WASHINGTON-President Clinton is scheduled to sign the combined minimum wage increase-small business tax relief bill the week of Aug. 19, roughly three weeks after both houses of Congress overwhelmingly passed the legislation. Besides raising the minimum wage to $5.15 per hour from the previous $4.25, the bill gradually increases the annual expensing limit for small business equipment purchases from the current $17,500 to $25,000 by 2003.
It also re-establishes the Work Opportunity Tax Credit, formerly known as the Targeted Jobs Tax Credit. That provision allows small businesses to claim a tax break on part of the first-year wages of handicapped or underprivileged hirees.
BFS to expedite carrier cliams for its dealers
NASHVILLE, Tenn.-Bridge-stone/Firestone Inc. has introduced a new carrier claim program under which BFS will assume responsibility for filing carrier claims of lost or damaged shipments for its dealers.
Dealers will still pay the full invoice for damaged or lost shipments, but instead of filing a claim with the carrier themselves-which can take up to 120 days to resolve, BFS said-the dealers turn in their delivery receipts and invoices to BFS, which will immediately credit dealers' accounts, then handle the processing and resolution of the claims with the carrier.
The program covers all Bridgestone and Firestone brand tires, except OTR tires.
Gokodyear to fulfill FedEx retread needs
AKRON-Goodyear will now provide all of the truck tire retreading requirements for Federal Express Corp. under an expanded tire supply agreement.
A contract to supply new and replacement tires to FedEx's fleet of 35,000 vehicles has been in effect since last fall and called for gradually phasing in Goodyear retreading services at FedEx.
Goodyear company-owned retread operations and dealers in North America will provide a variety of retreaded truck tires to nearly 700 FedEx locations. Financial details of the contract were not disclosed.
Douglas to supply ACCC battery line
MEMPHIS, Tenn.-American Car Care Centers has signed an agreement with Douglas Battery to supply a complete line of battery products, including a Premium Gold line under the ACCC name.
The ACCC line will feature a ``no hassle'' free replacement warranty, with an extended pro-rata warranty for an additional 72 months. The products will be supported by Nationwide Emergency Road Side Assistance, along with marketing and merchandising programs to enhance dealer sales, ACCC said.
4day exec joins AKH as v.p. of pruchasing
COMMERCE, Calif.-One of Lansdale & Carr Corp.'s former top executives, Joseph Seitz, left the company to become vice president of purchasing for AKH Co.'s Discount Tire and Evans Tire & Service Centers.
Mr. Seitz, who joined Discount Tire Aug. 1, is responsible for all procurement activities affecting the company's 87 company-owned stores and 10 franchise stores within Los Angeles, Orange County, Sacramento, San Jose, Bakersfield, Riverside, San Bernardino, Fresno and San Diego, Calif.
At Lansdale & Carr, Mr. Seitz was president of Shamrock Golf Manufacturing and vice president of 4day Tire Stores and Macho Tire Co.
Calif. moves tire fee to point of sale
SACRAMENTO, Calif.-Gov. Pete Wilson signed into law AB 2108, which shifts the state's tire fee from the point of disposal to the point of sale of new tires.
Beginning Jan. 1, tire dealers will collect 25 cents on the sale of every tire, keeping 10 percent for their administrative costs and remitting the remaining amount to the state. Tire dealers may still charge for disposal costs.
Currently, the state's tire fund rakes in nearly $4 million annually from the 25 cents collected for each old tire left with dealers-far less than the $7 million expected, due to stockpiled, illegally dumped and unreported old tires. The new law is expected to boost revenues by anywhere from $500,000 to $2 million.
Kumho alters name to reflect business
FONTANA, Calif.-Kumho U.S.A. Inc. changed its name June 1 to Kumho Tire U.S.A. Inc. to better reflect that its business is tires, compared to its parent firm, Kumho & Co. Inc. in South Korea, which is involved in an array of industries, a company spokesman said.
The phone numbers and address of the Fontana-based company remain unchanged.
Coming up next. . .
AKRON-The Sept. 2 issue will feature TIRE BUSINESS's annual ranking of North America's largest independent tire dealerships and franchise chains, along with updates on their business activities and plans for the coming year.