Cars.com Spin-off Slated for May 31

Cars.com Spin-off Slated for May 31

May 3, 2017 — TEGNA’s board today approved of the spin-off of Cars.com slated to be completed on May 31. Trading is set to begin on June 1 on the New York Stock Exchange with the ticker symbol CARS. TEGNA stockholders of record at the close of business on May 18 will receive one share… Continue Reading

Berkshire Automotive Caught in Law of Unintended Consequences

Berkshire Automotive Caught in Law of Unintended Consequences

April 21, 2016 — Berkshire Hathaway Automotive finds itself the victim of the law of unintended consequences in Texas’ fight to keep electric vehicle manufacturer Tesla from selling direct to consumers. The problem is that Texas’ legislation  prohibiting manufacturers from selling vehicles directly to customers in the state was written so broadly that it includes… Continue Reading

TBR 2016 Report on Dealership Buy-Sell Activity

TBR 2016 Report on Dealership Buy-Sell Activity

March 18, 2017 — Although 2016 saw a slight downturn in the number of transactions from 2015, dealership buy-sell activity the last three years has stayed fairly consistent, according to data compiled by The Banks Report. And 2017 is shaping up to be on par with the previous three years. From 2015 to 2016, the…

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Ron Lamb Leaves Reynolds and Reynolds

Ron Lamb Leaves Reynolds and Reynolds

March 2, 2017 — Ron Lamb, the president of Reynolds and Reynolds, has decided to leave the automotive retail technology giant to pursue opportunities in private equity, according to a statement provided to associates earlier today. He was named president of Reynolds and Reynolds in October 2010. He began his career with Reynolds in 1991 and… Continue Reading

CDK Shares Jump on Strong Fiscal 2nd Qtr

CDK Shares Jump on Strong Fiscal 2nd Qtr

February 3, 2017 — CDK Global’s stock price hit its all time high yesterday of $65.03 following a strong second quarter fiscal 2017 report. It settled back down to close at just over $64. The stock has been on an upward trajectory the last six months and was trading at just under $54 a share in… Continue Reading

BMW Exec to Join Holman Automotive

BMW Exec to Join Holman Automotive

February 3, 2017 — Holman Automotive is expected to name longtime BMW executive Peter Witt as its Platform Vice President for the Northeast today, The Banks Report has learned. Witt will lead Holman’s 10 dealerships in New Jersey and Pennsylvania and will report to Gene Welsh, the group’s executive vice president. Holman is one of… Continue Reading