Anderson Independent-Mail from Anderson, South Carolina • 19

ID Wednesday Dnoember 6 2006 Anderson Indupondont-Mail IndtipondontMoiLoom DOW A 4775 1233160 NASDAQ A 399 245238 SUSN A 564 141476 NYSE VOLUME 2793560770 OREEMVILLE Michelin feeling pressure Asian imports cutting into American tire marker TO CONTACT US Mail your business news and photo to the Anderson Indcpondont-MaO Attention: Heidi Cenac 1000 Williamston Road Anderson 8C 29621 orje-mail three to four the cost of rubber has Increased 54 per cent In the past year alone At Michelin the increased cost of raw materials has created nearly $2 billion in additional manufacturing expense in the past three years Me Micali said The company has been able to pass some of that expense on to customers but the market bear foil cost he said Tireplantsaredosingacrossthe country Just this year Goodyear Co announced plans to close its Tyler Texas tire plant eliminating 1100 jobs Continental Tire said it will halt production indefinitely In Charlotte NC ending jobs for most of foe 1000 union workers But Michelin is committed to continuing its North American manufacturing operations long term Mn Micali said The compa- BYHEIDI CENAC Anderson Independent-Mail Greenville Asian Imports are cutting Into the American tire market and even the most profitable tire maker is feel their impact The numbs' of tires imported into the United States has grown 60 percent in the past five years and is expected to increase by another 37 million by 2011 Michelin North America president Jim Micali told reporters atamedia event Tuesday The increased competition from low-cost Asian Imports comes at the same time tire makers are feeing rising raw-materials costs Me Micali said The North American car and lighttruck tire market has dropped four percent since 2005 and foe commercial truck replacement tire market is down 5 percent This has not been an easy year for tire he said Michelin North America has seen the cost of raw materials has increased steadily over the past 19 manufacturing plants employ 22300 people Michkin North America Is headquartered in Greenville where it built its first tire manufacturing plant The company employs more than 6000 Upstate workers at facilities in Sandy Springs Starr Greenville Laurens and Spartanburg Michelin has invested about $500 million in its North American facilities over the past two years which includes Increasing semifinished manufacturing capacities in its two Anderson County facilities to supply growth In earth-mover tire production at the tire plant in Lexington Other South Carolina' facilities are also seeing improvements The company purchased equipment for its Greenville plant which makes car andlijdit track tires and added production of its One tires to its Spartanburg plant which makes large truck tires Michelin cost-cutting strategy includes implementing best prac tices and reaching a new labor agreement with unions at three of Its North American plants The company also is reducing the workforce at its BF Goodrich plant In Opelika Ala and is closing the tire plant in Kitchener Ontario Michelin also is speaking up about the value it brings that Aslan competition At least three of the nine company officials who spoke with the media Tuesday touted the 48 JH Power and Associates awards between Its Michelin and BE Goodrich brands For too long Michelin officials thought that because they made a good product it should sell But not always the case and the company is realizing that it needs to better communicate the value of its products said Pascal Couasnon vice president of marketing for Michelin Americas Small Tires Heidi Cenac can be reached at (800) 88M397 ext 248 or by e-mail atcenacheIndependentMalLcom Productivity growth slows the July-September quarter the Commerce Depart-ment said Tuesday That was slightly better than the zero change reported a month ago Wages and benefits per unitof output increased at an annual rate of 23 per- cent in the third quarter much slower than the 38 percent advance previously estimated BY MARTIN CRUTSINGER The Associated Press Growth in worker productivity slowed sharply in the summer while wages and benefits rose at arate that was far below a previous estimate a development likely to ease inflation worries at the Federal Reserve Productivity edged up at aO2 percent annual rate in BUSINESS BRIEFS HEW TORE Stocks rally for second straight session Wall Street rallied for a sec- ondstraight session Tuesday after easing wage pressures and stronger-than-expected service sector activity raised prospects that the economy could cool gradually and leave room for the Federal Reserve to lower interest rates next yean The Dow Jones industrial average rose 4775 or 039 percent to 1233160 A 25 percent in-crease from Coca-Cola Co and a25 percent rise from WaltDis-ney Ca helped the Blue chip average Broader stock indicators also rose The Standard 500 index gained 564 or040 percent to 141476 The index hit a six-year high of 1415J27 The -Nasdaq composite index was up 399 or 016 percent at 24528 HEW TORS MySpace database to help block sex offenders The popular online hangout MySpace said Tuesday it will develop technologies to help block convicted sex offenders the latest attempt to address complaints about sexual predators and other dangers to teens MySpace is partnering with Sentinel Tech Holding Corp to build and deploy within 30 days a database that will contain the names and physical de--scriptions of convicted sex of-' fenders in the United States