PROXY CORNER: KAR Auction Services Inc.

Carmel-based KAR Auction Services Inc. is the holding company for ADESA Inc., which operates used-vehicle auctions at 70 locations, Insurance Auto Auctions Inc., which operates salvage auctions at 159 locations, and Automotive Finance Corp., which provides floor-plan financing at 89 locations.

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Adesa parent turns profit, beats expectations

KAR Auction Services reported a profit of $5.3 million in the fourth quarter after sustaining a loss in the same period in
2008. The company's CEO attributed the turnaround to several factors, including the completion of an initial public offering.

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Ex-execs return to Adesa

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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