BNET Industries
Market Cap:$2.4B
Last Fiscal Year Sales:$2.5B
- Public
- US
Dow Jones Description
We are a leading independent auto finance company that has been operating in the automobile finance business since September 1992. We purchase auto finance contracts for new and used vehicles purchased by consumers from franchised and select independent automobile dealerships in our dealership network. We previously made loans directly to customers buying new and used vehicles and provided lease financing through our dealership network, but terminated those activities during fiscal 2008. As used herein, loans include auto finance contracts originated by dealers and purchased by us. We predominantly target consumers who are typically unable to obtain financing from banks, credit unions and manufacturer captive auto finance companies. Funding for our auto lending activities is obtained through the utilization of our credit facilities and securitization transactions. We service our loan portfolio at regional centers using automated loan servicing and collection systems. We have historically maintained a significant share of the sub-prime market and have, in the past, participated in the prime and near prime sectors of the auto finance industry to a more limited extent. We source our business primarily through our relationships with auto dealers, which we maintain through our regional credit centers, marketing representatives (dealer relationship managers) and alliance relationships. ...
President and Chief Executive Officer
Daniel E. BerceNumber of Employees 3,832
Contact Information
801 Cherry St Ste 3900
Fort Worth, Texas 76102-6803
(817) 302-7000
Peer Companies
NAICS Code Consumer Lending: 522291
Recent Events
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AmeriCredit director resigns
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AmeriCredit Set New High For Year Thursday
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FBR Capital Markets and Co. maintains AmeriCredit at 'market perform'
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AmeriCredit reports earnings for quarter
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Fox-Pitt Kelton Cochran LLC initiates coverage of AmeriCredit at 'in line'
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Movers roundup: Comtech falls on analyst downgrade, AmeriCredit stock edges higher on upgrade
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Stifel Nicolaus & Co. upgrades AmeriCredit to 'hold'
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Fitch Affirms AmeriCredit Corp.'s IDR at 'B-'; Outlook Stable
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Fitch Affirms AmeriCredit Corp.'s IDR at 'B-'; Outlook Stable
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AmeriCredit Posts 4Q Profit; Looks to Sign Up Dealers
News & Analysis
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americredit corp. and investment - All News and Analysis
AmeriCredit Corp. F2Q09 (Qtr End 12/31/08) Earnings Call Transcript
Question-and-Answer Session Operator Operator Instructions Your first question comes from the line of Sameer Gokhale - KBW Sameer Gokhale - KBW I just had a question about the charge-off rate, you said you anticipate reaching that 8.5% trigger in this month and I was wondering if you could...
AmeriCredit Corp. F1Q09 (Qtr End 09/30/08) Earnings Call Transcript
Question-and-Answer Session Operator Operator Instructions Your first question comes from Scott Valentin - Friedman, Billings, Ramsey & Co. Scott Valentin - Friedman, Billings, Ramsey & Co. You mentioned obviously the economy not cooperating, but how should we think about the level of loan loss reserves going forward? You mentioned...
AmeriCredit Remains Optimistic on Sub-Prime Auto Lending
As pointed out by BNET auto industry analyst Jim Henry, U.S. auto sales for September fell 26.6% from the year-ago month, due to the credit crisis that's making it harder for some consumers to get auto loans and for automakers to finance their own operations. Operating results at Texas-based AmeriCredit...
AmeriCredit Optimistic on Sub-Prime Auto Lending
As pointed out BNET auto industry analyst Jim Henry, U.S. auto sales for September fell 26.6% from the year-ago month, due to the prolonged credit crisis that's making it harder for some consumers to get auto loans and for automakers to finance their own operations. Operating results at Texas-based AmeriCredit...
Stocks to Watch - FONR, AVNC, PFE, ACF.
M2 PRESSWIRE-13 September 2006-SmallCapReview: Stocks to Watch - FONR, AVNC, PFE, ACFC1994-2006 M2 COMMUNICATIONS LTD RDATE:13092006 SmallCapReview Stocks to Watch for today include - Fonar Corporation (Nasdaq: FONR), Advancis Pharmaceutical (Nasdaq: AVNC), Pfizer Inc (NYSE: PFE), AmeriCredit Corp. (NYSE: ACF) ...
