KAR Auction Services revealed on Wednesday the date of its 2011 annual meeting of stockholders. The meeting will take place on May 12. KAR indicated that it will nail down the meeting’s time and location and include that information in the proxy materials. Furthermore, KAR also finalized the record date for determination of the stockholders […] [Read More]

In what could raise a few eyebrows and the ire of the repossession industry, another cable TV network is planning a television show that presents what many may view as misrepresenting how typical repo cases are resolved. Reportedly the producers of Jersey Shore are rolling out a show that is supposed to follow a pair of […] [Read More]

The American Recovery Association and Subprime Analytics are teaming up again to compile the second phase of the recovery industry scorecard. This phase is set to include repossession agency data from Jan. 1 to Dec. 31, 2010. The association explained that this industry scorecard is an independent performance analysis derived from data records that can […] [Read More]

The National Automobile Dealers Association announced that Ally Financial will use vehicle pricing information from NADA Used Car Guide when underwriting consumer auto contracts in 38 states. The change is effective immediately. Ally executive vice president of North American Operations Tim Russi explained that the move is designed to help dealers sell more used vehicles […] [Read More]

Auto Remarketing learned Wednesday that Mercedes-Benz USA has rolled out new certified pre-owned extended limited warranty options this week that can further help dealers emphasize the quality in the automaker’s lineup. Previously, the warranty packages in the automaker’s CPO program had a limit of 100,000 total vehicle miles, manager of pre-owned operations Scott Penza explained. He noted that […] [Read More]

Perhaps in response to some of the turmoil the automaker experienced over 2010, Toyota Motor Sales USA revealed Tuesday afternoon that it has given two groups of managers the opportunity to accept voluntary exit packages. The automaker said it doesn’t have an exact goal as far as the number of managers it wants to take the […] [Read More]

The American Recovery Association recently revealed a former AmeriCredit executive will present the keynote address during the third annual North American Repossessors Summit. Tapped to speak to the gathering of auto lenders and recovery professionals is Mark Floyd, who now is the chief executive officer and vice chairman of Exeter Finance. ARA explained Floyd intends […] [Read More]

Dealer Services Corp. of Indiana has rolled out a revamped, upgraded website that it says is more interactive and is geared more toward the customer. It offers 24/7 online account service access, more reporting capabilities, and its navigation and layout is smoother. “Our redesigned website enables DSC to provide our dealers with up-to-date information across […] [Read More]

Acknowledging significant improvement in its business performance, General Motors announced it is withdrawing its $14.4 billion application for direct loans from the U.S. Department of Energy. Normal 0 false false false EN-US X-NONE X-NONE /* Style Definitions */ table.MsoNormalTable {mso-style-name:”Table Normal”; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:””; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin-top:0in; mso-para-margin-right:0in; mso-para-margin-bottom:10.0pt; mso-para-margin-left:0in; […] [Read More]

Innovative Funding Services — via services arm Hourglass Management Corp. — announced this week that it has brought in TPC Management Co. as a consultant to the network’s companies. Composing that network are IFS, Flexco and eFleet Direct. “We are very excited to have TPC leveraging their extensive network to help us reach companies that […] [Read More]