Mitchell International, Inc., has signed a definitive agreement to sell the company to an investment group led by Aurora Capital Group and including General Electric Pension Trust. Aurora Capital Group is a Los Angeles-based investment firm formed in 1991 that acquires and builds companies in partnership with operating management. The Firm currently manages approximately $2 […]
American Family Insurance Names New VP of Claims
On heels of repairer uproar surrounding AmFam’s recent switch from Mitchell to Audatex, company names new head of claims. American Family Mutual Insurance Company, the third-largest mutual property and casualty insurer in the nation, has appointed Mark Afable, 49, as vice president of American Family’s claims division effective Monday, November 6. Afable replaces Terese A. […]
Loftus Responds to WMABA
The following was submitted by Sheila Loftus in response to the recent press release from the Washington Metropolitan Auto Body Association: As the longtime editor and publisher of Hammer and Dolly magazine, I prided myself on getting my facts right. I usually succeeded. When I didn’t, I let my readers know where I’d gone wrong. […]
Open Letter from Washington Metro Auto Body Association
The following is an open letter to the collision repair industry from the Board of Directors of the Washington Metro Auto Body Association: On July 5th, 2006, the WMABA (Washington Metro Auto Body Association) Board of Directors received notice from Sheila Loftus that she was resigning from the position of Editor/Publisher of Hammer and Dolly, […]
ADP Sells Claims Services Business to Solera
Automatic Data Processing and Solera officially announced that the two companies have entered into a definitive agreement for ADP to sell its Claims Services business (CSG) to Solera, Inc. for $975 million in cash. Solera was formed by Tony Aquila, in partnership with a private equity firm, GTCR Golder Rauner. Aquila was formerly the President […]
Ford Files Suit to Halt U.S. Import of Aftermarket Crash Parts
Ford has filed suit with the U.S. International Trade Commission (ITC) claiming that certain aftermarket parts violate patents held by the automaker. Ford claims that certain parts designed for use on the F-150 infringe on its patents and the automaker has requested that the ITC issue a cease and desist order to stop importation of […]
CCC to be Acquired by Investment Group for $26.50 per Share
CCC Information Services Group has signed a definitive agreement to be acquired by an affiliate of Investcorp, a global investment group. Under the terms of the agreement, CCC stockholders will receive $26.50 in cash for each share of CCC common stock, representing a 10.3 percent premium over the average closing price of CCC’s stock for […]
Illinois Supreme Court Overturns Avery vs State Farm, Non-OEM Parts Suit
After almost three years of deliberation, the Illinois Supreme Court today issued its decision overturning the billion dollar Avery vs State Farm suit alleging that the insurer deceived policyholders by specifying the use of non-OEM parts for collision repairs. Because of differing language in different policies, the court ruled that a Williamson County Circuit Court […]
SCRS Investigates Blend Panel Refinish Time: The Blend Stops Here
Insurers often reduce refinish time on a panel when they deem it to be a blend panel. Many repairers feel that this term is not completely understood by some insurers, and the use of blend panel refinish time on the estimate is often misused. To shed some light on this issue, the Society of Collision […]
LKQ Files for Initial Public Offering
LKQ Corp. has filed with the Securities and Exchange Commission (SEC) for an initial public offering. In the prospectus filed with the SEC, the company does not specify the number of shares it is planning to offer nor the estimated share price. Formed in 1998, the auto recycler earned $287.1 million in revenue during 2002, […]