Recovery management services provider Millennium Capital and Recovery Corp. recently achieved the AT101 Service Organization Controls (SOC) 2, Type 2 Report for the fourth consecutive year.  The company highlighted the SOC 2 examination has taken on greater significance during the past couple of years as consumer finance companies work to attain greater assurances regarding their […] [Read More]

While strong used-car prices likely comes as good news for folks selling used vehicles in the wholesale markets, there are also a few positive implications for dealers on the retail side. According to the latest Manheim Used Vehicle Value Index report, wholesale prices were up 1.1 percent year-over-year in July (on a mix-, mileage- and […] [Read More]

Along with discussing two elements impacting the revenue stream at Insurance Auto Auctions as well as more auction locations that might become part of the company, KAR Auction Services chief executive officer Jim Hallett said the company is seeing volume growth both in the physical lanes as well as its online-only channels. What especially impressed investment […] [Read More]

Few names in the remarketing industry are as resoundingly familiar as Ricky Beggs, the recently retired editor, expert and all-around good guy who reached thousands of people through his writings and weekly video blog for Black Book, a leading provider of used-vehicle values and market research. Ricky is a good friend of mine and, now […] [Read More]

Up next in our Q&A series from the Power 300 issue of Auto Remarketing, we turn to the auction world and connect with Geoff Parker, general manager of ADESA Cincinnati-Dayton.   Auto Remarketing: What are some of the top challenges you’re seeing in the wholesale market this year, and how is your auction overcoming those […] [Read More]

AutoCanada held its second-quarter conference call on Friday, highlighting an impressive boost in revenue and gross profit — perhaps a direct result of the company’s aggressive acquisition strategy over the past year and into 2015. Revenue from existing and new dealerships increased by 75.6 percent, or $351.8 million, to come in at $816.9 million in […] [Read More]

It was an eventful second-quarter conference call for TrueCar, one which included reporting an almost $15 million loss during the quarter, as well as plans for chief executive officer and chairman Scott Painter to step down later this year. Though operating results suffered during the last quarter, the company did report an increase to $65.3 […] [Read More]

With finance companies evidently thirsty for any reliable data and analysis about millennials that’s available, Experian and the National Automobile Dealers Association both chimed in on the topic of consumers born after 1980. Earlier this week, NADA chief economist Steven Szakaly offered a cautious assessment of how millennials are going to impact the market, especially since […] [Read More]

Springleaf Holdings acknowledged when the company reported its second-quarter financial performance on Thursday that its proposed acquisition of OneMain Financial that’s being put together in part to expand its subprime auto financing business won’t culminate until after Labor Day, at the earliest. Officials said they have a timing agreement with the Department of Justice whereby […] [Read More]

McGladrey acknowledged that third-party relationships are helping many financial institutions stay competitive. But the consulting firm insisted these associations also are creating new cybersecurity risks. The situation prompted McGladrey to ask executives and managers whether they’re doing everything they should to protect their systems and data from attacks through their vendors. To help them answer […] [Read More]