Nasdaq drops Hometown
WATERTOWN, Conn. - The Nasdaq last week dropped Hometown Auto Retailers from its listings because the stock price was too low.
Hometown stock was 63 cents a share on its last day of trading - higher than the 31-cent low last December but down from its March 2000 high of $9.44.
Hometown on Feb. 9 removed its chairman, Salvatore Vergopia, and vice president for fleet operations, Edward Vergopia, for alleged mismanagement.
Reuters news service reported that the dismissals prompted the two to file a civil complaint against the company.
Hometown owns 10 franchised dealerships in the Northeast.
Jaguar X-Type is $29,950
MAHWAH, N.J. - The new all-wheel-drive Jaguar X-Type sedan will have a manufacturer's suggested retail price of $29,950 when it goes on sale in the United States this summer.
The figure does not include the destination charge, which Jaguar Cars Inc. said has not been set. The freight fee on other Jaguars is $595. The base model will have a 2.5-liter, 194-hp V-6.
Still to be priced is a 3-liter, 231-hp V-6 model.
The X-Type is Jaguar's first awd model.
The next step up the Jaguar price scale is the S-Type sedan at $44,250, which includes freight charges.
BMW wants to build in China
SINGAPORE - BMW AG said it and partner Brilliance China Automotive Holdings Ltd. will submit a proposal to the Chinese government to assemble cars in China.
Luder Paysen, BMW senior vice president of sales, said at a briefing for journalists here that the proposal would be submitted in the next few weeks. 'We believe that now is the right time,' he said. Paysen declined to elaborate. A China facility would be BMW's sixth in Asia.
Autoliv chairman to retire
STOCKHOLM, Sweden - Dr. Gunnar Bark, board chairman at safety system supplier Autoliv Inc., plans to retire April 24.
Bark, 61, originally resigned from his position as CEO of Autoliv AB in 1996.
But when talks of a merger between Autoliv AB and Morton ASP surfaced that year, he postponed his resignation and became CEO for Autoliv Inc. He left the position in 1999.'Now that the new CEO is well established in his position, I can realize my plans and retire from the board as well,' said Bark, who has been chairman of Autoliv Inc. since 1997.
He will be replaced as chairman by S. Jay Stewart, 62, former CEO of Morton International Inc., the parent company of Morton ASP, and a member of Autoliv's board.
Autoliv ranks No. 24 on the Automotive News list of top 100 global auto parts suppliers with 1999 sales of $3.8 billion.