Boyd Group Services Inc. (TSE:BYD) today announced that it has closed its previously announced bought deal financing share offering consisting of the original 1,265,000 shares at a price of CA$183.00 per share. The offering raised CA$231,495,000 ($164.3 million) as the underwriters exercised their over-allotment option in full, acquiring an additional 165,000 shares above the initial […]
Uni-Select Inc. Reports First Quarter Sales Down Nearly 3% on Impact from Coronavirus
Uni-Select Inc. (TSE:UNS) today reported sales of $407.7 million for the first quarter ended March 31, down 2.9% from 2019, and negative organic growth of 3.4%. The company estimated the impact from the COVID-19 crisis on sales of 3% to 4%. Excluding the effect of COVID-19, consolidated organic sales would have been relatively flat against […]
New Jersey Directs Insurance Companies to Provide Premium Reductions to Drivers and Businesses
The New Jersey Department of Banking and Insurance directed insurance companies in the state to provide premium reductions to consumers and businesses during the COVID-19 emergency. The bulletin issued May 12 by the department covers premiums that are paid during the public health emergency that began March 9th and applies to property and casualty insurance […]
NADA President and CEO Peter Welch to Retire at End of 2020
The National Automobile Dealers Association (NADA) on Wednesday announced that President and CEO Peter Welch will be retiring at the end of 2020. Welch, 67, was appointed by the NADA Board of Directors in January 2013 to head the organization. Under his leadership, NADA strengthened its core mission of advocating on behalf of franchised dealers […]
Boyd Group Reports May Sales Continue to be Impacted by Coronavirus
Reports May sales down slightly less than 40% so far. Announces amended credit facility and final first quarter earnings Boyd Group Services Inc. (TSE:BYD) announced its final first quarter financial results and provided updates on its negotiations to amend its credit facility and the continuing impact of the COVID-19 pandemic. The company had released its […]
Auto Recyclers Association Raises Concerns About Changes to Workers Compensation Laws Related to Coronavirus
The Automotive Recyclers Association (ARA) announced it opposes any legislative and executive actions taken by states that create a presumption that an employee working for an essential business who contracts COVID-19 contracted the virus at their place of work. According to the association these types of changes to workers’ compensation laws place an unfair burden […]
Elephant Insurance Extends Work from Home for Remainder of 2020
Elephant Insurance, the U.S. subsidiary of the Admiral Group plc, one of the United Kingdom’s largest insurers, announced plans to allow employees the option of continuing to work remotely until the end of the year. Elephant provides auto insurance policies in Illinois, Indiana, Maryland, Ohio, Tennessee, Texas and Virginia. While Elephant is planning to reopen […]
IAA Launches New Merchandising Platform in the U.S.
IAA, Inc. (NYSE:IAA) announced the introduction of IAA Interact, a comprehensive merchandising platform combining imagery, information and personalization that engages buyers with detailed vehicle information while driving a more competitive bidding environment and higher proceeds for sellers. The platform was designed using extensive e-commerce merchandising research to drive increased online bidding and buying. The platform […]
Fisher Auto Parts Opens New Distribution Center in Kentucky
Fisher Auto Parts announced the purchase and partial construction of a 420,000 sq. ft. automated distribution center in Walton, Ky. The facility is fully operational and will service up to 250 stores from the 26 acre location. Herb Godschalk, president of Fisher Auto Parts said, “We believe in the adage that no matter what our […]
Mitchell Automates OEM Collision Repair Procedures Delivery Based on Scan Results
Mitchell announced a new, seamless integration between its Mitchell Diagnostics scanning system and the OEM repair procedures in Mitchell’s TechAdvisor database. For the first time, collision repair technicians using Mitchell’s scan tools can link directly from the diagnostic trouble code (DTC) on a scan report to the corresponding OEM repair procedures. The new feature is […]
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