If you ever get the chance to visit the offices of Auto Remarketing parent company S&A Cherokee, you may hear variations of the word “franchise” from time to time.
One reason is obvious: “franchised” dealerships are a big part of our reader base and news coverage.
Another: we’ve got quite a few football fans around here, so you may hear one or two of us mulling over whether our favorite pro team should have used that “franchise tag” on this player or that one.
But there’s a third reason.
We’re in the publishing business, where having a few “franchise” editions of the magazine each year can be quite beneficial. In other words, instantly recognizable hallmark issues you can expect year after year.
In our case, those would be editions like our Power 300, Women in Remarketing, Top 100 Used-Car Dealers and so forth.
That’s what we’re aiming to do with our “Best Auto Auctions to Work For” edition.
But we’ll need your help. And the clock is ticking: there’s just a month left for you to opt in and participate.
For individual auction locations to participate, the general manager/leader of that auction needs to opt in at this website,www.bestautoauctionstoworkfor.com, by April 22.
So, why participate? How do these “best places to …” programs benefit participants, and why have they gotten so popular?
To get a sense of that, Auto Remarketing talked with Peter Burke this winter.
Burke is the president of the Best Companies Group that Auto Remarketing has partnered with to manage the “Best Auto Auctions to Work For” study.
This isn’t their first rodeo — you may have seen similar studies that BCG has done in your area.
Burke shared some insight into how organizations participating in his company’s surveys have benefitted both from an internal/ human resources perspective and from an external perspective.
He said that organizations that choose to participate typically will do so for one of two reasons.
First, he said, companies that participate and end up earning the recognition tend to see a big impact when it comes to general marketing, recruiting and promoting their branding as an employer. That can lead to applications climbing and turnover dropping.
Second, it’s a chance to better understand the viewpoint of your employees and see how you stack up against your peers. To be clear, this Auto Remarketing-specific project is 100-percent free to participate, employees remain anonymous and there are no rankings.
Auctions that participate in the study will be provided a high-level digest of information gleaned by BCG. However, as an added-benefit, participants will have the unique opportunity to purchase the full “BCG Employee Feedback Report” from the Best Companies Group that outlines metrics like key confidential feedback and benchmarking data.
To learn more and opt in, visit www.bestautoauctionstoworkfor.com.
After moderating a few Used Car Week conference sessions, I'm going to try my hand at moderating a webinar.
Fortunately for this first go-round, I’ve got a solid co-pilot: Tom Webb, chief economist of Cox Automotive.
Tom is the type of source that journalists, particularly those of us in the auto business, love to interview.
You can ask him a question about nearly any auto industry or economic topic, especially the used-car variety, and he will have an answer that’s backed by research and a firm understanding of the topic. And they're often quite witty.
Expect the same when we host a webinar with Tom next week. In a free webinar scheduled for 2 p.m. (EST) on March 8, he will dissect the intricate trends impacting the used-car market and provide his unique perspective.
The webinar will also include a live Q&A session that I'll moderate.
So, if you have some questions for Tom ahead of time, send them to me at joverby@autoremarketing.com or tweet them to @AR_JoeOverby. Need ideas? The 2016 Used Car Market Report that Tom and his team at Manheim put together — and, of course, Auto Remarketing's news coverage and analysis — may provide some thought-starters.
Auto Remarketing will be running its semiannual Spotlight on Commercial Consignors in our March 15 print publication, but with some important changes to how the listings are being compiled.
If you are a commercial consignor and would like your company included in this FREE listing, you must provide all of the following to Auto Remarketing by Feb. 26 — even if you have previously provided it to us for prior editions:
- Name of company
- Address
- Telephone number
- Remarketing leader or contact person
- Headshot of that person
- Quote from that person on the importance of NAAA
- Company logo
- Number of vehicles you expect to remarket in 2016
This information should be sent to Auto Remarketing Staff Writer Josh Hyatt at jhyatt@autoremarketing.com by Feb. 26.
