Late last week, it was announced that Ford is to be recognized as a recipient of the 2011 Secretary of Defense Employer Support Freedom Award for exceptional and exemplary support given to employees serving in the National Guard or Reserve. Out of 4,000 nominations submitted this year, Ford is one of 15 companies nationwide to […] [Read More]

JOPLIN, Mo. — As the company's dealership barely escaped severe damage, CarHop is broadening its efforts to serve customers in Joplin, Mo., site of nation's deadliest single tornado since the National Weather Service started keeping records in 1950. Along with helping customers in Joplin rebuild their lives by replacing vehicles damaged in the disaster, CarHop […] [Read More]

PHILADELPHIA — VINtek announced that its consumer auto finance Web portal is now compatible with the Apple iPhone and iPad. The company's TitleMyCar website can enable dealers to cut down on processing time and costs by electronically delivering documents to borrowers for review. The portal presents auto loan agreements, supporting documents and DMV forms, which can reduce […] [Read More]

LOS ANGELES — Westlake Financial Services recently finalized a revolving securitization facility with Wells Fargo Securities worth $250 million. The company said the deal closed May 26. "This latest securitization is another step towards realizing our goal of becoming a programmatic issuer in the market," indicated Westlake chief financial officer Paul Kerwin. "Our plan is […] [Read More]

ANAHEIM, Calif. — In conjunction with hiring a new senior vice president and team leader for its commercial banking group, Sunwest Bank revealed it's now offering rediscount lines of credit to indirect subprime auto lenders from its Anaheim, Calif., office. Rediscount basically means the act of discounting a short-term negotiable debt instrument for a second time. […] [Read More]

KCI Auto Auction recently revealed the country music group that will headline its Guitars and Cars Sale later this summer. After music group The Cronkites performs, the event will showcase country music group Diamond Rio. The three-day event is slated for Aug. 23 through Aug. 25, kicking off with a 300-plus-unit late-model sale on the […] [Read More]

Recovery Industry Services Co. recently formed a partnership with MBSi Capital Corp., makers of the Re-Pros Repossession Software Suite and the iRepo Solution, to provide a key code solution. Officials explained Re-Pros or iRepo users will see a button within their assignments that allows them to request the key code from within the software. “Upon […] [Read More]

As its president delays retirement, Ally Financial shuffled its top management structure late last week as four executives received new appointments effective immediately. Among those appointments is the newly created position of senior executive vice president of finance and corporate planning, which is being filled by Jeffrey Brown, formerly Ally’s corporate treasurer. In addition to […] [Read More]

It’s official. The U.S. Treasury has agreed to end its ownership share in Chrysler, inking a deal late last week for Fiat to buy its remaining 6 percent interest in the Detroit automaker for $500 million. While this certainly is a landmark for the automaker, what kind of impact will it have in the long […] [Read More]

The Toyota Financial Services and Lexus Financial Services Premier Auction Awards were recently revealed, honoring a slew of auctions for excelling in operations, sales, retention and administrative performance. There were 10 awards doled out. Seven of those were from TFS and three were from LFS. The TFS awards were given to: ADESA Lexington Manheim Kansas […] [Read More]