Same store sales decreased 1.5%. Company raises CA$200 million to fund future acquisitions and improve balance sheet. Boyd Group Services Inc. (TSE:BYD) announced its preliminary first quarter financial results and that it raised approximately CA$200 million ($143.6 million) through a bought deal share issuance under an agreement with CIBC Capital Markets, Cormark Securities Inc., Goldman […]
PPG Reports Lower First Quarter Sales as Pandemic Impacts Results
PPG (NYSE:PPG) reported first quarter 2020 net sales of about $3.4 billion, down approximately 7% versus the prior year. Selling prices increased more than 1%. Sales volumes were down 8% versus the prior year, in aggregate, including an estimated impact of the COVID-19 pandemic of $225 million, or about 6%. Unfavorable foreign currency translation impacted […]
NJM Insurance Commits $400,000 to COVID-19 Relief Efforts
NJM Insurance Group, the property and casualty insurer in the Mid-Atlantic region, has committed over $400,000 to COVID-19 relief efforts to assist families, businesses, and communities impacted by the pandemic. The funding will go toward non-profits serving essential needs, health care providers, emergency responders and coordinated statewide efforts in New Jersey and Pennsylvania. “Community support […]
NICB Reports Texas Continues to Take the Top Spot for Hail Claims
The National Insurance Crime Bureau (NICB) today, released a three-year analysis of insurance claims associated with hail storms in the United States. The report is based on a review of claims data from ISO ClaimSearch during the period of January 1, 2017 through December 31, 2019, totaling 2,769,362 hail loss claims. The top five states […]
Paycheck Protection Program Re-Opened Yesterday
The Small Business Administration (SBA) yesterday began accepting new loan applications under its Paycheck Protection Program (PPP) after additional funding was approved by the U.S. Congress last week. In a joint statement, U.S. Treasury Secretary Steven T. Mnuchin and SBA Administrator Jovita Carranza, said, ““The PPP has supported more than 1.66 million small businesses and […]
North Carolina Towing Service Agrees to Pay $19,000 to Settle EEOC Sexual Harassment Lawsuit
Hunter Auto & Wrecker Service, Inc., a Charlotte, N.C.-based towing business, will pay $19,000 and provide other relief to settle a sexual harassment lawsuit brought by the U.S. Equal Employment Opportunity Commission (EEOC), the federal agency announced in early April. According to the EEOC’s lawsuit, Hunter Auto violated federal law when it subjected a female […]
Virginia Governor Signs Vehicle Safety Inspection Program Legislation
The Automotive Service Association reports that after efforts earlier this year to eliminate the state’s motor vehicle safety inspection program, Virginia Governor Ralph Northam (D) has signed a bill that keeps safety inspection programs in place in the state. House Bill (HB) 1414 states, “Motor vehicles, trailers, and semitrailers required to be inspected pursuant to […]
Classic Collision Acquires Collision Repair Center in South Florida
MSO now operates 35 locations. Classic Collision Inc., the Atlanta-based automotive collision repair company, announced that it has acquired Palm Collision Center in its South Florida region. This acquisition adds to Classic Collision’s presence in South Florida after the purchase of Carolina Auto Body in December 2019, now giving Classic eight South Florida locations. Palm […]
Axalta Offers Expanded Live Virtual Training for Refinish Customers Globally
Axalta (NYSE:AXTA) today announced it has expanded its live virtual continuous learning courses for Refinish customers globally while they follow shelter-in-place orders during the coronavirus pandemic. Each virtual class provides live, interactive instruction from Axalta’s expert training team via webcast. “We value our customers and are pleased to offer paint and body shop technicians the […]
CARSTAR Colorado Collision Repair Centers Offer Free Vehicle Sanitation for Health Care Workers
CARSTAR collision repair centers throughout Colorado are offering free services to help keep healthcare workers and first responders on the road, safe from germs and viruses in their vehicles. “We owe a debt of gratitude to those who are putting their lives on the line to help face the coronavirus challenge,” said Steve Rigsby, director […]
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