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 […]
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 […]
Paycheck Protection Program Extended Through August 8
President Trump signs legislation extending the deadline for businesses to apply for a forgivable loan until August 8. Approximately $130 Billion remains in program. Small-business owners now have until August 8 to apply for forgivable loans under the U.S. Small Business Administration (SBA) Paycheck Protection Program (PPP). The Small Business Administration is expected to restart […]
OSHA Releases Frequently Asked Questions and Answers On Worker Safety During the Coronavirus Pandemic
The U.S. Department of Labor’s Occupational Safety and Health Administration (OSHA) has published frequently asked questions and answers to help protect workers from exposure to the coronavirus. “OSHA developed these FAQs based on inquiries received from the public,” said Principal Deputy Assistant Secretary of Labor for Occupational Safety and Health Loren Sweatt. “OSHA is committed […]
Nationwide Insurance Completes Transition to Independent Agency Model
On July 1, Nationwide completed its 18-month transition to operate as a fully independent agency carrier. More than 99% of the company’s formerly captive agents will transition to Nationwide’s independent agency channel and continue partnering with the company. Since the company made the announcement to transition to a fully independent model in 2018, new written […]
AIA Canada Cancels Canada Night that was Planned for November in Las Vegas
The Automotive Industries Association (AIA) of Canada announced that the 2020 edition of Canada Night has been cancelled due to ongoing uncertainty surrounding COVID-19 restrictions and concerns for the health and safety of participants. Originally scheduled for November 3, 2020, Canada Night was to have taken place during the Automotive Aftermarket Parts Exposition (AAPEX) in […]
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