Consumer confidence came in better than expected in the University of Michigan Survey of Consumers. The Index of Consumer Sentiment was 73.7 for May 2020, up 2.6% from April but down 26.3 percent from May 2019. According to Richard Curtin, Surveys of Consumers chief economist, confidence inched upward in early May as the CARES relief […]
I-CAR Opens Nominations for Russ Verona and Jeff Silver Awards
The Inter-Industry Conference on Auto Collision Repair (I-CAR) announced nominations are open for its two industry awards which recognize outstanding contributions to advancing technical education and professionalism in the collision repair industry; the Russ Verona Memorial Award and the Jeff Silver award. Nominations for both awards will be accepted through July 31, and the winners […]
Holden Expands Certified Collision Repair Network to Include HSV & Chevrolet Vehicles in Australia
GM Holden announced the expansion of its Certified Repairer Network to include all past and present HSV vehicles along with GM vehicles such as the Chevrolet Silverado and Camaro that are currently being sold by HSV. Due to the nature of HSV vehicles, only repair shops that have gained the I-CAR Gold Class standard are […]
Boyd Group Completes $164 Million Bought Deal Share Offering
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 […]
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