“Stadium District auto dealership closes - Tacoma News Tribune” plus 4 more

Stadium District auto dealership closes - Tacoma News Tribune
Mechanic accused of fondling himself in customer's car - MyCentralJersey.com
AAA buying Bob Sumerel tire chain - Cincinnati.com
Consumer spending jumps 1.3 percent in August - Sun-Times news group
Safelite AutoGlass Parent Completes Acquisition of IGD Industries ... - Market Wire

Stadium District auto dealership closes - Tacoma News Tribune

Posted: 01 Oct 2009 11:21 AM PDT

Seventy-five years of Chevrolet sales at Tacoma's North First Street and Division Avenue ended Wednesday with the closure of Bruce Titus Chevrolet.

The dealership was among 1,100 General Motors told last spring that it wouldnt renew their franchises in October 2010.

Our lease was up in March, so I just decided we should take an opportunity to get out when we had a good chance, said dealership owner Bruce Titus.

Titus sold the car repair business to his cousin Jamie Will. Will plans to open a service and tire repair business in the former Chevrolet garage today.

The former Bruce Titus lots across North First Street from the dealership are expected to become independent used car dealers.

The federal governments Cash for Clunkers program helped Titus pare down his inventory before the closure. The remaining new Chevrolets he sold to Jamie Will for his Titus-Will Chevrolet dealership in Olympia.

I think it will be a good deal for the neighborhood, said Titus. Theyll still have a place to get their cars serviced in the North End, and it will save the jobs of a number of my former employees.

Meanwhile on the buildings ground floor, Stadium Thriftway is expanding its footprint into part of the bodyshop.

The demise of Bruce Titus Chevrolet ends 75 years of new car sales in the building. Titus had owned the Chevy franchise there for five years. Friendly Chevrolet had occupied the building for half-a-dozen years before that.

Walker Chevrolet, Friendlys predecessor, had been in the building since 1934, said Rick Fields, service manager at the new repair business.

Titus said that absent General Motors notice that his franchise would be ended, he would still be in business at 633 Division Ave.

We did a nice business there, he said. The facility was getting a little old, but it fit in well in the North End.

General Motors is reducing its dealer network to match its reduced car sales. The nations largest carmaker reorganized its operations under bankruptcy. In the process, in addition to closing dealerships, the company announced it was ditching its Pontiac brand and shuttering plants throughout the U.S.

On Wednesday, the company announced it would shut down its Saturn operations after negotiations to sell it to the Penske Automotive Group collapsed.

Bruce Titus wont be out of the car business with the Chevrolet dealership closure. He has seven other new car stores in his automotive group. They include: Tacoma Subaru, Tacoma Nissan, Olympia Chrysler, Olympia Jeep, Olympia Mitsubishi, Olympia Nissan and Eastside Subaru.

John Gillie: 253-597-8663

john.gillie@thenewstribune.com

blogs.thenewstribune.com/business

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Mechanic accused of fondling himself in customer's car - MyCentralJersey.com

Posted: 01 Oct 2009 10:31 AM PDT

FREEHOLD TOWNSHIP — A mechanic drove a customer's car to a strip mall, parked next to a vehicle occupied by children and fondled himself, police said.

But a retired New York City police officer spotted the man in the car, so she noted the license plate and called police, authorities said.

A detective tracked down the car, then determined that Kevin B. Waguespack, 44, of Freehold Township, was behind the wheel of the vehicle Tuesday afternoon, police said.

Waguespack was arrested at work on Wednesday and charged with lewdness.

Police began their investigation around 3:50 p.m. Tuesday, after getting the call from the retired officer, said Detective Lt. Roy Ruiz.

Waguespack had parked the customer's vehicle next to a car occupied by two girls, ages 11 and 12, whose parents were shopping inside Burlington Coat Factory at Freehold Mall on Route 9, said Ruiz.