An automated system will search for matches between the database and MySpace user profiles Employees will then delete any prafilesthqjt match HEW YORK Service sector grows at quicker pace Shaking off some effects of the housing slump the service sector of foe US economy grew at a quicker pace in November than in the previous month and fester than analysts expected The Tempe Ariz-based Institute for Supply Management reported Tuesday its index of activity in the service sector rose to 589 in November from 571 in October PHILADELPHIA Toll Brothers earnings fell 44 percent Luxury home builder Toll Brothers fourth-quarter earnings fell 44 percent but the MARKETS A EXCHANGES NONFERROUS METALS NEW YORK-Spat HMtorewiMte prim hn Mumkun-uparkLLaHdMlMM GdhlNL Cappir-fUUOCingdlMpMIU and Urea 1-2 560-1345 fesyouigtoialddk --0te com bad Manatee $JMMBJi ate sand and Median 7S5-U65 tea young to adddlute ten SredMmontei BOLOMSgjgoaachiOoaiClVntecSnnlte Late 1-2 746-1100 fesyouagtoadddt are -oowwiteiHzitacteaiinss-iejg pspHalraPBR MOIIQb mMI8I8mIR HUJLSANCYA The Associated Prea Nicole Nason administrator of the National Highway Traffic Safety Ad- ministration speaks during General Motors Corp unveiling Tuesday of a new $10 million crash test facility that will help the automaker study rollover crashes in Milford Mich General Motors makes rollover protection standard for models Cappar $32346 KY Marc teat lie LMd-MjAr metric to Loado Matt -Ml ZSk par a detrend tray otNV Mere la My (M-tr quota Payot NX Mare ipotllNi 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Carp will make side curtain air bags which in 2005 accounted for about 4 per-that protect people in rollover crashes centcf all crashes but33percentaf those SC FARM REPORT Conk SC iucSdm on Mood Mr drat Itedfan aad Largo 1-2 4SKSS fee $300-11100 fcaCJd-UUUFtedg Sedan teMOOfci OOJO-UMO500-tOOI74JMUt StougMercoMS Satan 0MSN 050-1400 bi4UMMlkhlghdraralng5MKU0t' -laaaMOKBS-UOOItaSUMlSXlM teaming IB BOS SterScwreltedSw occupants of passenger vehicles killed on the highways new facility indudes a 120-foot bay of lights which canmovefram27feet above to within one foot of the floor and articulate to 80 degrees allowing better illumination of the crashes thatare captured on high-speed video for analysis standard equipment on all vehicles by the 2012 model year the automaker announced Tuesday The announcement was made as GM unveiled a new $10 million crash test facility in suburban Detroit that will help it study rollover crashes GM said It planned to perform 150 San WHY NTS GCNINK KNOCK-Off WHIN TON CM SUM ON UK NUi IMHO ION USE vdimnm WESTMINSTER Ingles official confirms new store a MMum (mg) I'M Coupons PutdHiscYpyrxfll GrA Lpvetl Qnrj ifl Ptictiil Heti 0ift Nr Christmas! OKAS0KST0 BUY FNOM US 7RIIiMnI(8M i7KimNl(NSM4 i7MiMi8LU) YMiMteMrarr' IfctpMhM krMsRsfbtetel Caaiatltatlwelw 0 htttta fte falnlde busts li tar ttofct imfcJ of stabilization in the slumping housing sector and raised its forecast for first-quarter home deliveries Robert Toll the chief executive officer told analysts Tuesday that appears ofT the bottom or a level above in some markets AD8DRH HILLII MICH top sales executive resigns Joe Eberhardt top sales executive will leave the company to run his own Mercedes-Benz dealership DaimlerChrysler AG said Tuesday Me Eberhardt the Chrysler Group's executive vice president of global sales marketing and sendee made the decision to leave the company and is negotiating for his own dealership Chrysler spokesman Jason Vines said From wire report Ingles has 197 stores in six states including Oconee County stores in West Union and Seneca Ingles has about 16000 employees Mn Smith said the store would fit well with other projects for the city including the new West-Oak Middle School and a new 500000-gallon water tower on SC 1L Sandra Powell executive director of the Westminster Chamber of Commerce said many area residents have traveled as fer a8 Toccoa Ga and to West Union or Seneca to buy groceries This week Ingles announced higher sales and net income for the fourth quarter and fiscal year that ended Sept 30 It is 42nd consecutive year of sales growth Mr Freeman said 2006 net income is the highest in history" he said For the 2006 year net income increased 60 percent to a record 5426 million driven by a 149 percent increase in sales to a record $261 billion compared with fiscal 2005 results David Williams can be reached at (SM) 882-0622 or by e-mail at wiUiamsdt SlndependeniMaiLcom BY DAVID WILLIAMS Anderson Independent-Mail After more than a year without a grocery store Westminster officials mind waiting a little longer knowing one could be on the way An Ingles official confirmed Monday that the grocery chain hopes to open a store in 2007 Ingles recently purchased the 576acre site of the former Winn Dixie store on US 123 in Westminster for $16 million from Lafayette Life Insurance company of Lafayette Ind Winn Dixie began bankruptcy proceedings in February 2005 and closed the Westminster store in August 2005 "Everybody is said David Smith Westminster city administrator will beagood utility customer for the city and should stimulate the overall Ron Freeman chief financial officer for Ingles Markets Inc said an opening date would depend on weather and otb-er variables we get closer to opening we don't have many details on employees hours and other aspects of how the store will Mn Freeman said ri-UllUlWaiisI luaHMAMSl WAwm I I ilMNOOnWMl MMM0NNS nri'Miw S42iiM M-2UU22 WM fr Vi utetettea5htNSH mt.