The Spotlight on Commercial Consignors is a FREE opportunity to share information about your company’s remarketing operation with auctions and dealers. It's a great chance to get in front of these folks and earn some well-deserved recognition.
However, if Auto Remarketing does not receive this information by Feb. 26, we cannot guarantee that your company will be included in the Spotlight on Commercial Consignor listing.
It’s that time of year again – Auto Remarketing is now officially accepting nominations for the Women in Remarketing Class of 2016.
Don't miss the opportunity to honor the exceptional women of the remarketing industry, who drive businesses such as auctions, consignors, dealerships, captive finance companies and more.
Do you work with a female colleague that deserves to be recognized? Or do you know any leading ladies in the industry?
Last year’s class, as seen above, was chock-full of some of the top leaders in the remarketing industry. And just like the last few years of this program, we need your help to make sure we continue to recognize the women that help drive the nation’s remarketing business.
The April 15 print and digital editions of Auto Remarketing will contain a special section designed to honor those women that will be chosen for its 2016 Women in Remarketing Class. The 2016 Women in Remarketing Class will also be honored at this year’s Used Car Week Conferences this fall.
The deadline for nominations is Friday, March 4, and we want to make sure to honor the deserving women throughout the industry.
So, do you know of someone who deserves to be on the 2016 list?
Here’s what you can do:
No matter what area of the remarketing business the female nominee comes from, she must have a history of going above and beyond the call of duty, whether through innovation, mentoring new professionals, philanthropy, education or more.
To nominate an executive, please email staff writer Josh Hyatt at jhyatt@autoremarketing.com with the following information:
1) Nominees full name, position, and full contact information, including a phone number and email address.
2) A brief summary as to why you think this nominee should be selected. What makes her stand out? Please note that your summary may be quoted.
Auto Remarketing will be contacting the final class of honorees for a brief interview and will be requesting a professional headshot, as well.
We will include a brief profile on each honoree, along with her professional headshot, in our April 15 edition.
Special advertising will also be available for this Women in Remarketing issue. For more information or to purchase space, please contact publisher Bill Zadeits at bzadeits@autoremarketing.com.
Now in its eighth year of recognizing these top auto professionals, Auto Remarketing would also like to call attention to the prior honorees, which include:
2015 Women in Remarketing
Stephanie Baker, General Manager, Dealers Auto Auction of Murfreesboro
Amy Bouck, Senior Director of Lease-End Servicing and Remarketing, Hyundai Capital America
Gail Berger, Vice President of Auto Remarketing, Sirius XM
Kimberly Farley, Senior Vice President of Workforce Solutions, Equifax
Lori Grone, Vice President of Field Operations, Costco Auto Program
Lesley Lovallo, Vice President of Corporate Development, Larry H. Miller Automotive Operations
Linda McNeely, Director of Fleet Operations, Auction Broadcasting Co.
Barbara Mousigian, Vice President of Product, Cars.com
Cheryl Munce, Chief Executive Consultant, Alteso
Michelle Nichols-Neff, Vice President & Partner, BSC America
Michele Noblitt, Executive Vice President & General Manager, Dealers Auto Auction of the Rockies
Kelly Olson, Manager of Dealership Online Services, Ally Financial
Stacey Petras, Assistant Vice President of Asset Remarketing, Operations Support, GM Financial
Becca Polak, Executive Vice President, General Counsel & Board Secretary, KAR Auction Services
Pauline Pons, Co-Founder & Vice President, TPC Management Company
Jana Rauschenberg, Fleet Lease Sales Manager, West Michigan Auto Auction
Mandy Savage, General Manager, Manheim Detroit
Janet Smail, Project & Transportation Manager for Fleet Services, Flexco
Lori Wittman, Vice President & General Manager, VinSolutions
2014 Women in Remarketing
Ann Cammarata, DataScan Field Services LLC
Angie Chattin, CarMax Auto Finance
Cindy Cockerham, Copart Inc.