The 44-year-old drove away before police arrived, but Detective William Peace determined the car belonged to a customer of Quality Auto on Route 9, who had dropped off the vehicle for repairs, said Ruiz.

Police arrested Waguespack at the auto repair shop around 4:20 p.m. Wednesday.

He is free on $500 bail.

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AAA buying Bob Sumerel tire chain - Cincinnati.com

Posted: 01 Oct 2009 09:05 AM PDT

AAA Allied Group Inc., the downtown-based operator of AAA clubs in seven states, has reached an agreement to purchase the Bob Sumerel retail tire and auto service business, effective Nov. 1.

AAA Allied said the move was part of its long-term business strategy to expand automotive services from the roadside to the garage. Financial terms were not disclosed.

Erlanger-based Sumerel ranked 77th on the 2008 Deloitte Cincinnati USA listing of the largest privately held businesses in Greater Cincinnati and Northern Kentucky, with 2007 revenues of more than $91 million. Sumerel has 18 stores in Southwest Ohio, three in Northern Kentucky and one in Southeast Indiana, as well as eight stores in central Ohio.

AAA Allied provides travel, insurance, automotive and financial services to AAA members in seven states - Connecticut, Virginia, West Virginia, Kentucky, Ohio, Indiana and Kansas. AAA said in a news release it plans to expand Bob Sumerel retail stores to additional markets in the future.

"AAA and Bob Sumerel have long-standing traditions of offering world-class, reliable automotive services. Area motorists now have one trusted organization catering to their automotive needs, from roadside assistance to vehicle maintenance and repair work," said James L. Pease, III, chairman and CEO of AAA Allied said in a release. "Sumerel's operations and culture align perfectly with AAA, affording us the opportunity to expand services, value and benefits for members."

"This is a very exciting opportunity that highlights the strategic synergies between AAA and Bob Sumerel Tire & Service," said Bob Sumerel, founder and chairman of Bob Sumerel Tire Group. "The combination of these two trusted and reputable brands will enhance the value of services available to existing and new Bob Sumerel customers and AAA members to provide growth opportunities for both businesses."

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Consumer spending jumps 1.3 percent in August - Sun-Times news group

Posted: 01 Oct 2009 09:19 AM PDT

WASHINGTON--Consumer spending, propelled by the wildly popular Cash for Clunkers auto sales program, shot up in August by the largest amount in nearly eight years even though personal incomes continued to lag.

The Commerce Department said Thursday that consumer spending rose 1.3 percent in August, even better than the 1.1 percent gain that had been expected. Incomes, the fuel for future spending gains, continued to lag, edging up 0.2 percent in August, the same as the July increase.

The big jump in consumer spending, which accounts for 70 percent of total economic activity, is a good indication that the economy was returning to positive growth this summer. But economists are worried that any rebound from the recession could falter if income growth does not improve.

The government had reported Wednesday that the overall economy, as measured by the gross domestic product, was shrinking at an annual rate of 0.7 percent in the April-June quarter, the fourth straight quarterly decline as the nation continued to be battered by the longest recession since the 1930s.

The strong increase in spending in August, which followed a 0.3 percent rise in July, sets the stage for a return to positive growth in the third quarter. Many economists believe the GDP grew at an annual rate as high as 3 percent to 3.5 percent in the summer and should maintain growth at that level in the final three months of this year.

However, they are worried that growth could slip to a much more sluggish pace next year as the impact of government stimulus programs lessens and households continue to be battered by rising unemployment and a variety of other problems.

The big jump in spending and much weaker gain in incomes translated into a big drop in the savings rate. Personal savings in August fell to 3 percent of after-tax incomes, down from 4 percent in July. That was still nearly double the savings rate of a year ago and economists believe the savings rate will keep trending higher as households try to repair investment savings shredded by the recession.

Incomes looked even weaker after adjusting for inflation. Real disposable incomes, which adjust for inflation and required tax payments, edged down 0.2 percent in August, the third straight monthly decline.

