ALEXANDRIA, Va. — The number of U.S. consumer bankruptcy filings finally made some significant downward movement in November, according to data collected and posted by the American Bankruptcy Institute. On a month-over-month comparison, November filings actually dropped by 13.3 percent to 114,587 filings nationwide. Information from the National Bankruptcy Research Center indicated there were 132,173 total […] [Read More]

FARMINGTON HILLS, Mich. — Toronto-Dominion Bank could reach an agreement as early as this week to buy Chrysler Financial, Bloomberg reported this morning. Chrysler Financial could sell for $6 billion to $7 billion, according to Bloomberg sources. Apparently other companies are in talks with the financial institution as well; however, Toronto-Dominion Bank appears to be the […] [Read More]

Once the decision to repossess a vehicle is made, credit unions can be challenged in looking for processes and agents that can bring in the highest recovery rates. This is because we know instinctively that higher recovery rates can mean that the collateral can be sold and the return posted to the deficiency balance more quickly. With […] [Read More]

The results of the American Recovery Association and Subprime Analytics first-ever Recovery Industry Scorecard are now in. This analysis reveals trends in both voluntary as well as involuntary repossessions and covers 25 states.   [Read More]

In addition to the consignment of vehicles being offered at its annual Dealer Appreciation Sale next week, Carolina Auto Auction will dole out Top Buyer and Top Seller awards, prizes and $10,000 cash. The sale is scheduled for Dec. 15. Dealers will also be able to check out the fruits of the $100,000 renovation the […] [Read More]

Last Friday, ADESA brought in a former executive with American Suzuki Motor Corp. to be its executive sales director, effective immediately. Gaining the position is Tim Finley, who will report directly to Jeff Bescher, senior vice president of commercial sales and operations. ADESA noted Finley brings more than 24 years of experience in the industry to […] [Read More]

The Internet Car and Truck of the Year awards were revealed last week during the New England International Auto Show, and in some good news for the Big 3, all of the honors went to domestic models. The awards consist of four categories: the Car of the Year and Truck of the Year awards as […] [Read More]

A feature that’s now optional equipment on some new models — rear-mounted video cameras — appears to be on the way to becoming a mandatory device. The leaders of the U.S. Department of Transportation and the National Highway Traffic Safety Administration revealed a proposal last week that also outlined a schedule for these cameras and […] [Read More]

The over-allotment portion of General Motors’ recent initial public offering brought the U.S. Treasury additional net proceeds of $1.8 billion, which is on top of the $11.7 billion the Treasury pulled in from the initial sale, the department revealed late last week. As such, the Treasury netted $13.5 million overall in proceeds from the GM IPO. [Read More]

Copart opened its 2011 fiscal year with strong gains in revenue as well as operating income and net income. Chief executive officer Jay Adair shared last week that the company’s first-quarter revenue total came in at $212.7 million, a 14.7-percent rise from the same quarter a year ago. The sum helped Copart reach a 5.5-percent […] [Read More]