Tammie Gray, Ally Financial
Mary Haller, Auction Broadcasting Co. LLC
Catherine Iger, AutoTrader.com
Sherry Keltner, Mercedes-Benz Financial Services USA
Joy Wilder Lybeer, Equifax
Charlotte Pyle, Mountain State Auto Auction, Capital City Auto Auction, Pyle Equipment Auctions, and Joe. R Pyle Complete Auction & Realty Service
Nancy Rabenold, Xcira Corp.
Jennifer Ryan, Dominion Dealer Solutions
Diane Scharafin, Carfax
Carol Sewell, ADESA
Mary Lou Sutton, Manheim Credit & Collections
Sheila Tedesco, Lobel Financial
Bridget Townsend, Dealertrack Technologies
2013 Women in Remarketing:
Cheryl DeVries O’Brien, Kalamazoo Auto Auction
Lisa Filippi-Alvarez, American Honda Motor Co.
Anne Fleming, Women-Drivers.com
Valerie Fuller, FordDirect
Isabelle Helms, Autotrader
Rebecca Hewitt, World Omni Financial Corp.
Alison Ouchi, Ally Financial
Julie Picard, Manheim
Jenell Ross, Bob Ross Auto Group and AIADA
Sue Saris, NAAA
Lisa Scott, ADESA Canada and OPENLANE
Patty Stanley, Carolina Auto Auction and Indiana Auto Auction and ServNet
Laura Taylor, Charleston Auto Auction
2012 Women in Remarketing:
Wendy Carter, Autotrader
Courtney Cole, Hare Chevrolet
Lori Coniglio, Wheels Inc.
Stacey Coopes, FordDirect
Stephanie Gingras, Dealers Auto Auction of the SouthWest
Mary Jane Hogan, American Recovery Association
Susie Heins, Manheim
Allison Lind, Mercedes-Benz USA
Michelle Mallon, ADESA
Claudia Plascencia, Repo Remarketing
Andrea Riley, Ally Financial
Keely Smith, AutoIMS
Amy Weisenburger, DataScan Field Services LLC
2011 Women in Remarketing:
Lilicia Bailey, Manheim
Jennifer Costabile, General Motors
Jody DeVere, AskPatty.com
Kristie Griffin, Milwaukee Auto Auction
Deborah Malinowski, Santander Consumer USA
Cynthia Mitchell, BSC America
Gina Paolino, Affinity Auto Program
Rachel Richards, Sonic Automotive
Jennifer Schade, ARI
Ronna Webb, ADESA
2010 Women in Remarketing Class:
Sue Boehlke, Manheim
Jeannie Chiaromonte, Bank of America
Megan Haley, Fiserv
Alexis Jacobs, Columbus Fair Auto Auction
Mary Ann Pipes, CitiFinancial
Debbie Vaughn, ADESA
Angela Williams, Rawls Auto Auction
2009 Women of Remarketing Class:
Carolyn Crafts, Cars.com
Renee Dusek-Higgins, Davis-Moore Auto Group
Joan Horst, BMW
Jennifer Johnson, Jennifer’s Auto Sales
Melanie Kovach, AutoMart & AutoExtra.com
Carol McDavid, GMAC
Jane Morgan, ADESA
Berta Phelps, Manheim corporate
Shirlie Slack, Fredericksburg Auto Auction
Karen Tanner-Smith, CitiFinancial
Allison Weller, Chrysler Financial
Lynn Wolver, Chase Bank
Staff writer Josh Hyatt can be reached at jhyatt@autoremarketing.com, or by phone at (919) 674-6020 ext. 152.
Auto Remarketing is launching a new project this year to honor the “Best Auto Auctions to Work For,” and it’s one in which you can get directly involved.
In fact, we need your help to make it work. First, the details:
Best Auto Auctions to Work For
What is it?
A workplace study for the auto auction industry that will recognize the best auto auctions to work for (on an unranked basis).
It is designed and intended for individual auction locations — no corporate or HQ offices; just individual auction locations.
It is absolutely free/no charge for auctions to participate.
