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

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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A Second Antitrust Lawsuit Filed Against CDK & Reynolds

A Second Antitrust Lawsuit Filed Against CDK & Reynolds

May 2, 2017 — Authenticom, a firm providing data integration services to car dealers, filed a lawsuit late yesterday against CDK Global and Reynolds and Reynolds alleging the two companies engaged in antitrust practices. The suit could have far-reaching implications — not only on the companies involved, but also on the entire automotive retail space. It’s another chapter… 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

Auto Retail Vendors Missing Out on Hot M&A Party – TBR 2017 1st Quarter Report

Auto Retail Vendors Missing Out on Hot M&A Party – TBR 2017 1st Quarter Report

April 6, 2017 — (UPDATE — SEE BELOW)  Acquisition activity among automotive retail vendors has ground to a halt in the the first quarter this year, according to data compiled by The Banks Report. Other than Solera Holding’s purchase of the British-based Autodata the first week of January, there have been no investments, IPOs or acquisitions…

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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