Anest Iwata is joining the partnership started by Sherwin-Williams Automotive Finishes and Larsen Motorsports (LMS) in 2019 that established the Blazing Trails Scholarship Fund, a 501(c)3) addressing the talent shortage facing the collision repair industry by providing financial aid to prospective automotive technicians. The spray and finishing equipment manufacturer will support the scholarship fund and […]
Collision Repair Industry Cautious on SEMA Attendance in Face of Pandemic Safety Concerns
Over half of collision repair industry respondents to our survey said they were likely not or definitely not planning to attend this year’s event and the meetings surrounding it due to safety concerns. The majority of collision repair industry participants, insurers and suppliers who responded to a CollisionWeek survey on their plans to attend SEMA, […]
Allstate Acquires National General
The Allstate Corporation (NYSE: ALL) announced it will acquire National General Holdings Corporation for approximately $4 billion in cash, or $34.50 per share. The transaction is expected to close in early 2021, subject to regulatory approvals and other customary closing conditions. “Acquiring National General accelerates Allstate’s strategy to increase market share in personal property-liability and […]
BASF Recognized as 2019 GM Supplier of the Year and Overdrive Award Winner
BASF was named a GM Supplier of the Year by General Motors during a virtual ceremony honoring the recipients of the company’s 28th annual Supplier of the Year awards on Wednesday, June 24. This is the 15th time BASF has received the award. The company was also honored with the Overdrive Award for Sustainable Construction […]
IADA Hosting Auto Appraiser Summit Webinar July 24
The Independent Auto Damage Appraisers’ Association (IADA) announced it will be hosting the first ever Auto Appraiser Summit on July 24, 2020 at 2 p.m. (EDT). Registration for the event is available online. This event will feature leaders from around our industry giving presentations on the newest technology, the latest education, modern tools and platforms […]
Gas Consumption Down Slightly for Week Ending June 26
While week-on-week deliveries were down, the four week moving average of gas supplied to the U.S. market is now down less than 16% compared to 2019. Data from the U.S. Energy Information Administration (EIA) showed gasoline consumption was down slightly for the week ending June 26 after a large increase the previous week. For the […]
Rhode Island Reinstitutes Requirements for Physical Inspection of Collision Repair Claims Following Reopening
Insurance regulator will resume enforcement of regulations requiring physical inspections on claims over $2500. The Rhode Island Department of Business Regulation Insurance Division announced it will resume enforcement of physical inspection requirements that had been paused in March due to the coronavirus pandemic. On July 1, the Division updated its Bulletin Number 2020-2 that had […]
Asbury Automotive Group Acquires Park Place Dealerships Including Two Collision Repair Centers
Asbury Automotive Group, Inc. (NYSE:ABG) announced the acquisition of Park Place Dealerships, one of the country’s largest luxury dealer groups for $685 million of goodwill and approximately $50 million for parts, fixed assets, and leaseholds, excluding vehicle inventory. The operating assets to be acquired include 12 new vehicle franchises, all of which are located in […]
Boston Fed Announces Main Street Lending Program is Fully Operational
The Federal Reserve Bank of Boston on Monday announced that the Main Street Lending Program is now fully operational, ready to purchase participations in eligible loans that are submitted to the program by registered lenders. The program offers five-year loans to help credit flow to small- and medium-sized businesses that were in sound financial condition […]
Steven Chapman Named to Axalta Board of Directors
Axalta Coating Systems Ltd. (NYSE:AXTA) announced that Steven M. Chapman has been appointed to its Board of Directors, effective as of July 21. Chapman will serve on the Company’s Audit and Environment, Health, Safety & Sustainability Committees. “I’m pleased to welcome Steve to our Board of Directors,” said Mark Garrett, Axalta’s Board Chair. “He brings […]
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