Winners will be recognized in the Sept. 15 edition of Auto Remarketing and at a special Best Auto Auctions to Work For recognition breakfast on Nov. 17 during the National Remarketing Conference/NAAA Convention.
Who is conducting the study?
Auto Remarketing, teaming with Best Companies Group in Pennsylvania, is underwriting the study.
However, the study will be managed by, and data analyzed 100 percent, by the staff of Best Companies Group (BCG).
Best Companies Group will directly administer all of the surveys and manage/analyze all of the data and information. No input from Auto Remarketing staff.
How are auctions chosen?
The Best Companies Group will analyze the data from the group of auctions choosing to participate and develop metrics and standards based on that data to determine which auctions are named to the list of Best Auto Auctions to Work For.
It’s either pass or fail, and ONLY those auctions that pass will be included in results. Auto Remarketing will NOT publish information on auctions that participate and do not meet the criteria required. And, again, there are no rankings.
Alright, I’m in. What do I need to do to participate?
For individual auction locations to participate, the general manager/leader of that auction needs to opt in at this website, www.bestautoauctionstoworkfor.com, by April 22.
Registration is now open.
More information and answers to many of your questions can also be found at that same website. Auto Remarketing and its print, digital, email and social media channels will be keeping you posting as this project progresses.
But for now, if you are an auction GM, make sure your auction has what it needs to participate by registering at www.bestautoauctionstoworkfor.com by April 22.
If you have a question about Best Auto Auctions to Work For, contact Mor Aframian at maframian@cherokeemediagroup.com or (800) 608-7500, ext. 126.
Cherokee Media Group president Bill Zadeits had a big surprise in store for him during today’s opening remarks at Used Car Week. The industry leader was chosen by the National Auto Auction Association as the 89th Warren Young Sr. Fellow.
The lifetime distinction was presented to Zadeits by Mike Browning, the incoming NAAA president. NAAA will also be donating $2,500 in Zadeits’ name to the Warren Young Sr. Scholastic Foundation.
Ron Smith, owner and principle of Cherokee Media Group, is also a Warren Young Sr. Fellow.
“The Warren Young Fellowship was created in honor of Warren Young Sr., a pioneer of the auto auction industry,” according to NAAA. “The award recognizes major contributions to the National Auto Auction Association and acknowledges sustaining support for the NAAA Warren Young, Sr. Scholastic Foundation Inc. goal of improving access to post-secondary education through scholarships and educational assistance.”
Lifetime Achievement Award
Another pioneer in the remarketing industry was honored Thursday at the National Remarketing Conference, as well. Ricky Beggs, the recently retired senior vice president of Black Book, was recognized with Auto Remarketing’s Lifetime Achievement Award.
The award, sponsored by AutoVIN and AFC, recognizes lifetime contributions to the remarketing industry and was presented to Beggs by Tom Cross, president of Black Book, during an awards presentation mid-morning at NRC.
The award is in its second year and was presented to Don Fowler, senior director of business development at AutoVIN, at the 2014 Used Car Week Conferences.
Many more in the industry are being honored today at the NRC event, as well. The inaugural Remarketing & Used-Car Industry 40 Under 40 will be honored during a luncheon, and this year’s Women in Remarketing Class will be on site for an awards ceremony and panel discussion this afternoon.
Three years ago, I was getting ready to go to my first Used Car Week, which was taking place, coincidentally, at The Phoenician.
Jonathan Fredin, our chief photographer here at Cherokee Media Group, told to me expect lots of food throughout the five-day conference series.
This, of course, was music to my ears. (And, by the way, he was right).
We’re returning to The Phoenician this year, and tasty food will once again be on the menu at Used Car Week 2015.
But here are a few changes you can look forward to:
CPO Forum begins at 9 a.m. Monday (Nov. 16)
That means early to bed Sunday night. Monday morning will kick off with some great workshops, and we don’t want you to miss out.
The CPO workshops repeat
If you pull up your handy Used Car Week app on your smartphone, you’ll notice that our CPO Forum workshops repeat. So, if you have trouble deciding which ones to attend, no need to worry. Catch them on the next go-around.
