008, but Paccar has announced that its Madison, Tennessee plant will close permanently as of December 1st this year.
September 17, 2009
Navistar's Spiral of Despair. Gathering Speed.
Thanks to CL for the tip-off.
We are used to Navistar's documented and recorded view that SCR is 'Toxic and volatile'. We have chuckled at Breathe-E-Z Hebe's comments regarding respirators. We have squinted at MWM's deployment of SCR in Brazil, whilst its parent company Navistar sues the EPA, alleging that SCR is possessed of an inherent lethality. This is the Navistar that we know and love.
What, then, do we make of the latest accusation to be leveled at SCR?
"We think SCR is a very viable technology. We can't find anything negative about it." So says Tim Schick, Director of Business and Product Strategy at - er - Navistar.
WTF? These people are putting the satirist community out of business.
Maier Exits Daimler, but Bernhard Remains in the Cold
Something of a shame this, as we have high regard for Klaus Maier, previously head of the MB truck brand, and, more recently, sales chief for the MB Car business. Interestingly, Wolfgang Bernhard remains where he is - at vans - and Joachim Schmidt gets the gig instead. This would seem to be very much against the run of play.
Scania Sees Europe as Levelling Out
Speaking at its Capital Markets day, Scania CEO Leif Ostling suggested that the downturn is now over, but that the upturn remains some distance away, with visibility improving over the next few months.
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