CDK Adds Software Expert to Board

CDK Adds Software Expert to Board

June 22, 2016 — Normally the announcement of a new board appointment isn’t big news, but yesterday’s news that CDK Global’s board has elected Lithium CEO Robert “Rob” Tarkoff to its board is another sign of the company’s ongoing overhaul. CDK has come under pressure from investors to speed up its transformation plan which includes a massive restructuring… Continue Reading

Cliff Banks - The Banks Report

Cox Automotive Continues Restructuring

June 10, 2016 — Cox Automotive is still working to properly align its pieces following the $4.1 billion acquisition of DealerTrack last fall. As of NADA, it appeared that the restructuring was complete, but today, executives are announcing internally a series of moves realigning some its most visible pieces. The big move Cox is making…

This content is for subscribers only.
Log In Subscribe
CDK Investors Keep Pressure on the Tech Leader

CDK Investors Keep Pressure on the Tech Leader

June 9, 2016 — (UPDATED June 18) — CDK Global activist investor Elliott Management followed up its letter from May 4 with a second letter yesterday urging the tech firm to move faster in implementing its capital return plan while being more transparent with shareholders. Five hours later, CDK announced it is accelerating its $1…

This content is for subscribers only.
Log In Subscribe
Cliff Banks - The Banks Report

Internet Brands Acquires Auto Credit Express

June 3, 2016 — Internet Brands, owned by private equity firm KKR, acquired Auto Credit Express earlier this week. With the acquisition, Internet Brands creates an expanded presence into the subprime vehicle loan market. Auto Credit Express, founded in 1999, matches subprime customers with financing lenders and dealers. It also provides training for dealers selling to subprime… Continue Reading

CDK Global’s Future — Is a Sale in the Cards?

CDK Global’s Future — Is a Sale in the Cards?

May 30, 2016 — UPDATED — A swift kick in the butt from an activist investor followed by a company-wide restructuring has CDK Global’s stock price climbing while possibly signaling the technology firm could be sold within the next several months. This report analyzes the opportunities and challenges presented by the new restructuring and what it…

This content is for subscribers only.
Log In Subscribe
Cliff Banks - The Banks Report

Ford Direct Names New CEO

May 16, 2016 — FordDirect announced today that industry veteran Mike Jurecki will be its new CEO effective June 6. Jurecki previously served as CEO of RouteOne for 14 years where he led the formation of the joint venture of the financial services firm. He replaces Stacey Coopes who left FordDirect in early December (Big… Continue Reading

The Modern Showroom — Thoughts from NADA

The Modern Showroom — Thoughts from NADA

Most dealerships today are configured to yesterday’s processes and experiences. The environment hasn’t kept up with the digital age.  While most dealerships have effective websites and Internet processes, their store images often don’t reflect the new realities of today’s society – touch screen mobile devices; interactive and personalized digital signage and virtual reality (VR) applications. But… Continue Reading