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NAAA Honors Charleston Auction

Wednesday, 16 August 2017 22:21
Charleston Auto Auction, a member of the XLerate Group, has been named the National Auto Auction Association's 2017 Southern Chapter Auto Auction of the Year for its outstanding public service. The Moncks Corner, S.C., business was chosen for its depth of commitment that went beyond financial support to taking a very active role in making the local school principal's dream of a residence for homeless students a reality. The auction will be one of four finalists representing NAAA's Eastern, Midwest, Southern and Western chapters competing for the top honor of NAAA's Auto Auction of the Year Award for Excellence in Community Service. Charleston County School District nominated the auction to be honored for its work addressing the problem of 21 homeless students at R.B. Stall High School with its ongoing support of then-Principal Kim Wilson's vision of a house, staffed by surrogate parents, that would provide stability and consistency as well as a bed and meals through his plan called Project H.O.M.E. (Helping Others Mirror Excellence).

NAAA Honors Midwest Auction

Tuesday, 15 August 2017 21:22
Clark County Auto Auction (CCAA) has been named the National Auto Auction Association’s 2017 Midwest Chapter Auto Auction of the Year for its outstanding public service. The Jeffersonville, Ind., business was chosen for its 35 years of giving back to the community, which includes the recent donation of its former five-acre site and 14,000-square-foot facility to the local school system. The auction will be one of four finalists representing NAAA’s Eastern, Midwest, Southern and Western chapters competing for the top honor of NAAA’s Auto Auction of the Year Award for Excellence in Community Service. Each of the contenders will be recognized at the association’s annual convention in November with a crystal trophy. They will also get a photo in NAAA’s member publications and $5,000 payable to a charity of the auction’s choice. Since 1982 the CCAA’s 73 employees have raised funds and volunteered time in support of such nonprofit projects as an annual children’s holiday party, a soup kitchen, homeless shelter, youth sports, historic preservation, employment for those with learning disabilities and numerous other community programs amounting to countless hours and more than $2.5 million. Greater Clark County Schools nominated the auction to receive the award for the contribution of its property worth more than $2 million. Named after the CCAA’s late co-founder, the Mark Fetter Center for Professional Learning furnishes space for training 750 teachers as a major component in the school system’s transition to the Ford Next Generation Learning model.

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Canadian Sale Earns NAAA Honors

Monday, 14 August 2017 21:56

ADESA Winnipeg has been named for the second consecutive year the National Auto Auction Association’s 2017 Eastern Chapter Auto Auction of the Year for its outstanding public service.
The Manitoba, Canada, business was chosen for its tireless volunteer efforts that includes employees planning, piloting and participating in more than 55 events to raise over $3.5 million for a variety of regional causes.

The auction will be one of four finalists representing NAAA’s Eastern, Midwest, Southern and Western chapters competing for the top honor of NAAA’s “Auto Auction of the Year Award for Excellence in Community Service.” Each of the contenders will be recognized at the association’s annual convention in November with a crystal trophy. They will also get a photo in NAAA’s member publications and $5,000 payable to a charity of the auction’s choice.

KAR Reports Higher Revenue

Wednesday, 09 August 2017 17:13

KAR Auction Services Inc. reported revenue of $858 million as compared with revenue of $788.5 million for the second quarter of 2016.
Net income for the second quarter decreased to $57.2 million, as compared with net income of $61.8 million in the second quarter of 2016. Net income for the quarter was negatively impacted by $17.3 million resulting from the company's refinancing activities.
Adjusted EBITDA for the quarter increased to $223.5 million, as compared with adjusted EBITDA of $197.1 million for the second quarter of 2016.