Additionally, some (but not all) of the National Remarketing workshops repeat, including a few on Wednesday. Be sure to check the agenda to get the full rundown. And all of that info can be found on the Used Car Week app.
Inaugural Remarketing & Used Car 40 Under 40
On the awards side of Used Car Week, we have added a presentation to honor Auto Remarketing’s inaugural Remarketing & Used Car 40 Under 40. These folks will be recognized during a luncheon on Thursday (12 p.m. to 2 p.m. on Nov. 19)
Networking & reception fun
In additional to our usual receptions, this year, we also have two new networking/social events for you to enjoy. From 8 p.m. to 11 p.m. on Wednesday night (Nov. 18) is the Cocktail Hour, brought to you by Vcommerce. Head up to the J&G Steakhouse Patio, atop the Phoenician’s main building, for all the fun.
Then on Thursday (Nov. 19) is the Social Hour, sponsored by Fleet Financial, Montway Auto Transport and ServNet. It will be held from 4:30 p.m. to 6:30 p.m. in the expo hall.
Editorial & social media
Last but not least are some editorial and social media additions to Used Car week. We’re planning to set up space in the expo hall to conduct video interviews. If you’re interested, email me at joverby@cherokeemediagroup.com or tweet me at @AR_JoeOverby. Or just find me at Used Car Week and come say hello!
Speaking of Twitter and all things social media, be sure to use the #UsedCarWeek hashtag for your social media posts throughout the week. And be ready for an exciting announcement regarding our Best Auto Auctions to Work For in 2016.
Meantime, get set for a great week of content, networking and fun.
And, please, enjoy the food.
Really, anywhere that Howard Segal has gone, there have been cars.
His job as a youth at the gas station, pumping fuel at age 13. Following the footsteps of his older brother, the southern New Jersey native then became a mechanic in his late teens. That eventually led to the dealership world, auto finance and remarketing.
And now the vice president and national remarketing manager for Wells Fargo is our latest National Remarketing Executive of the Year.
The award, sponsored by ServNet, will be presented to Segal on Nov. 18 at the National Remarketing Conference portion of Used Car Week.
“In just three short years, the National Remarketing Executive of the Year, presented by ServNet, has become a great tradition and generated strong respect within the remarketing industry,” said Bill Zadeits, publisher of Auto Remarketing and Used Car Week conference chair.
“It’s something that we at Auto Remarketing and the National Remarketing Conference are very proud of, and we’re honored to present this year’s award to Howard Segal of Wells Fargo,” Zadeits added.
“ServNet congratulates Howard Segal of Wells Fargo Auto Finance as National Remarketing Executive of the Year,” said Kevin Brown, ServNet’s president and owner of Missouri Auto Auction. “He has long been a respected partner and valued friend to the auto auction community, and we applaud his tireless efforts and the outstanding contributions he has made to our industry.”
R. Charles Nichols, owner of BSC America Auctions and former chairman of the board at ServNet, added: “Howard is one of the giants in the remarketing industry, whose dedication, vision and innovation have established his position as a leader in the marketplace.”
Segal has seen it all when it comes to the car business. He worked for a decade in the dealership world, starting in his early 20s. Starting off as a mechanic in the service department, Segal advanced from there, eventually becoming a used-car manager.
He has been with Wells Fargo since 2003 and held previous remarketing roles with Bank of America and PNC National bank. All told, Segal has been on the remarketing side of the business for more than 20 years, but his experience on the dealership level certainly still helps him today.
He said that working in the dealership gave him the chance to experience the sales and service process and learn the organizational part of it.
You will be able to learn more from Segal in our Nov. 15 issue of Auto Remarketing, our on-site issue for Used Car Week.
In addition to the awards ceremony, Segal will be a panelist on the “The State of the Pre-Owned Industry” general session at NRC on Nov. 19. Both are can’t-miss events, so make your register for Used Car Week and check out our attendee list, as well.
