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ORWIGSBURG, Pa. — Preferred Warranties, Inc. (PWI), a business unit of KAR Auction Services, has named Brian Cosgrove as president. Cosgrove joined PWI as vice president of marketing and sales in January 2014 and brings to his new role nearly 30 years of experience in leadership, management, business development, sales and marketing. “I am honored ... Read More »
Read More →HOLLYWOOD, Fla. — Organizers of Compliance Summit 2014 announced that the inaugural event drew a large, engaged crowd to the Seminole Hard Rock Hotel and Casino in Hollywood, Fla., this week. David Gesualdo, show chair and publisher of Auto Dealer Monthly and F&I and Showroom, said interest in the Florida conference, which will be followed ... Read More »
Read More →NEW YORK — Financial services firm Perella Weinberg Partners announced this week that it will merge its two subprime auto finance sources, Flagship Credit Acceptance and CarFinance Capital, into a single, national automotive finance company. The combined company will have total assets in excess of $2 billion. “Since forming Flagship and CarFinance, we have been ... Read More »
Read More →Representatives of Takata Corp, Chrysler Group Llc, Honda Motor Co Ltd and the National Highway Traffic Safety Administration will testify before the U.S. Senate Commerce Committee on Thursday to answer questions about the dangers posed by air bags supplied by Takata, reported Reuters. The final witness list, provided by a Senate aide, includes Hiroshi Shimizu, ... Read More »
Read More →In his first public comments since parting with the automaker, former General Motors engineer Raymond DeGiorgio defended his role to the New York Times in what he referred to in internal documents as the “switch from hell,” according to MLive. He’s referencing a defective ignition switch found in smaller-model GM cars that has been linked ... Read More »
Read More →The deadline to file claims under General Motors Co’s faulty ignition-switch compensation program has been extended by one month to Jan. 31, said Kenneth Feinberg, the program’s administrator, reported Reuters. Feinberg’s office on Monday updated its list of claims submitted, saying it had approved compensation for the families of 33 victims killed in GM cars ... Read More »
Read More →Ford Motor Co. said Tuesday it will recall 65,000 new Ford Fusion cars in North America because they could roll away, reported The Detroit News. The Dearborn automaker said the recall covers 56,500 2014-15 Fusion cars in the United States and about 8,500 in Canada and Mexico because the key can be removed 30 minutes ... Read More »
Read More →COLLEYVILLE, Texas – Justin B. Gasman, finance director for McCaddon Cadillac Buick GMC in Boulder, Colorado, passed the Association of Finance & Insurance Professionals (AFIP) Master Certification Exam with high marks, topping off a year of achievement. His dealership was nominated for F&I and Showroom’s “2014 F&I Pacesetter Dealer of the Year,” and he was ... Read More »
Read More →ORLANDO, Fla. — Billy Jackson has joined US Equity Advantage (USEA) as a regional account manager. He is responsible for servicing the company’s biweekly loan program for dealership partners in Arkansas, Colorado, Kansas, Louisiana, Missouri, Nebraska, New Mexico, Oklahoma and Texas. Jackson has a decade of F&I experience. Most recently, he directed the F&I departments ... Read More »
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