Under the leadership of its new president and chief executive, Alan Feldman, formerly of McDonald's Corp., Midas, the Itasca-based automotive retailer and operator of 1,900 North American maintenance shops is seeking to return to profitability by reinventing itself as a full-service automotive franchise, according to the Engelberg Medill News Service on July 8. Feldman is banking the future on four initiatives to ignite same-store sales by expanding the customer base, one of which is the launch of a national fleet service in 2005. Another initiative is into the tire market. On May 1, Midas franchises became official dealers of Bridgestone-Firestone tires. "Tires are an untapped market for us," said Bob Troyer, a company representative. "Our research has shown that 20 percent of our customers are in need of tires when they come into our shops for other reasons."

Originally posted on Fleet Financials