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INDUSTRY NEWS


Financial analysis 101
Modern Tire Dealer
Tire and service shop owners are busy folks. And, even if they had the time, our industry is not known for having dealers take the time to review their monthly financial statements on a regular basis. I believe this holds dealers back from achieving their true potential of “improving their bottom line profits.” After looking at hundreds of monthly profit and loss statements, as well as gathering industry data from the financial community, here are some stats that should interest us.
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Honda recalls S2000 sports car, Acura RSX to fix brake problem
Los Angeles Times
Honda is recalling about 18,000 vehicles including the Acura RSX sedan and the Honda S2000 sports car sold in the U.S. because of a brake problem. The automaker said a manufacturing error in the power brake system components may cause it to decrease the assistance it provides in braking, a factor that increases the risk of a crash.
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Michelin: Replacement market should perk up in 2nd half
Tire Business
Consumers throughout North America have held on to their aging vehicles for so long that now they are being forced to buy new vehicles — which has created a growing demand for OE tires, according to Scott Clark, Michelin North America Inc.'s COO of consumer tires. Unfortunately, the replacement market hasn't fared as well so far this year, with slight growth expected for the rest of the year, according to Clark, who, with Jaye Young, U.S. marketing manager for Michelin Truck Tires, shares their views of tire market trends for the year.
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Customers willing to pay for a smile
Fox Business
It may seem simple, but a smile may be the secret to small business success. A recently released study from London's Kingston University found that a smile and a friendly greeting were the most common reason why shoppers felt loyalty toward independent businesses.

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Are you reaching your profit potential?
Modern Tire Dealer
Two percent net profit. Is that your net profit? It's the industry average. Norm Gaither says you can do better.

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Why American businesses need immigration reform
LinkedIn
The bipartisan push in the Senate to reform our troubled immigration system is a critical effort that may fuel economic growth in America and take the necessary action for a sustainable future for the country.

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Health reform can help small businesses, but many questions persist
AsianWeek
As we celebrate National Small Business Week, many discussions will happen around entrepreneurship, innovation and best practices. But with the enrollment date for the health reform insurance marketplaces quickly approaching, the focus should be on one of the biggest challenges that small business owner's face: finding affordable health insurance coverage.
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Taylor: Falling OTR tire prices will be temporary
Rubber News
Falling farm and off-the-road tire prices — the result of heavy equipment makers' and mining companies' releasing tires from their inventories into the aftermarket — should last only a few months, Titan International Inc. Chairman and CEO Maurice Taylor Jr. said recently. "We feel that this is a bump in the road as we have experienced this in the past," Taylor said in a prepared comment on the first five months of 2013. Taylor attributed the temporary supply situation on some short-term decision making.
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Are the Yellow Pages outdated? Tire dealers don't think so
Modern Tire Dealer
The Yellow Pages have been derided as old-school advertising. Everyone seems to be saying the Web is the way to go. "The Yellow Pages aren't nearly as cost effective as digital media," they say. It appears, however, the Yellow Pages still have a place in our society. Recently, there were 65 listings for "new tire" dealers in the Stark County, Ohio, phone book, led by Ziegler Tire & Supply Co. with six retail outlets. There also were listings under used tires (15), tire repair and tire retreading.
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Loans to very small businesses make a difference
San Antonio Express-News
Small businesses that receive loans are more likely to survive, achieve higher revenue and create more jobs, according to an independent study that used data from microlender Accion Texas Inc. The study noted that "obtaining a loan has a strong effect on the future financial position of startups" and enables very small firms to succeed.
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Residents can dispose of tires at no cost in Missouri counties
Southeast Missourian
Two counties in Missouri are providing residents an opportunity to properly dispose of scrap tires at no cost. The Missouri Department of Natural Resources, a partner in the disposal process, said on its website the removal of scrap tires is a priority for environmental and health reasons. It estimates that Missouri residents generate approximately 5 million scrap tires annually, which can then harbor "mosquitoes, snakes and other vermin." The program at Scott County already is underway, and highway superintendent Norman Brant said it has collected more than 2,000 tires. Although improper disposal has not been a large problem in the area, he said the county found it important to offer the program.
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TRENDING ARTICLES
Missed last week's issue? See which articles your colleagues read most.

    Why American businesses need immigration reform (LinkedIn)
Health exchange options for small businesses will be limited until 2015 (The Washington Post)
Are you reaching your profit potential? (Modern Tire Dealer)

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