Financial

  • Connecticut Insurance Commissioner Thomas R. Sullivan has fined four GEICO subsidiaries a total of $177,500 for improper rating, claim delays, loss of use and unlicensed adjusters among other violations to state law.
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  • With a deathly ill economy languishing in critical condition, owners of collision repair shops are being urged to conduct a triage and take the financial temperature of your business – stat!
    James E. Guyette
  • LKQ Corporation announced that it entered into a definitive credit agreement with several lenders to borrow up to $1 billion. The new facility replaces the company's $750 million facility that would have expired in October 2013.
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  • PPG Industries (PPG) reported sales for the second quarter 2011 of $4.0 billion, an increase of 15 percent versus the prior year's second quarter. Each major region and reporting segment achieved volume and price gains.
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  • For the year ending December 31, 2011, CARSTAR reported nearly 400 store locations in 31 states and 10 Canadian provinces with company-wide sales of almost $600 million. CARSTAR said its network outperformed the industry on same store sales, deliveri
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  • Boyd Group Income Fund announced that Terry Smith, executive chairman of the Boyd Group, has sold 300,000 units of his ownership position in the fund. As Smith approaches eventual retirement, he has chosen to diversify his highly concentrated stake i
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  • The Collision Repair Executive Webcast (CREW) will welcome Rex Green of BB&T Capital Markets to discuss "The Investor's View of the State of the Financial Markets and What Does The Next Five Years Look Like For Owners of and Investors in Multiple
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  • CHANTILLY, VA - A corporation that accumulates more than $250,000 in retained earnings could be slapped with a penalty "accumulated earnings tax" by the Internal Revenue Service (IRS), unless the retained earnings are handled very carefully. In gener
    Motor Age Magazine
  • Hybrid vehicle registrations rose in 2007 following rising fuel prices and growing awareness of the environment, according to two companies. R.L. Polk & Co. figures recently released show there was an increase of 38 percent in the hybrid segment
    Motor Age Magazine
  • Continental Tire North America, Inc. has announced pricing increases of up to 9 percent on all Continental, General Tire and proprietary brand passenger and light truck tires in the United States and Canada. The precise price raises will vary by mark
    Motor Age Magazine
  • Mac Tools has come to the aid of the Kansas City Kansas Community College's Technical Education Center by donating $10,000 in new tools and equipment through the I-CAR Education Foundation.
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  • Green shops benefit from healthier work environments and lower operating costs.
  • If you think you've structured your collision repair business to protect your personal assets in the event of a lawsuit, you might want to think again. Larry Oxenham, senior advisor with the American Society for Asset Protection, says that many small
    Brian Albright
  • The I-CAR Education Foundation received $1.7 million in support from the industry in 2009 for collision schools, instructors and students. Through monetary and in-kind product donations, the 2009 I-CAR Education Foundation donors helped to meet and e
    searchautoparts
  • PPG Industries, which has been trying to sell its underperforming glass and chemicals units, said that it would sell its automotive glass business to Platinum Equity, a private equity firm, for $500 million. According to PPG, the deal is expected to
  • During PPG Industries' 2011 capital markets day Dec. 5 in New York City, Chairman and CEO Charles E. Bunch and other senior leaders discussed the company's progress and explained strategies for future success, including organic growth, innovation, co
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  • WASHINGTON (April 30, 2007) - The U.S. Small Business Administration (SBA) has introduced a new online training resource for budding entrepreneurs to provide the fundamentals of starting a small business. The "Small Business Primer Strategies for Suc
    Motor Age Magazine
  • As automotive repair business owners, we probably have more choices today than ever when it comes to supplier sources. On the surface, where we buy might seem like an easy choice, but a closer examination might complicate that decision.
  • Manufacturers of rubber products will be feeling the squeeze as the cost of an important raw material is going up. PPG Industries, citing its own higher raw material expenses plus ballooning energy and transportation costs, is enacting a price increa
    Motor Age Magazine
  • More students will be able to further their automotive education now that Universal Technical Institute, Inc. has developed a $10 million private loan initiative. The program assists select students who have exhausted traditional Title IV student fin
    Motor Age Magazine