ADESA Inc.

News & Analysis

adesa inc. and allete inc. - All News and Analysis

• Former ADESA executive says he was fired.(News)

  - 2005-05-16

  Byline: Arlena Sawyers James Hallett, a former executive vice president of ADESA Inc., says the auction company fired him this month. ADESA announced Hallett's departure Monday, May 9. The Carmel, Ind., company did not elaborate. Hallett, 52, would not...

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• Spun off, ADESA says it's poised for takeoff.(News)

  - 2004-10-25

  Byline: Arlena Sawyers ADESA Inc. is ready to grow now that it is spun off from ALLETE Inc., company executives say. Cameron Hitchcock, CFO of ADESA Inc., says the auto auction company could not expand when it was a subsidiary of ALLETE...

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• Duluth, Minn., utility Allete prepares spinoff of auto-auction unit Adesa.

  - 2004-08-26

  By Peter Passi, Duluth News-Tribune, Minn. Knight Ridder/Tribune Business News Aug. 26--Allete Inc., the Duluth-based parent company of Minnesota Power, announced Wednesday that in a few weeks it will spin off a longtime subsidiary into a stand-alone company called Adesa Inc. ...

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• ALLETE Declares Spin-off Date, Reverse Stock Split; New Dividend Projected for December 1 Payment

  - 2004-08-25

  DULUTH, Minn. -- The board of directors of ALLETE, Inc. (NYSE:ALE) announced today that the company will distribute its remaining equity interest in ADESA, Inc. (NYSE:KAR) to ALLETE shareholders on September 20, 2004. ALLETE expects to distribute to its shareholders one share of ADESA common stock for each outstanding...

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• ALLETE Reports Second Quarter Earnings

  - 2004-07-21

  DULUTH, Minn. -- ALLETE, Inc. (NYSE:ALE) today reported second quarter 2004 earnings of 40 cents per share, compared with 53 cents per share in the second quarter of 2003. Earnings from continuing operations were 38 cents per share for the quarter, compared with 45 cents per share in the second...

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• ALLETE Announces Important Milestone Toward Planned Spin-off of Automotive Services Division

  - 2004-06-16

  DULUTH, Minn. -- ALLETE, Inc. (NYSE:ALE) today announced an important milestone toward the planned separation of ALLETE and ADESA, Inc. (NYSE:KAR). ADESA has agreed to issue 6,250,000 shares of its common stock at a price of $24.00 per share that will begin trading today on the New York Stock Exchange...

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• Automotive Firm Allete Holds Annual Shareholder Meeting In Duluth, Minn.

  - 2004-05-12

  By Peter Passi, Duluth News-Tribune, Minn. Knight Ridder/Tribune Business News May 12--Investors attending Allete Inc.'s annual shareholder meeting Tuesday came eager to learn more about a company at a crossroads. This fall, the publicly traded Duluth corporation plans to spin...

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• Late News.(Brief Article)

  - 2004-03-15

  GM Daewoo loses $166 million DETROIT - GM Daewoo Auto & Technology Co. lost about $166 million last year, up from about $101 million in 2002, according to General Motors. GM, which owns 44.6 percent of the Korean partnership, reported its ...

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• Duluth, Minn., Utility to Spin Off Automotive Division in $150 Million IPO.

  - 2004-03-12

  By Lee Bloomquist, Duluth News-Tribune, Minn. Knight Ridder/Tribune Business News Mar. 12--Adesa Inc., the highly profitable automotive services division of Allete Inc., will be separated from its Duluth-based parent company through a second-quarter initial public offering, Allete announced Thursday. ...

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• Duluth, Minn.-Based Firm Names Chief Financial Officer for Its Auto Services.

  - 2004-01-07

  Duluth News-Tribune, Minn. Knight Ridder/Tribune Business News Jan. 7--Duluth-based Allete Inc. on Tuesday named a chief financial officer to lead its automotive services businesses when they spin off into a new publicly traded company this summer. Dave Gartzke, Allete's CEO,...

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