SAE International endorses generic ADAS terminology recommendations

SAE International, the standards organization for vehicle engineers, announced Tuesday it officially endorsed the series of generic ADAS terms it had worked on alongside J.D. Power, Consumer Reports, AAA and the National Safety Council. “The [...]

2020-05-15T07:11:05-04:00May 15th, 2020|RDN News Feed|

Despite $1B+ on hand, Gerber parent company not ready to get back into M&A

Despite a large war chest to do deals, potentially strained large and small competitors and Driven Brands’ mid-pandemic acquisition of Fix Auto USA, Boyd Group Services told analysts Wednesday it would continue to hold off [...]

2020-05-14T16:08:42-04:00May 14th, 2020|RDN News Feed|

Gerber parent: Insurers treating repairers fairly during COVID-19 issue

Gerber owner Boyd Group Services on Wednesday told investors that insurers have been fair to repairers during the COVID-19 pandemic. However, asked by an analyst if the company had seen any direct repair program pricing [...]

2020-05-14T12:23:35-04:00May 14th, 2020|RDN News Feed|

Boyd: Sales down less than 40% so far in Q2, staff returns ‘in select markets’

After witnessing the COVID-19 coronavirus response cut demand 40-50 percent at the end of last quarter, Gerber’s parent company on Wednesday reported year-over-year sales had stabilized to be “down slightly less” than 40 percent in [...]

2020-05-14T07:08:30-04:00May 14th, 2020|RDN News Feed|

SBA to presume PPP small-biz borrowers of $2M or less applied in good faith

The Small Business Administration on Wednesday removed a potentially significant concern for collision repairers attempting to navigate the COVID-19 economy. The agencies on April 28 had vowed to audit all Paycheck Protection Program borrowers receiving [...]

2020-05-13T16:09:21-04:00May 13th, 2020|RDN News Feed|

LKQ seeks ruling on GM design patents after CCC request to delist aftermarket parts

Following a March CCC request to delist multiple parts offered for sale on the platform, LKQ has asked a federal court to rule its aftermarket parts don’t infringe three General Motors design patents. LKQ’s lawsuit [...]

2020-05-13T10:53:48-04:00May 13th, 2020|RDN News Feed|

COVID-19 biz relief: ‘Safe harbor’ nears, 100% forgivable PPP money remains, tax change sought

Collision repairers who hustled to claim Paycheck Protection Program loans as a precaution for a COVID-19 economic slump but realized they didn’t need the money after all can repay the funds without risk through Thursday. [...]

2020-05-12T12:38:42-04:00May 12th, 2020|RDN News Feed|

Auto body vo-tech aid plans include CREF dealer initiative, CCA $250K products campaign

CREF announced May 4 the Carolinas Collision Association pledged to raise $250,000 worth of products for North and South Carolina trade schools. The announcement comes two months after the Collision Repair Education Foundation announced its [...]

2020-05-12T07:09:10-04:00May 12th, 2020|RDN News Feed|

Moody’s downgrades Service King’s debt rating to Caa1

Noting a $600 million loan due in August 2021, Moodys in March downgraded Service King’s credit profile from B3 to Caa1, with the outlook remaining negative. “Today’s downgrade and negative outlook reflect the increased refinancing [...]

2020-05-12T07:08:39-04:00May 12th, 2020|RDN News Feed|

Caliber: ‘Restoring You’ program offers $500 of deductible for COVID-19 frontline workers

Caliber Collision last month announced it would pay up to $500 of the deductible for any COVID-19 coronavirus first responders and medical workers. The company will pick up and deliver the frontline workers vehicles itself [...]

2020-05-11T16:09:10-04:00May 11th, 2020|RDN News Feed|
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