Back To AutoSalvageConsultant.com
Auto
Recycling eNewsletter
For immediate release -March 2005
Written and published by Mike Gibson and Ron Sturgeon, autosalvageconsultant.com, email to email Mike Gibson
To register for future
free issues, visit http://www.autosalvageconsultant.com.
Don’t forget to watch for our management articles monthly in
Recyclers Power Source Magazine, or posted at our web site.
LKQ Corporation Announces 2004 Fourth Quarter Net Income Results Up 68%
CHICAGO--Feb. 2, 20054, 2005--LKQ Corporation today reported results for its fourth quarter and year ended December 31, 2004, with revenue of $113.8 million for the quarter and $424.8 million for the year. This represents growth over 2003 of 35% for the quarter and 30% for the full year. Net income was $5.0 million for the quarter and $20.6 million for the year, representing growth over 2003 of 68% and 41%, respectively.
Associated Press, Kelso to Buy Insurance Auto Auctions, 02/23/2005
Auto
salvage company Insurance Auto Auctions Inc. said Wednesday it agreed
to be acquired by affiliates of Kelso & Co., a New York-based
private equity investment firm, for $385 million in cash.
Insurance Auto said its board unanimously
approved the deal, and majority shareholder ValueAct Capital has
agreed to vote about 29.7 percent of the outstanding shares in
support of the transaction.
One Interchange Available for all Australian Dismantlers to Use
Actual Systems, developers of the Pinnacle Yard Management System, have entered into discussions with various industry groups offering to provide one Parts Interchange for Australia. These groups so far include APRRA, ARMS, VACC & ADEN. Actual Systems' MD Peter Riddle comments: “Interchange is essential to Australian dismantlers and having a common Interchange is nearly as important as having one at all. In the US we bought Interchange from Hollander as they already had created what has become the standard in American interchange. In the UK we had to create Interchange and with that experience of both using the American Interchange and creating one for the UK we created a powerful new Australian Interchange last year.”
United Recyclers Group Announces Premium Salvage Disposal Program
United Recyclers Group, LLC (URG) announced today the unveiling of their Premium Salvage(TM) program for the insurance industry to dispose of their total loss vehicles. With close to 300 auto recyclers across the country, United Recyclers Group, LLC can offer a 48 hour guarantee for picking up vehicles for the insurance industry on a nationwide level. Expediting pickup reduces costs to the insurer. The vehicles are then stored for free which further reduces costs. The URG network of auto recyclers then takes digital images of the total loss and displays them on the URG state of the art salvage auction acquisition website for a weekly sale reaching hundreds of bidders across the country. United Recyclers Group, LLC has implemented the necessary processes to make this program very cost-effective and convenient for the insurance carrier regardless of their company size. With a minimal fee to the insurance company to handle all of the work from the first call of picking up the vehicle -- to the final process of selling the vehicle and processing the title, the URG salvage acquisition program is able to increase the margin of return for the insurance company by minimizing fees to both the seller and the buyer. This results in better salvage returns to the insurer and lower costs to the recycler. The program is a win-win for the insurance and auto recycling industries by reducing expenses and margins normally associated with the salvage disposition process.
Taurus used as tow truck puts would-be thieves afoot, The Decatur Daily, March 3, 2005
A botched burglary stranded two suspects after they learned their broken-down getaway car was a lousy substitute for a tow truck. The owner of Decatur Auto Repair on 22nd Avenue Northwest said Wednesday he received a tip Tuesday that a man and woman were trying to steal a truck without an engine from his business. "They were headed to Denbo's to make a quick $200," said James Mitchell, referring to a business now named Tennessee Valley Recycling, which buys scrap metal. "I've had three cars left off my yard in a week or two." Lt. Dennis Hughes said police received a call about noon Tuesday that the suspects allegedly chained a Chevrolet C10 pickup with no engine to their Ford Taurus and pulled it from Mitchell's lot. Mitchell followed the suspects from West Moulton Street to Old Trinity Lane. Police found both vehicles, but the suspects fled into the woods from a BellSouth building parking lot. "The chain didn't come loose," Mitchell said. "They tied it to a strut and yanked it too hard. It snatched the wheel out of alignment, and couldn't go any farther." Mitchell said the two stopped the car to see why it had trouble accelerating. "They took the chain loose, and the car was all over the road," Mitchell said. "They had to abandon it."
Ron Sturgeon Announces His 2nd Business Book, Available in Summer 2005
Ron’s new book, Green Weenies and Due Diligence, a compilation of insider business jargon, raw, serious and sometimes funny will be available in the summer of 2005. The book includes over 1200 terms, and 70 illustrations by world famous Gahan Wilson. Mr. Wilson has been drawing cartoons for Playboy and The New Yorker for decades, and is well known for his macabre style. Visit www.greenweenies.com for more information, or to register for a free weekly email, with the latest Green Weenie term and illustration. You won’t know how to herd cats or have a bake off, and you won’t know what chips and salsa or a Swag is unless you get your copy! Register now to get your free entertaining and educational email weekly! One of the illustrations is shown at the end of this month’s enewsletter, enjoy!
How’s Business?
“An organization's ability to learn, and translate that learning into action rapidly, is the ultimate competitive advantage.” Jack Welch
The Seven Systems every Recycling Facility Needs – a one day Seminar
If you need to: Increase Productivity... Decrease Expenses... Make More Money... Have More Free Time... This seminar is for you! This powerful one-day seminar for only $395.00, includes a working lunch and will show you how you can easily increase productivity, reduce employees and expenses, make more money and have more free time by installing seven systems. Filled with practical "how-to" scalable systems tailored to the recycling industry this seminar will assure that you make more money with less employees than you ever thought possible!
Location Date
Phoenix, AZ Saturday, April 9, 2005
Atlanta, GA Sunday, April 10, 2005
Pittsburg, PA Saturday, April 16, 2005
St. Louis, MO Saturday, April 23, 2005
San Francisco, CA Saturday, April 30, 2005
If you would like a registration form for one of the seminars listed above please contact Mike Gibson at email Mike Gibson, or 817-925-8430.
AutoSalvageconsultant.com was formed in 2001 to help recyclers improve their businesses. With over 50 years of experience in 3 staff members, the group is THE definitive source for recyclers’ management and training needs. Mike Gibson and Tammy Sturgeon joined the team in 2003, and bring a wealth of experience to the team, plus more resources, as there have been more requests for help than Ron could meet. The founder, Ron Sturgeon is past owner of AAA Small Car World. In 1999, he sold his six Texas locations, with 140 employees, to Greenleaf. In 2001, he founded North Texas Insurance Auction, which he sold to Copart in 2002. In 2002, his book “Salvaging Millions” was published to help small business owners achieve significant success, and was recently reprinted and published in Chinese. In June 2003, he joined the new ownership and management team of GreenLeaf. He also manages his real estate holdings and investments. You can learn more about how to help your business at www.autosalvageconsultant.com. Mike can be reached at 1409 Carson, Haltom City, TX 76117, (preferably) email Mike Gibson, or 817-925-8430.