Auto auctions

KAR Auction Services makes $30M acquisition

August 6, 2014
 IBJ Staff
Carmel-based KAR Auction Services Inc., which released a solid quarterly earnings report Tuesday, acquired a 50-percent stake in Toronto-based Nth Gen Software Inc., which makes the TradeRev automotive remarketing system.
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Auto auctioneer invests big in tech as sales go online

March 6, 2014
Dan Human
KAR Auction Services Inc. expects to spend as much as $125 million on technology this year as its focus continues to shift to the Web and apps.
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PROXY CORNER: KAR Auction Services Inc.Restricted Content

September 28, 2013
 IBJ Staff
KAR Auction Services Inc., 13085 Hamilton Crossing Blvd., Carmel 46032, is the holding company for ADESA Inc., which operates used-vehicle auctions at 67 locations; Insurance Auto Auctions Inc., which operates salvage auctions at 163 locations; and Automotive Finance Corp., which provides floorplan financing at 104 locations.
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Slower sales curb results at Adesa parent

November 3, 2011
J.K. Wall
Carmel-based KAR Auction Services suffered a 16-percent decline in its adjusted profit, missing analyst expectations.
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Indiana classic car auction sees attendance jump

September 5, 2011
Associated Press
Officials of the company that has taken over a long-running classic car auction in northeastern Indiana say they believe it has bounced back from the financial and legal troubles of its former owner.
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Former auction house owner Kruse released on bond

August 31, 2011
Associated Press
Former auction house owner Dean V. Kruse has been released on bond after surrendering to face a theft charge out of Pennsylvania alleging that he never paid a man $38,000 for selling an antique hearse.
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Embattled auctioneer wanted in Pennsylvania

August 30, 2011
Associated Press
Northeastern Indiana officials have issued an arrest warrant for embattled former auction house owner Dean V. Kruse, who has faced years of legal battles over his business practices.
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Indiana State Fairgrounds to host collector car auction billed as world's largest

May 7, 2011
 IBJ Staff
Last year’s Mecum auction at Indianapolis reported gross sales of $41.7 million and drew more than 30,000 people.
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KAR Auction reports higher profit, revenue

November 4, 2010
The auction company had revenue of $445.3 million in the quarter ended Sept. 30, a 4-percent increase from same quarter of 2009. Profit tripled, to $25.6 million.
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Auto auction's new owner calls first event a success

September 7, 2010
Associated Press
Auctions America by RM, which bought the former Kruse Auction Park in Auburn two months ago, said more than 25,000 people attended this past weekend's event, during which sales topped $13 million.
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Popularity of old cars indicates economic recovery

June 5, 2010
 IBJ Staff
Sales of Eisenhower-era Eldorados and Kennedy-era Corvettes provide signs of hope.
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Suspended Kruse hopes to keep famous auction going

May 26, 2010
Associated Press
Kruse's attorney said his 69-year-old client would like to find some way to keep the annual auction alive, possibly by finding another auction company to run this year's event.
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Gavel flies on muscle car auction

May 19, 2010
 IBJ Staff
"My Name is Earl" and "Charlie's Angels" cars are among the more peculiar offerings at the 1,750-vehicle Mecum Auction Co. collector car sale that runs through Sunday at Indiana State Fairgrounds.
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Ex-execs return to AdesaRestricted Content

May 21, 2007
Chris O'Malley
Less than two years after being driven out of Adesa Inc. as unceremoniously as a Buick down its auction lanes, James Hallett is back behind the wheel of the nation's No. 2 wholesale vehicle-auction company.
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  1. The $104K to CRC would go toward debts service on $486M of existing debt they already have from other things outside this project. Keystone buys the bonds for 3.8M from CRC, and CRC in turn pays for the parking and site work, and some time later CRC buys them back (with interest) from the projected annual property tax revenue from the entire TIF district (est. $415K / yr. from just this property, plus more from all the other property in the TIF district), which in theory would be about a 10-year term, give-or-take. CRC is basically betting on the future, that property values will increase, driving up the tax revenue to the limit of the annual increase cap on commercial property (I think that's 3%). It should be noted that Keystone can't print money (unlike the Federal Treasury) so commercial property tax can only come from consumers, in this case the apartment renters and consumers of the goods and services offered by the ground floor retailers, and employees in the form of lower non-mandatory compensation items, such as bonuses, benefits, 401K match, etc.

  2. $3B would hurt Lilly's bottom line if there were no insurance or Indemnity Agreement, but there is no way that large an award will be upheld on appeal. What's surprising is that the trial judge refused to reduce it. She must have thought there was evidence of a flagrant, unconscionable coverup and wanted to send a message.

  3. As a self-employed individual, I always saw outrageous price increases every year in a health insurance plan with preexisting condition costs -- something most employed groups never had to worry about. With spouse, I saw ALL Indiana "free market answer" plans' premiums raise 25%-45% each year.

  4. It's not who you chose to build it's how they build it. Architects and engineers decide how and what to use to build. builders just do the work. Architects & engineers still think the tarp over the escalators out at airport will hold for third time when it snows, ice storms.

  5. http://www.abcactionnews.com/news/duke-energy-customers-angry-about-money-for-nothing

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