Not long after announcing its plans to become a corporation, Carfinco Income Fund revealed its new chief operating officer earlier this week, appointing current chief financial officer Troy Graf to the role. Replacing Troy Graf as CFO is Stephen Dykau, who has been with Carfinco since April 2009, when he joined as vice president of […] [Read More]

In the first good news Saab has received in quite a while, Swedish Automobile N.V. revealed Wednesday it received approval for a reorganization that aims to secure short-term stability while the automaker searches for additional, consistent funding. Swedish Automobile and Saab Automobile announced they received approval from the Court of Appeal in Gothenburg, Sweden for […] [Read More]

Thanks to a ruling on Tuesday by the Federal Reserve Board, dealers — just like lenders — will have a little more breathing room to get their ducks in a row for the data collection requirements under the Dodd-Frank Wall Street Reform and Consumer Protection Act. The Fed amended Regulation B on Tuesday, meaning that […] [Read More]

Through a partnership with Business Valuation Resources, officials from insideARM.com are offering reports that include financial data on more than 1,600 collection agencies and 85 law firms. The site highlighted this data that had not previously been available about the industry is being generated by BizMiner, a firm that provides tens of thousands of financial […] [Read More]

In an effort to aid residents affected by the recent wildfire that swept through Bastrop County during the past few weeks, Auto Remarketing learned the Texas Department of Motor Vehicles, Vehicle Titles and Registration Division and various lenders are planning to offer services that will speed up the insurance claim process on vehicles totaled or damaged. As […] [Read More]

At least one OPENLANE shareholder isn’t happy the company is being sold to KAR Auction Services, according to his class action lawsuit filed in Delaware state court last Friday. A member of Auto Remarketing’s group on LinkedIn pointed to a report on Law360.com that included many strong comments by plaintiff William Treadway. Treadway contends KAR’s proposed $210 […] [Read More]

Avis Budget Group confirmed Wednesday in its latest filings with the Securities and Exchange Commission that it will no longer pursue a $1.5 billion acquisition of Dollar Thrifty Automotive Group. As to the reason why, Avis officials stated, “We have made significant progress toward obtaining U.S. regulatory clearance for the acquisition of DTAG, and we […] [Read More]

Hertz Global Holdings still wants to make a deal with Dollar Thrifty Automotive Group. So late last week, Hertz again announced it extended the expiration date of its exchange offer for all outstanding shares of Dollar Thrifty. The offer is for $57.60 in cash and 0.8546 shares of Hertz common stock. Hertz indicated the exchange […] [Read More]

The brand-new Re3 Conference — Recovery, Repossession and Remarketing — will tackle a key topic for the repossession industry with its second panel discussion. The session, titled “Selling Repos Directly from Agent Lots: The good, the bad, and the opportunity,” will feature: —Brent Huisman, vice president, asset remarketing, Santander —Zach Hallowell, business line director, OPENLANE […] [Read More]

Streamlining data analysis for an industry not accustomed to such a process is taking the American Recovery Association and Subprime Analytics a little more time than they originally anticipated. But what’s being organized — ARA’s second-ever Industry Scorecard — has executive director Les McCook and Subprime Analytics president Ken Shilson greatly excited about the project’s […] [Read More]