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Wednesday, 28 February 2018 22:49

NIADA Partners with Finance Firm

Nicholas Financial, Inc. has joined with the National Independent Automobile Dealers Association as a Bronze-level National Corporate Partner. With local branch offices in every market Nicholas services, the company has the ability to tailor lending and purchasing guidelines to the specific needs of each dealer partner. Nicholas strives to conduct up-front investigations and customer interviews so dealers know the approvals they get are solid. That allows Nicholas to provide some of the fastest funding in the industry.
Published in News Now
Monday, 26 February 2018 23:13

CarMax Expands in Colorado

CarMax, Inc. celebrated the grand opening of its 4th store location in the Denver area, located at 16500 W. Colfax Avenue in Golden, Colo. The Golden location has the capacity to stock approximately 200 used vehicles.In celebration of the Golden store opening, CarMax and The CarMax Foundation awarded $7,500 in donations and grants to the Jefferson County Boys & Girls Club. The donation for this organization came at the recommendation of the Golden CarMax associates.
Published in Latest News
Monday, 26 February 2018 01:01

ADESA Names Top Execs

ADESA announced that Paul Lips will take on the newly created position of chief commercial officer for ADESA and Srisu Subrahmanyam will join the ADESA senior management team as chief operating officer. In his new role, Lips will be responsible for simplifying the ADESA customer experience and coordinating business development efforts with the marketing, sales and client relationship teams. Lips has held a variety of management roles since joining ADESA in 1996, including corporate controller for ADESA’s finance department, chief financial officer, vice president of investor relations and planning, and senior vice president of operations. Lips served as executive vice president of operations and finance before taking the previous role of chief operating officer in 2016.Taking over as ADESA chief operating officer, Subrahmanyam will lead the strategic growth and development of the U.S. auction operations group. He previously held the position of senior vice president of business transformation for parent company KAR Auction Services and was responsible for overseeing organizational optimization.Subrahmanyam and Lips will report to John Hammer, newly named president of ADESA.
Published in Auctions
Monday, 26 February 2018 01:01

CarMax Announces Bonuses

CarMax, Inc. announced plans to provide one-time bonuses to most hourly and commissioned full- and part-time associates as a result of the recently passed Tax Cuts and Jobs Act of 2017. Bonus amounts will vary from $200 up to $1,500 based on length of service with the company.About 80 percent of associates will receive the bonus, which will be distributed in March.
Published in buy here
Thursday, 22 February 2018 03:56

Nicholas Financial Names Interim CFO

Nicholas Financial Inc. announced that Chad Steinorth will be rejoining the company as vice president and interim chief financial officer, effective March 1. Steinorth originally spent 13 years with Nicholas Financial, from November 1993 to November 2006, holding several positions including controller and vice president of finance.  Since then, Steinorth ran his own local auto finance company in the Tampa Bay area before selling it in 2016.  Steinorth most recently served as vice president of finance at Platinum Auto Finance.  Steinorth will serve as the interim chief financial officer while the company completes a search for a permanent replacement.  Once that replacement is named and installed, Steinorth will remain with Nicholas Financial and assist with other special projects and initiatives.
Published in Finance
Wednesday, 21 February 2018 14:08

Small Businesses Plan for Expansion

The National Federation of Independent Businesses’ Small Business Optimism Index jumped two points to 106.9 in January and set a record with the number of small business owners saying Now Is a Good Time to Expand.Now Is a Good Time to Expand registered at 32 percent, the highest level in the history of the NFIB survey, which began in 1973. Actual Earnings climbed up 11 points from December, the highest level reported since 1988. As small business owners struggle to find qualified workers for open positions, reports of higher worker compensation rose four percentage points to a net 31 percent, the highest reading since 2000 and among the highest in the 45 years of NFIB’s survey. Plans to raise compensation also rose one point to a net 24 percent, the highest reading since 1989. 
Published in Dealers
 MetroGistics has been selected by the National Independent Automobile Dealers Association as a Bronze-level National Corporate Partner. MetroGistics will offer preferred pricing on vehicle moves, along with extended credit, to the more than 16,000 NIADA member dealerships. The St. Louis-based company has a network of more than 4,000 vetted carriers across the country. In December, MetroGistics acquired Metro Title Services, the national leader in title and registration services, working with more than 2,200 government-licensing jurisdictions across all 50 states and Canada. 
Published in Finance
Friday, 16 February 2018 14:06

Cox Automotive Promotes Logistics VP

Cox Automotive named Jim Williams to senior vice president of logistics for inventory solutions. Williams will transition into the leadership role held previously by Patrick Brennan who was promoted to senior vice president of inventory solutions’ marketplace. As of March 1, Williams will report to Grace Huang, president of Cox Automotive Inventory Solutions, and soon relocate to Gilbert, Ariz., to oversee Manheim’s Ready Logistics and Central Dispatch.
Williams joined Manheim in 2014 as vice president of operations support. Before that, he was responsible for strategic development with Premium Retail Services and held several senior sales and operations positions with Best Buy.
Published in Auctions
Friday, 16 February 2018 14:06

CarMax Makes Fortune List

For 14 consecutive years, CarMax Inc.  has been named by Fortune magazine as one of its 100 Best Companies to Work For. This year, CarMax ranks No. 34.CarMax is now offering four weeks of paid parental leave for hourly and salaried full-time associates following the birth or adoption of a child. This parental leave applies to both non-birth and birth parents. Birth mothers are eligible to add the four weeks of paid parental leave at the end of their approved six to eight weeks of paid medical leave.Additionally, CarMax associates will enjoy the enhanced benefit of additional vacation time based on length of service. The company will continue to look for opportunities to provide pay and benefits for associates in the areas that are important to them.
Published in buy here
Thursday, 15 February 2018 02:41

PassTime Partners with Payment Processor


Repay – Realtime Electronic Payments, a provider of payment technology products and processing services, announced a new partnership with PassTime.
After consumers submit an electronic payment to the dealer or finance company, Repay immediately processes the payment and automatically sends a message to the merchant and PassTime. The PassTime device receives the wireless command to reflect the current status and the merchant's customer management system is updated with the most recent payment information.

Published in buy here
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