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Monday, June 6, 2011 RSSSEND TO A FRIENDPRINT
Top 5 Stories
Texas Dealer, Former NADA President Ramsay Gillman Dies at 67
Forget $4 Gasoline, Americans Buy Bigger Cars in May
Chrysler Could Skip an IPO
Ally Financial to Offer Its Dealers 5% of IPO Shares
Chrysler May Sell Prized Dealership to Settle Dispute
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Top 5 Stories
Texas Dealer, Former NADA President Ramsay Gillman Dies at 67


 
Texas dealer and former NADA president Ramsay
Gillman died Friday in Houston.

Texas dealer and former NADA president Ramsay Gillman died Friday of natural causes at his home in Houston. Gillman was chairman of Gillman Companies, one of the largest private automobile dealerships in the country with more than a dozen dealerships in Texas. He served on NADA's board of directors from 1989 to 1999 and was elected as the president of NADA in 1997. "Ramsey Gillman was one of the most influential and beloved members of the NADA family and throughout the entire automobile industry," said NADA President Phil Brady. A celebration of Gillman's life will be held Tuesday from 5 p.m. to 8 p.m. at the George H. Lewis Funeral Home in Houston. A memorial service is scheduled at St. Luke's United Methodist Church on Wednesday at 11 a.m.
Source: NADAFrontPage.com

More articles:

 Texas Dealer Ramsay Gillman Dead at 67 (Automotive News)

 Auto Giant, Charity Supporter Ramsay Gillman (Houston Chronicle)

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Forget $4 Gasoline, Americans Buy Bigger Cars in May

The rush by Americans to buy smaller, more fuel-efficient cars hit a speed bump in May. New data compiled for Reuters shows the rush for vehicles with higher gas mileage is more restrained than three years ago, and is already beginning to fade, even as gasoline prices test their 2008 peaks and automakers tout an expanded line-up of gas-sipping cars, from plug-in Volts to 6-cylinder F-150s. "By November of 2008, everybody had already gotten over $4 a gallon and were back to their old ways. It was a panic situation, people overreacted," AutoNation Inc. Chief Executive Mike Jackson said. "People now feel they've already seen the movie. They've adjusted to it."
Source: Reuters

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Chrysler Could Skip an IPO

Chrysler Group LLC for the first time Friday confirmed an initial public offering won't be needed if its major shareholder, Italian auto maker Fiat SpA, reaches deals to acquire shares held by the U.S. auto maker's two minority shareholders. "The technical answer is no," Sergio Marchionne, chief executive of Fiat and Chrysler, said in response to a question about the continuing need for an Chrysler IPO. Mr. Marchionne confirmed he is in talks to acquire Canada's 1.7% stake and the government is interested in selling.
Source: The Wall Street Journal

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Ally Financial to Offer Its Dealers 5% of IPO Shares

Ally Financial Inc. said it intends to offer as much as 5% of the common shares from its initial public offering to its dealers, as the auto lender disclosed more details of its IPO. The move allows auto dealers, Ally's primary customers, access to the auto lender's public stock offering, which is expected this summer. Any shares left over from this 5% reserve will be offered to the general public, Ally said in its amended IPO prospectus filing on Friday with the U.S. Securities and Exchange Commission.
Source: The Wall Street Journal

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Chrysler May Sell Prized Dealership to Settle Dispute

Company's Calif. site is too close to private dealers, group says

Chrysler Group LLC may be on the verge of selling its company-owned flagship dealership in Los Angeles to a private retailer, which could appease angry franchise dealers in California. The facility is owned by Chrysler, but David Fischer, CEO of the Troy-based Suburban Collection, and California dealer Howard Drake have an operating agreement to run it for a year as they decide whether to purchase the dealership. Chrysler Group LLC CEO Sergio Marchionne said he is not worried about the fate of the prize dealership he hopes will jump-start sales in California, where Chrysler has 6 percent market share compared with almost 10 percent nationwide. "It is solvable," Marchionne said this week. "It will all go away."
Source: The Detroit News

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More articles

June 3, 2011 - Chrysler to Sever US Government Ties

June 2, 2011 - GM Financial to Offer Floorplan Loan Program for Dealers

June 1, 2011 - Ford CEO Mulally Urges One Fuel Standard

May 31, 2011 - Sales Slowdown in May Won't Prevent Biggest Year Since 2008

May 27, 2011 - Lenders Warm Up to Subprime Auto Loans

 
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Quotable
"Ramsey Gillman was one of the most influential and beloved members of the NADA family and throughout the entire automobile industry. He leaves behind an extraordinary legacy built over a lifetime of remarkable achievements."

    -- NADA President Phil Brady, speaking of Texas dealer and former NADA president Ramsay Gillman, who died Friday, NADAFrontPage.com, June 6

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