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Bond. James Bond.
Shaken, but not stirred, old chap! No, wait a minute, that’s not the bond I wanted to talk about. The bond I’ll discuss today is something else entirely. Governments frequently have requirements that businesses and individuals obtain and maintain a bond as a condition of doing a particular type of business. Businesses whose activities might injure others , in particular, find... Continue »All Technology Recovery Announces New Partnership with Leading Auto Finance Company
Facilitation and Management Company To Streamline and Increase Lender’s Recovery Rates Nashville, Tenn., April 27, 2011 - All Technology Recovery, a full-service facilitation and management company that serves collateral recovery professionals and financial institutions, today announced its new partnership with Regional Acceptance, a premier auto finance company. With this partnership,... Continue »Observations on the Repossession Industry, its Associations and Industry Challenges by Jack Tracey, President of the Automotive Association Services
On March 5th I was a speaker on a panel at the North American Repossessors Summit. This was the first time that I had attended one of these conferences. I was impressed with the level of professionalism in the group and how well run the conference was. However, I left the conference with the feeling that most of the attendees were frustrated. There are four national associations serving... Continue »Industry Fuel Surcharge – A Potential Solution?
It was clear to us from the conversations at the North American Repossessors Summit (NARS) that this industry is being dragged to the alligator pits under the weight of the recent fuel price increases. Since mid-February, ARA has been researching various fuel surcharge formulas that could be applied to our business model. Although it may not be perfect, we have found one based on numbers that... Continue »Forward(ing) Thinking
Forwarding….a hot, controversial topic for many repossession company owners but one that cannot be ignored. This was the theme of the session that I co-presented at the NARS 2011 event in Irving, Texas last week. And this article is my take on what forwarding means to our industry and how we should all work within it. A Forwarding Company is nothing more than another client. Oh I... Continue »NARS 2011 – Where were you? Weren’t you interested in the future of your industry?
Well, if you weren't there, you missed a great event. Yes I am talking about the North American Repossessors Summit (NARS) 2011 which took place in Irving, Texas yesterday. Set at the Omni Mandalay Hotel in Las Colinas, their facilities naturally lent to the delivery of a successful occasion, with an impressive level of customer service to match, from all levels of their employee... Continue »Ally Financial Begins Repayment of U.S. Treasury Investment
DETROIT (March 2, 2011) -- Ally Financial Inc. (Ally) today announced that the U.S. Department of the Treasury (Treasury) will be repaid $2.7 billion from the sale of all the Trust Preferred Securities that Treasury holds in Ally. This represents the full value of Treasury's investment in these securities. The offering priced today at 8.125 percent and is expected to close on March 7,... Continue »FORD Credit Earns $2 Billion in 2010*
Fourth Quarter 2010 Earnings of $367 Million Reported DEARBORN, Mich., January 28, 2011 – Ford Motor Credit Company reported net income of $2 billion in 2010, an improvement of $0.7 billion from earnings of $1.3 billion a year earlier. On a pre-tax basis, Ford Credit earned $3.1 billion in 2010, compared with $2 billion in the previous year. The full year increase in pretax earnings is... Continue »Ally Financial Ranks No. 1 in U.S. New Vehicle Financing
One in eight new vehicles financed is through Ally DETROIT (Feb. 4, 2011) -- Ally Financial has financed more consumer new vehicle purchases in the U.S. than any other lender during 2010, according to AutoCount data by Experian Automotive. In 2010, Ally financed more than 803,000 new vehicle purchases, resulting in nearly $23 billion in consumer retail contracts in the U.S. This... Continue »Exeter Finance CEO to Keynote 3rd Annual North American Repossessors Summit
Summit Challenges Participants to Expand the Future of the Recovery Industry What: American Recovery Association, Inc. (ARA), the world’s largest association of recovery and remarketing professionals, presents its premier annual industry event. The summit will provide attendees with a full program of insightful, forward-looking topics lead by key industry leaders. Mark Floyd, CEO and Vice... Continue »TIME IS MARCHING ON…the 4 and 5 March, NARS 2011 is just around the corner!
I found this proverb while carrying out some research online and had to include it in this article as it truly does say it all – “For tomorrow belongs to the people who prepare for it today”. (African Proverb). I thought too I would 'throw in' a few other quotations that were said by some very wise people that you will recognize - words that are extremely pertinent to what... Continue »“…. Repo Games TV Show is one of the new shows to hit Spike TV…” It’s a joke, right?
