Authenticom Wins Preliminary Injunction in Reynolds, CDK Antitrust Lawsuit – What Does It Mean?

Authenticom Wins Preliminary Injunction in Reynolds, CDK Antitrust Lawsuit – What Does It Mean?

July 14, 2017 — BREAKING NEWS — Authenticom today won its request for an emergency preliminary injunction forcing Reynolds and Reynolds and CDK Global to allow it access to their dealer management systems during the course of the antitrust litigation. Authenticom sued Reynolds and CDK in May alleging the two technology firms engaged in antitrust…

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CDK’s Acquisition of AutoMate – Bold Move for Investors; for Dealers, Jury is Still Out

CDK’s Acquisition of AutoMate – Bold Move for Investors; for Dealers, Jury is Still Out

June 4, 2017 — CDK Global’s pending acquisition of competitor Auto/Mate is a brilliant deal that should make investors happy. With only 1,300 or so dealerships in play and a price tag that won’t dent the bottom line (although Auto/Mate will get a nice multiple) it isn’t that big of a deal on the surface.…

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Latest Moves Align AutoNation’s Executive Team With Its Strategic Initiatives

Latest Moves Align AutoNation’s Executive Team With Its Strategic Initiatives

June 1, 2017 — AutoNation named Lance Iserman as its new Chief Operating Officer and Executive Vice President of Sales yesterday. Iserman’s appointment is the latest in a series of executive moves by Chairman and CEO Mike Jackson designed to better position AutoNation for the future as it moves forward with new strategic initiatives to extend… Continue Reading

Cliff Banks - The Banks Report

Update – Round One to Authenticom in Antitrust Lawsuit

May 22, 2017 — The court today denied motions filed by CDK Global and Reynolds and Reynolds on Friday afternoon requesting dismissal of Authenticom’s request for a preliminary injunction hearing in the antitrust lawsuit it recently filed. Both defendants cited Authenticom’s nearly two-year delay in filing the lawsuit and request for the preliminary injunction. They also cited… Continue Reading

Dealership Buy-Sell Market Plummets — TBR’s 2017 1st Qtr Report

Dealership Buy-Sell Market Plummets — TBR’s 2017 1st Qtr Report

May 22, 2017 — The downward trend in dealership buy-sell activity which began in 2016 continued into the first quarter of this year with a 36% year-over-year decline, according to data compiled by The Banks Report. Also in the first quarter report, Audi continues to be aggressive in using the Right of First Refusal to…

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Berkshire Bill Dead in Texas?

Berkshire Bill Dead in Texas?

May 18, 2017 — According to an article in The Texas Tribune this week, legislation dubbed the “Buffett Bill” that would allow Berkshire Automotive to keep selling vehicles in Texas is dead. Fierce opposition from Tea Party activists and environmental groups (yes, politics still can make strange bedfellows) forced Lt. Gov. Dan Patrick to pull the legislation… Continue Reading

Former AutoNation Exec Mike Maroone Buys Serra Stores in CO

Former AutoNation Exec Mike Maroone Buys Serra Stores in CO

(Update -Correction Below) May 15, 2017 — Mike Maroone, former AutoNation president, has acquired four dealerships from the Serra organization in Colorado Springs, CO. The acquisition follows a two-year non-compete stemming from Maroone’s retirement from AutoNation in April 2015. The stores include two Chevrolet dealerships and Honda and Volkswagen dealerships along with a collision shop. The… Continue Reading

Tesla’s Retail Model May Be Its Biggest Challenge

Tesla’s Retail Model May Be Its Biggest Challenge

May 9, 2017 — Tesla’s moment of truth is nearly here. This year’s introduction of its Model 3 may be the auto industry’s most critical vehicle launch since Ford’s Model T took over America’s roads more than a century ago. Whether the fledgling company becomes the ultimate disruptor and a truly viable automaker will be determined by the…

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The Impact of Carvana’s Less Than Stellar IPO

The Impact of Carvana’s Less Than Stellar IPO

May 2, 2017 — Carvana’s less than stellar first couple of days on the New York Stock Exchange raises questions not only about its business model, but could also impact the IPO plans of other companies in the automotive retail space. The online used vehicle retailer launched its initial public offering last Friday raising $225 million on the…

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