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Friday, 10 November 2017 02:49

Copart Adds Auction

Copart Inc. announced the expansion of its Phoenix location.Copart Phoenix is located at 615 South 51st Ave. The auction holds online car auctions every Monday at noon. In addition to conducting online auctions, Copart practices good corporate citizenship. Earlier this year, Copart Phoenix provided a safe and controlled training environment for more than 100 National Highway Traffic Safety Administration inspectors.
Published in Auctions
Friday, 10 November 2017 02:49

More Small Businesses Add Staff

Small business jobs activity rose in October, with more owners trying to hire workers amid labor quality concerns and compensation increases rising to their highest levels since December 2000, according to the monthly NFIB Jobs Report.Fifty-nine percent of small business owners reported hiring or trying to hire in October, but 52 percent said they couldn’t find qualified workers. Twenty percent of small business owners said finding qualified workers was their number one concern.Reports of increased labor compensation remained at strong levels, with twenty-seven percent reporting compensation increases and twenty-one percent of the owners planning to raise compensation in the coming months.
Published in Finance
Thursday, 09 November 2017 00:16

Cars.com Reports Lower Dealer Count

Cars.com Inc. saw its dealer customer count decline in the third quarter, dipping to 21,307 from 21,465 in the second quarter.Average vehicle listings were 4.9 million, up 6 percent year-over-year.Revenue was $159.9 million in the third quarter, down 1 percent year-over-year.Net income was $21 million.Average monthly unique visitors for Cars.com was up 3 percent year-over-year. But total traffic declined 1 percent to 101.7 million.Mobile traffic grew 8 percent year-over-year and accounted for 59 percent of total traffic compared to 54 percent in the third quarter of 2016.
Published in Dealers
Thursday, 09 November 2017 00:16

Firm Expands Online Reach

After a 6-month pilot with Retail Automotive Alliance (RAA), a leading motor dealer group across the UK, Integrated Auction Solutions has launched a countrywide customized RAA MarketPlace. This includes a native iOS and Android applications, which allows vehicles to be traded and sold with any mobile device. The RAA group plans to initially sell inventory internally with this system, then move to a full retail application - selling part exchange vehicles (trade-ins) and frontline inventory to the open market with real-time offer technology.
Published in Tech News
Wednesday, 08 November 2017 00:54

Manheim Names General Managers

Manheim announced the selections of Noel Kitsch as general manager of Manheim Georgia and Joey Satfield as general manager of Manheim Fort Myers.  
Kitsch joined Manheim in 2001 as a dealer sales representative and went on to various roles with increasing responsibility within the company.  He was most recently the senior assistant general manager at Manheim Central Florida. Kitsch has a proven record of building strong customer relationships, including acting as both the assistant general manager and dealer services manager at Manheim Orlando as well as serving in the assistant general manager role at Manheim Dallas.  
Satfield joined Manheim in 2013 as a field sales representative at Manheim Lakeland.  He most recently served as assistant general manager at Manheim Kansas City, where he worked in partnership with clients to help them take advantage of the full line of Cox Automotive products and services to improve their business.  Prior to this role, Satfield served as dealer services manager at Manheim Orlando.
Published in Auctions
Monday, 06 November 2017 18:15

Hiring Challenges Small Businesses

Following the largest increase in a decade, small business optimism held steady in the fourth quarter, according to the latest Wells Fargo/Gallup Small Business Index. The Index is based on a survey conducted October 2-6. In the quarterly survey, which measures the optimism of small business owners, the overall Index score dipped slightly to 103 in October – down from 106 in July when it was the highest Index reading in a decade. A contributing factor to the three-point decrease was how business owners evaluated their current finances. Seventy-one percent rated their financial situation today as very or somewhat good in October, down five percentage points from 76 in July. Despite this slight decline, business owners’ financial situations remain at pre-recession levels. In October, business owners were asked to identify the most important challenge facing their businesses today. Sixteen percent said hiring and retaining quality staff is their top concern, up from 13 percent last quarter and the highest reading on this measure since the question was added to the survey in 2013. While hiring is a top challenge, 32 percent of business owners reported plans to increase the number of jobs at their business in the next year – the second highest percentage in the 14-year history of the survey.
Published in Dealers
Monday, 06 November 2017 18:15

Progressive, Partners Supply Vehicles

Progressive Insurance has partnered with several firms, including Enterprise Rent-a-Car, Copart and KAR Auction Services, so that more than 100 veterans and their families will be getting keys to newly refurbished vehicles this month. The donation is part of Progressive's fifth annual Keys to Progress event. This year, Progressive will donate its 500th vehicle. The vehicle giveaways will occur Nov. 9 at 68 locations across the country.
Published in Tech News
Sunday, 05 November 2017 19:03

NABD Honors PassTime Founder

Stan Schwarz, PassTime’s late co-founder and CEO, was inducted into the BHPH Hall of Fame during the recent National Alliance of Buy-Here, Pay-Here Dealers conference in Orlando.Schwarz, who passed away in March, was a pioneer in the industry, founding PassTime along with Jake Frank in 1992.Ryan Schwarz, PassTime’s vice president of sales, accepted the award on behalf of his father.
Published in Auctions
Tuesday, 31 October 2017 21:13

CarMax Shuffles Operations Execs

CarMax Inc. announced that Cliff Wood plans to retire as executive vice president and chief operating officer by the end of the summer of 2018 and will be succeeded by Ed Hill, currently CarMax’s executive vice president of strategy and business transformation.Hill was promoted to executive vice president, strategy and business transformation in 2016. He joined CarMax in 1995 as director of service operations and progressively advanced to senior vice president, assuming leadership for CarMax’s corporate strategy in 2012. Prior to joining CarMax, he served in operational roles for several technology companies.CarMax also announced that, effective Nov. 1, two additional executives will be promoted. Darren Newberry will be promoted to senior vice president of store operations, and Joe Wilson will be promoted to senior vice president of store strategy and logistics.Newberry was promoted to vice president of regional sales in 2016, responsible for the field sales organization through the 11 CarMax regions. He joined CarMax in March 2004 as location general manager-in-training in the Los Angeles region and was promoted to location general manager of the Duarte, Calif. store in 2006. He was promoted subsequently to positions of increasing responsibility, including regional vice president general manager of the Baltimore region in 2013 and the Los Angeles region in 2014. In his new role, he will lead the field operations for the sales, service and merchandising organizations.Wilson was promoted to vice president of merchandising operations in 2016. He began his career at CarMax in May 1995 as a buyer-in-training at the Raleigh, N.C. store, where he was subsequently promoted to buyer and then senior buyer.Wilson later served as purchasing manager at two CarMax stores in southern Florida before being promoted to regional vice president of merchandising. He was promoted to assistant vice president of auction services and merchandising development in 2008 and then vice president of auction services and merchandising development in 2013. In his new role, he will lead field strategy, including auction business and logistics.
Published in Dealers
The Conference Board Consumer Confidence Index, which had improved marginally in September, increased again in October. The Index now stands at 125.9, up from 120.6 in September. Consumers’ outlook for the job market, however, was somewhat less favorable than in September. The proportion expecting more jobs in the months ahead decreased marginally to 18.9 percent from 19.2 percent, however, those anticipating fewer jobs declined to 11.8 percent from 13 percent. Regarding their short-term income prospects, the percentage of consumers expecting an improvement decreased marginally to 20.3 percent from 20.5 percent, however, the proportion expecting a decrease declined to 7.4 percent from 8.6 percent.
Published in Finance