Auto Recycling eNewsletter

For immediate release -April 2004

Written and published by Ron Sturgeon, autosalvageconsultant.com, email to email Ron Sturgeon

To register for future free issues, visit http://www.autosalvageconsultant.com

Don’t forget to watch for our management articles monthly in Recyclers Power Source Magazine, or posted at our web site.

This Month’s News

Aftermarket Sales Up

As reported in Automotive News, aftermarket parts and accessories had sales of $28.9billion last year, up 7.7% from 2002. Are you getting your share?

Scrap Steel Prices Drop

Scrap steel registered its first drop in two years last month, registering a $30/ton decrease. China has been a heavy user, driving prices up worldwide, but demand from China has lessened recently.

LKQ Stock Steady

LKQ’s stock has been hovering in the mid $17 range now for a month or more. LKQ Corporation (NASDAQ:LKQX), will release its first quarter 2004 financial earnings results on Thursday, April 29, 2004 before 7:00 a.m. Eastern Time. To discuss the earnings results, the company will host an audio webcast that same morning at 10:30 a.m. Eastern Time (9:30 a.m. Central Time) on Thursday, April 29, 2004. The webcast can be accessed via the company's website at www.lkqcorp.com in the Investor Relations section. An online replay of the web cast will be available on the company's website approximately two hours after the live presentation and will remain on the site until May 29, 2004. [Source, LKQ press release]

Press Quote, from 1968

Sounds like this one missed the mark…

"With over 50 foreign cars already on sale here, the Japanese auto industry isn't likely to carve out a big slice of the U.S. market." - Business Week, Aug. 2, 1968

How’s Business?

"Knowledge is power, but enthusiasm pulls the switch."

Ivern Ball

Are You Paying Your Drivers Overtime?

Did you know that they are exempt from overtime premium pay, if they are involved in the safety of the truck and deliveries, AND they deliver any parts that complete an interstate transaction? (A brokered part being delivered from a vendor outside your state)

Here is an excerpt from the regs:

Requirements:

The Section 13(b)(1) overtime exemption applies to those employees for whom the Department of Transportation claims jurisdiction and if the employer is:

1) A private carrier and hauls property or;

2) A common or contract carrier and hauls property or passengers and additionally if; (a) the employee's duties (consisting wholly or in part) affect the safety of operation of a motor vehicle and;( b) the employee's travel is in interstate commerce (across state lines) or the employee handles trips which connect with an intrastate terminal (rail, air, water, or land) to continue an interstate journey of goods that have not come to rest at a final destination.

The exemption will apply to those employees called upon in the ordinary course of work to perform, either regularly or from time to time, safety-affecting activities. The employee comes within the exemption in all workweeks when he\she is employed in such work. This general rule assumes that the activities involved in the continuing duties of the job in all workweeks will include activities that affect safety of operation of motor vehicles. Where this is the case, the exemption will be applicable regardless of the proportion of "safety affecting activities" performed in a particular workweek.

For additional information, visit our Wage-Hour website: http://www.wagehour.dol.gov and/or call our Wage-Hour toll-free information and help line, available 8am to 5pm in your time zone, 1-866-4USWAGE (1-866-487-9243).

AutoSalvageconsultant.com was formed in 2001 to help recyclers improve their businesses. With over 50 years of experience in 3 staff members, the group is THE definitive source for recyclers’ management and training needs. Mike Gibson and Tammy Sturgeon joined the team in 2003, and bring a wealth of experience to the team, plus more resources, as there have been more requests for help than Ron could meet. The founder, Ron Sturgeon is past owner of AAA Small Car World. In 1999, he sold his six Texas locations, with 140 employees, to Greenleaf. In 2001, he founded North Texas Insurance Auction, which he sold to Copart in 2002. In 2002, his book “Salvaging Millions” was published to help small business owners achieve significant success, and was recently reprinted. In June 2003, he joined the new ownership and management team of GreenLeaf. He also manages his real estate holdings and investments. You can learn more about how to help your business at www.autosalvageconsultant.com He can be reached at 5940 Eden Drive, Haltom City, TX 76117, (preferably) email Ron Sturgeon or 817-834-3625 ext 6#.