The 1.3 percent rise in consumer spending in August was the biggest increase since a 2.8 percent surge in October 2001, a rise that reflected auto incentives put in place to jump-start activity following the Sept. 11, 2001 terrorist attacks. Taking out the effects of inflation, spending showed an increase of 0.9 percent, also the largest gain since October 2001.

Many economists believe that spending will slump in September, reflecting the fact that the Cash for Clunkers program, which offered car buyers up to $4,500 to trade in their old vehicles for fuel efficient cars, ended in late August.

Paul Dales, an economist at Capital Economics in Canada, said that he believed the big dip in the savings rate was only temporary, reflecting the rush to buy cars. He said the savings rate could rise as high as 8 percent in coming months as households continue to recoup from the severe loss of wealth they suffered during the recession and last year's stock market plunge.

"This suggests that beyond the next few quarters, consumption growth will remain weak, undermining the sustainabily of the economic recovery," he said in a research note to clients.

Inflation, as measured by a gauge tied to consumer spending, showed a 0.3 percent rise in August, but that reflected higher energy costs. Excluding food and energy, this inflation gauge edged up just 0.1 percent and is 1.3 percent higher than a year ago, well within the comfort zone for the Federal Reserve, meaning that the central bank can continue to keep a key interest rate at a record low to spur an economic rebound.

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Safelite AutoGlass Parent Completes Acquisition of IGD Industries ... - Market Wire

Posted: 01 Oct 2009 09:34 AM PDT

SOURCE: Safelite AutoGlass

Safelite AutoGlass®

About Belron® US

COLUMBUS, OH--(Marketwire - October 1, 2009) - Belron® US, operators of Safelite AutoGlass®, the nation's leading vehicle glass repair and replacement company, has completed the acquisition of the vehicle glass repair and replacement assets of IGD Industries. These businesses include Auto Glass Center, Inc.; Auto Glass Center of Kansas, Inc.; Arnie's Auto Glass Center; Glass Installations, LLC (DBA Midwest Auto Glass Center); JC's Glass LLC; and Globe of Iowa LLC (DBA Nationwide Auto Glass) and Alliance Claims Solutions, Inc.

The acquisition was announced on September 23 and the deal closed effective September 30.

"This acquisition brings together two businesses that complement each other well," said Tom Feeney, Belron® US president and chief executive officer. "We are thrilled to welcome this new group of talented people into our family and will now begin discussions on how we can work together."

Approximately 450 employees working for Alliance Claims Solutions and the Auto Glass Center family of brands operating 78 stores in 16 states primarily in the Midwest and Western regions of the United States join Belron® US bringing the company's headcount to 9,000.

"For now we want everyone to continue to do what they do everyday... provide the best possible service to our customers," said Feeney. "Until we formalize action plans related to the integration of the businesses, our people will continue to work as they do today and report to the same individuals."

The Belron® US and Auto Glass Center and Alliance Claims Solutions leadership teams under the direction of John Sadler, vice president, supply chain development and business integration, will work together to formalize integration plans, which are expected to be implemented over the next few months.

IGD Industries (formerly Iowa Glass) is based in Cedar Rapids, Iowa and has been in business since 1946.

About Belron® US

Belron® US, a subsidiary of Belron SA, is a multi-faceted vehicle glass and claims management service organization based in Columbus, Ohio. The company, which has been in business since 1947, is comprised of four major business operations that include vehicle glass repair and replacement services, operating under the trade names Safelite AutoGlass®, Auto Glass Specialists®, Cindy Rowe Auto Glass™, Diamond Triumph Glass™, Elite Auto Glass™ and the Auto Glass Center family of brands; Safelite® Solutions and Alliance Claims Solutions which offer fleet and insurance claims management services; Service AutoGlass®, a wholesale and distribution operation; and Safelite Glass Corp., a manufacturing and distribution business unit. The company employs more than 9,000 people throughout the United States.