Whatever next? Don't they have anything better to use their air time on? When you thought you had heard it all having to suffer the repossession TV shows (and I am purposely NOT promoting the names of those) ....now we have this. It seems that we are to be blessed with yet another piece of media coverage that will probably portray our industry in a very negative light, as having a car... Continue »Ally Financial Reports Preliminary Fourth Quarter and Full Year 2010 Financial Results
Fourth consecutive quarter of profitability Fourth quarter 2010 net income of $79 million and core pre-tax income of $533 million; Full year 2010 net income of $1.1 billion and core pre-tax income of $2.5 billion (NEW YORK, Feb. 1, 2011) -- Ally Financial Inc. (Ally) today reported net income of $79 million for the fourth quarter of 2010, compared to a net loss of $5.0 billion for the... Continue »FORD Credit Earns $2 Billion In 2010*
Fourth Quarter 2010 Earnings of $367 Million Reported DEARBORN, Mich., January 28, 2011 – Ford Motor Credit Company reported net income of $2 billion in 2010, an improvement of $0.7 billion from earnings of $1.3 billion a year earlier. On a pre-tax basis, Ford Credit earned $3.1 billion in 2010, compared with $2 billion in the previous year. The full year increase in pretax earnings is... Continue »Chrysler Group LLC Reports January 2011 U.S. Sales Increased 23 Percent
January marks the 10th consecutive month of year-over-year sales increases Jeep® Grand Cherokee sales up 130 percent versus January 2010 All Jeep models in production post January sales increases Ram pickup truck sales up in January, the ninth-consecutive month of year-over-year sales improvements Jeep, Dodge and Ram Truck brands all post double-digit year-over-year sales... Continue »Exeter Finance CEO to be NARS 2011 Keynote
Mark Floyd, CEO and Vice Chairman of Exeter Finance, is the keynote speaker for NARS 2011. Floyd, former executive of AmeriCredit, will provide insight about loss-mitigation and what it means to recovery agents and the industry. He'll also discuss how recovery agents can help the industry succeed. This will be a keynote you won't want to miss! Floyd joins clients from Nissan, Wells Fargo Auto... Continue »Calling all Repossession Company Owners….it’s time to ‘ROCK AND ROLL!’.
If you have not already reserved your place at the 2011 North American Repossessors Summit (NARS) you need to do that now. Stop procrastinating and leaving things to the last minute as there is another 'action packed' NARS Conference on the horizon that is pertinent to the development and growth of the Repossession Industry and its future. And you, yes YOU, need to be there! For those... Continue »Key Industry Leaders Partner with American Recovery Association to Teach Accreditation Program
American Recovery Association Chooses Seasoned Professionals as Part of Its Best in Class Approach DALLAS, December 14, 2010 – American Recovery Association, Inc. (ARA), the world’s largest association of recovery and remarketing professionals, today announced the industry leaders chosen to teach its new Collateral Recovery and Remarketing Accreditation Program, which launches on January... Continue »American Recovery Association and Subprime Analytics Announces New Recovery Industry Scorecard
Recovery Industry Scorecard Brings New Standards to Recovery and Lending Industry Dallas, TX, December 7, 2010 – American Recovery Association, Inc. (ARA), the world’s largest organization of professional finance adjusters and certified recovery specialists, and Subprime Analytics, a leader in performance analysis of subprime portfolios, today announced its initial findings in a new... Continue »So, you want to do business with the ‘big boys’!
So many small companies set their goals at wanting to do business with the 'big boys'. Who are they you may ask? Well, by that phrase I mean the large corporations - the Financial Institutions such as Ford, GM, Toyota, Bank of America, Chase etc. Many of those small companies feel that it is a right that these large companies should want to give them business, just because they are small... Continue »World’s Largest Recovery Industry Association Launches New Collateral Recovery and Remarketing Accreditation Program
American Recovery Association’s Program Trains and Certifies Lenders, Members and Member’s Employees DALLAS, December 1, 2010 – American Recovery Association, Inc. (ARA), the world’s largest association of recovery and remarketing professionals, today announced its new Collateral Recovery and Remarketing Accreditation Program launching on January 25, 2011 for lenders, ARA members and... Continue »VETERAN’S DAY – WE SALUTE YOU!
www.theamericanrepossessor.com SALUTES ALL VETERANS, FROM ALL WARS. WITHOUT YOU, WE WOULDN’T BE HERE TO SAY…... THANK... Continue »Customer Services…..Always with a Smile!
"It is not the employer who pays the wages. Employers only handle the money. It is the CUSTOMER who pays the wages". HENRY FORD (1863-1947), FORD MOTORS "Every day were saying, "How can we keep this CUSTOMER happy? How can we get ahead in innovation by doing this, because if we don't, somebody else will". Bill Gates, MICROSOFT "There is only one boss - THE CUSTOMER. And he can... Continue »The Illinois Recovery Association (IRA) – Annual Meeting on 13 October 2010
The Illinois Recovery Association (IRA) is holding its Annual Meeting on 13 October 2010, in Aurora, IL. With upcoming changes in the political arena in Chicago land, forwarder issues and industry changes, the Association is urging attendance not only to its members, but to any licensed agency in Illinois. The agenda includes presentations by Tri-State Auction, MVTRAC plus an open forum. ... Continue »Must See
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