Fed-Mogul's high road; new strategy propels auto supplier's stock. (Federal-Mogul Corp.)

Crain's Detroit Business, July, 1997 by Serwach, Joseph

New strategy propels auto supplier's stock Stock in Southfield-based Federal-Mogul Corp. (NYSE: FMO) hit a 52-week high last week as investors approved of the auto supplier's latest management and restructuring changes. The stock, which has risen 73 percent since the start of the year, went as high as $38.75 last week, more than $10 a share higher than its price May 22 when the company announced it was using New York-based Stern Stewart & Co.

as its adviser to implement an economic value added plan. The stock closed at $37.31 Friday. Stern has developed similar plans for such high-flying Michigan public companies as Muskegon-based SPX Corp., which had a 155.4 percent stock price increase between June 28, 1996, and June 30 of this year, and Zeeland-based Herman...

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