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, […]
Solera and GTCR Complete Acquisition of ADP’s Claim Services Group
Solera, Inc. and GTCR Golder Rauner, a private equity firm, announced that they have completed the acquisition of the Claims Services Group (CSG) from Automatic Data Processing, Inc. for $975 million in cash. In the deal, Solera acquired operating companies that employ over 2,000 associates in 31 countries, generate over $410 million in annual revenue, […]
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, […]
Some Independents Calling OEM’s Service Information Agreement ‘Empty’
David Parde, president of the Coalition for Auto Repair Equality (CARE), said he is “disappointed that the Automotive Service Association (ASA) has accepted a proposal from automobile manufacturers regarding access to vehicle service and repair information.” Parde added that “the agreement is only between ASA and the automobile manufacturers. CARE and other aftermarket organizations were […]