Financial

DETROIT — While rumors have recently circulated that General Motors is considering taking back a majority stake in GMAC, that no longer appears to be the case. Auto Remarketing confirmed Thursday that the automaker is looking to strike new lender relationships to drive sales and help dealers and apparently, Chase and Wells Fargo are two key […] [Read More]

MOBILE, Ala. — As long as one human has had a need or a desire to find another human, we have had skip-tracing. It is a process of tracking someone from point A to point B. Some of the most famous figures from our past come from the American West: The Pinkertons, Texas Rangers, Pat Garrett […] [Read More]

NEW YORK — Since mayor Michael Bloomberg and the city's department of consumer affairs rolled out broad guidelines for collection regulations that govern all industry segments, including recovery agents, a handful of organizations sought clarification to all of the measures. New York City received clarification inquiries earlier this month from ACA International, the Association of Credit […] [Read More]

TULSA, Okla. — In a move that officials say will help the company shore up its leasing capacity, Dollar Thrifty Automotive Group revealed Friday that its Rental Car Finance Corp. subsidiary completed a round of asset-backed financing that, once completely funded, will provide $300 million in additional fleet financing. Specifically, the subsidiary completed a private placement of Rental Car Asset […] [Read More]

LAS VEGAS — Among the many challenges facing independent dealers in today's automotive landscape, the two that Kathy Decker cited as most pressing were the availability of capital and being able to access retail financing. The group vice president of Manheim Financial Services talked with Auto Remarketing on Tuesday at the National Independent Automobile Dealers Association […] [Read More]

ELDRIDGE, Iowa — QCSA Holdings announced recently announced that two investors have joined its board of directors. New board members include Rick Keister, who will also serve as board chairman, and Cam Hitchcock. Keister is an entrepreneur that most recently served as the chief executive officer of Keystone Automotive Industries. Keystone led the aftermarket parts industry […] [Read More]

DETROIT — General Motors and Opel/Vauxhall have decided to withdraw all applications for government loan guarantees throughout Europe. Apparently, while the reasons behind asking for government guarantees has not changed, according to the company, the process of receiving assistance has been "more complex and longer than anticipated and the results are still not finalized or certain." […] [Read More]

TULSA, Okla. — I've been working in the insurance industry for more than 30 years and I've spent the last 12 years providing insurance to collateral recovery agents throughout the United States. Recently, I have seen a rise in lawsuits against recovery specialists for violation of certain state consumer protection acts as well as the Fair […] [Read More]

ALPHARETTA, Ga. — AmeriFleet Transportation, recently rolled out an enhancement of its complete asset recovery service with Prescription Drug Marketing Act certification. The corporate fleet logistics solution provider explained this new service is designed to meet the needs of customers requiring vehicle recoveries when there are pharmaceutical samples covered by the Prescription Drug Marketing Act and […] [Read More]

CARMEL, Ind. — Dealer Services Corp. of Indiana announced late last week that it has named a new chief operations officer to replace Brian Geitner, who became chief executive officer on Jan. 1. Appointed to the COO post was Shane O'Dell, a founding member of DSC who came aboard in 2005. His roles with the company […] [Read More]