Cliff Banks - The Banks Report

TBR Daily Update — Ports Slowdown Affecting Automakers; Berkshire Hathaway Acquisition of Van Tuyl to Close this Week? Mass Action Lawsuit Against TrueCar?

February 16, 2015 — Ports Slowdown Affecting Automakers; Berkshire Hathaway Acquisition of Van Tuyl to Close this Week? Mass Action Lawsuit Against TrueCar? Ports Slowdown Affecting Automakers Several automakers are taking steps to offset a looming parts shortage caused by a contract dispute between dockworkers and shipping companies at 29 West Coast ports. Following nine months…

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Cliff Banks - The Banks Report

Buffett Bounce Over?

Whatever bounce the automotive retail stocks received from Berkshire Hathaway’s announcement 12 days ago that it was entering the car sales space disappeared quickly on Monday as several firms watched their shares plummet led by Lithia Motor’s drop of more than 20% — from more than $80 to under $64 in less than a day. Lithia’s…

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Welcome to Automotive Retail, Mr. Buffett

Welcome to Automotive Retail, Mr. Buffett

October 2, 2014 – Warren Buffett’s announcement today that his Berkshire Hathaway Group is acquiring the Van Tuyl Group Group has the potential to change the market over the next year. Certainly, adding his iconic stature to an industry that already has business luminaries such as Roger Penske and MikeJackson only adds further validation that automotive retail is…

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