Aydin Corp. replaces chairman; others quit

Article Abstract:

Aydin Corp. elected Warren Lichtenstein as chairman of the board, replacing I. Gary Bard. At the same time an undisclosed number of managers in the Telemetry division resigned including the division president. The company stated that the resignations were a result of the refusal of the board of directors to sell the Telemetry division to the managers. The company contends that the resignations will not hurt the divisions's operations. Lichtenstein, a recently elected member of the board, is managing partner of the investment firm, Steel Partners II. .

Other Electrical Equipment and Component Manufacturing, Military Electronics, Aydin Corp. (Horsham, Pennsylvania), AYD

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Dealing autos a matter of scope for Montco firm

Article Abstract:

Asbury Automotive Group Chairman and CEO Tom Gibson founded the national auto dealership in 1995 with the help of $100 million each from Freeman Spogli and Ripplewood Holding Co. Gibson's objective was to improve the distribution process of vehicles to match the significant development in the manufacturing of cars and trucks in 50 years. Gibson believed that significant cuts in distribution costs including advertising, incentives, sales commissions and shipping, will result in savings for the dealer and the customer.

Comment:

Chairman and CEO Tom Gibson founded the national auto dealership in an effort to improve the distribution process of vehicles

Motor Vehicle Dealers, Motor Vehicle and Parts Dealers, Automotive dealers, Asbury Automotive Group Inc., Article

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