PAR, RDN PARENT ANNOUNCES HIGHER FIRST QUARTER EARNINGS
- The parent company of PAR North America, RDN and announced a first-quarter profit of nearly $61 million, 11% higher than what the company earned the same quarter last year. KAR Auction Services reported total revenue for the company was $745 million, up 18% from a year ago. ADESA, the auction company, accounted for $400 million of the parent’s revenue for the quarter. KAR did not break out earnings or financial results for PAR, RDN, although those units are considered to be part of ADESA.
[Correction: An earlier version of this story incorrectly identified DRN as a unit KAR Auction Services. DRN is not a unit of KAR or ADESA. DRN maintains an affiliation with RDN.]
REPOSSESSED VEHICLE HAD 100 POUNDS OF MARIJUANA HIDDEN INSIDE
- A vehicle that was repossessed in El Paso, Texas and then sold at auction in Phoenix was found to have more than 100 pounds of marijuana taped inside the bumper, fender, and trunk of the car.
SNAAC DETAILS AGGRESSIVE EXPANSION PLANS
- Security National Auto Acceptance Corp. (SNAAC), an auto lender that specializes in lending to servicemembers, has detailed an aggressive expansion into a number of new markets. The lender is looking to add a large number of new dealer-customers to its ranks.
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