Auto Remarketing and SubPrime Auto Finance News on Tuesday highlighted the winner of this year’s Re3 Executive of the Year Award, which is being presented by Consolidated Asset Recovery Systems.
This year’s winner is Scott Phillips, who is vice president of credit risk and business process at Lendmark Financial Services, which was founded in 1996 and is headquartered in Covington, Ga. Lendmark Financial Services offers personal loans, automobile loans, debt consolidation loans and merchant retail sales financing services through nearly 200 branch locations in 13 states.
Lendmark Financial’s growth strategy a year ago focused on making major investments in the build-out of 32 new stores and technology to improve the customer experience. In addition to continued expansion and potential acquisition opportunities, the strategy for this year focused on maximizing customer value and delivering on the company’s commitment to its customers and retail partners, which included significant adjustments in the recovery and remarketing departments.
Phillips will officially receive his honor during the Re3 Conference, which is a part of Used Car Week on Nov. 16-20 at the Phoenician in Scottsdale, Ariz.
“Congratulations to Scott Phillips as well as the team at Lendmark Financial Services. Recoveries comprise one of the most the challenging portions of the finance business, and the company navigates these hurdles successfully because of Scott’s expertise and leadership,” said Auto Remarketing and SubPrime Auto Finance News publisher and Used Car Week chair Bill Zadeits.
Phillips joins previous winners of the accolade, including Jeff Haynes of BBVA Compass and Karen Nelson of Crescent Bank.
During the Re3 Conference, which is presented by Digital Recognition Network, CARS chief executive officer Steve Norwood will give the award to Phillips. Here’s a rundown of other industry executives and leaders who already made plans to attend.
“Scott is a thought leader who's knowledge and experience in the industry has been essential for Lendmark as they have transitioned to a centralized repossession and remarketing department from that of a decentralized model,” Norwood said.
“The initiatives that Scott has spearheaded have increased efficiency and streamlined the entire process for Lendmark enabling him and his team to consistently exceed their corporate goals on recovery,” Norwood continued.
Norwood also mentioned why it’s important to recognize executives in the recovery space who play a critical role.
“Having innovative leaders in this industry who recognize the importance of compliance and the challenges it poses is key,” Norwood said.
“The auto finance industry doesn't look the way it did three, four or five years ago, and there are many executives in the market who are supporting and driving change in their organizations and the industry as a whole,” Norwood went on to say. “Recognition for their efforts is an important part of inspiring the rest of our industry to adapt and change with the market.”
Group 1 Automotive’s management was “particularly pleased” with one used-car metric seen throughout the retailer’s U.S. and international operations during the third quarter: same-store used-vehicle sales climbing double-digits.
In the company’s statement announcing its Q3 earnings results, Group 1 president and chief executive officer Earl Hesterberg said: "We are delighted to announce an all-time quarterly revenue record of $2.8 billion. Continued expense leverage in the United States and strong top-line growth in both the U.S. and U.K. delivered a record third quarter adjusted diluted EPS of $1.91.
“We were particularly pleased with the double-digit growth in used vehicle unit same-store sales that all three of our markets delivered this quarter,” he continued.
“In addition, our U.K. operations had an outstanding quarter, with revenue up 39.6 percent on a constant currency basis,” Hesterberg added. “Finally, while overall market conditions continue to be challenging in Brazil, with new vehicle industry volumes declining over 25 percent on a year-over-year basis, our team in Brazil grew same-store revenue by 7.1 percent on a constant currency basis and delivered another profitable quarter.”
Going back to the across-the-board used unit sales growth that Hesterberg mentions, here’s how that shakes across Group 1’s markets:
- In the U.S., Group 1 retailed 26,756 used units on a same-store basis during the quarter. This was up 10.3 percent year-over-year.
- In the U.K., it had 3,153 same-store retail used sales for the quarter, which beat the year-ago sum by 19.0 percent.
- In Brazil, there were 1,228 same-store used retail sales, a 15.3-percent improvement.
Stay tuned for Thursday's edition of Auto Remarketing Today, where we delve further into Group 1's used-car operations.