Stocks on the Move! February 28, 2006.
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Fort Worth, Texas-Based AmeriCredit to Pay $400,000 to Settle Charges.
By Jim Fuquay, Fort Worth Star-Telegram, Texas Knight Ridder/Tribune Business News Nov. 5--Five AmeriCredit Corp. employees used inside information to reap illegal profits or avoid taking big losses on their company stock, the Securities and Exchange Commission charged. The...
The Florida Times-Union, Jacksonville, First Coast Ticker Column.
By Mark Basch, The Florida Times-Union, Jacksonville Knight Ridder/Tribune Business News Apr. 28--FIDELITY HAS BEEN GOOD TO SHAREHOLDERS RECENTLY: Fidelity National Financial Inc.'s plan to move its headquarters to Jacksonville should be good news for the area, as it brings hundreds of...
New ratings on Americredit Corp, Sears, Roebuck and Company, Charles Schwab, Idec Pharmaceuticals.
M2 PRESSWIRE-24 January 2003-EquityOutlook.Com: New ratings on Americredit Corp, Sears, Roebuck and Company, Charles Schwab, Idec PharmaceuticalsC1994-2003 M2 COMMUNICATIONS LTD RDATE:01242003 EquityOutlook.Com (IARD#118718) - www.equityoutlook.com - evaluates the following stocks: (Get FREE ratings at {HYPERLINK "http://www.equityoutlook.com/index.htm"}http://www.equityoutlook.com/index.htm) Americredit...
Bringing up baby: The no longer nascent segment, SMID Caps, takes a step into maturity with outperformance in two official indexes. (Smid Cap Stocks).(Statistical Data Included)
The recently discovered market segment coined the 'smid caps' by Prudential's Steven DeSanctis is an intriguing combination of small caps and mid-caps. What's more, it's become official, thanks to two new indexes. DeSanctis, director of small-cap research at Prudential Securities, has done...
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Decision Makers
| Name (plus bio) | Position |
|---|---|
| Daniel E. Berce | President and Chief Executive Officer |
| Chris A. Choate | Chief Financial Officer |
| Mark Floyd | Executive Vice President, Co-Chief Operating Officer |
| Preston A. Miller | Executive Vice President, Coo, Originations |
| Randy Benefield | CIO |
| S. Mark Floyd | Chief Operating Officer, Servicing |
| Steven M Floyd | Co-Chief Operating Officer |
| Steven P. Bowman | Chief Credit Officer |
| Brian S Mock | Executive Vice President, Consumer Services |
| Kyle Birch | Executive Vice President |
| Susan B Sheffield | Executive Vice President of Structured Finance |
| Daniel A Parry | Senior Vice President of Risk Management |
| Gayle Pavlicek | Senior Vice President, Marketing |
| Howard Cobham | Senior Vice President of Dealer Services Canada |
| Kim Pulliam | Senior Vice President |
| Caitlin DeYoung | Vice President, Investor Relations |
| Dan Heinrich | Vice President of Asset Remarketing |
| Jason Landkamer | Assistant Vice President, Investor Relations |
| John Hoffmann | Vice President, Public Relations and Communication |
| Kurt Brown | Vice President |
| Ron Gass | Vice President of Credit and Operations, Dealer Services Canada |
| Ross Cunningham | Vice President of Sales and Marketing, Dealer Services Canada |
| Douglas K. Higgins | Owner, Higgins & Associates |
| Amy Allen | Public Relations Manager |
| James M Fehleison | Executive Vice President, Controller |
| Clifton H. Morris Jr. | Executive Benefits |
| Robert Napoli | Piper Jaffray & Co., Minneapolis, Mn |
| Sameer Gokhale | Piper Jaffray & Co., Minneapolis, Mn, Robert Napoli |
| A.R. Dike | Director |
| Bruce R. Berkowitz | Director |
| Ian M. Cumming | Director |
| John R. Clay | Director |
Board of Directors
| Name (plus bio) | Position |
|---|---|
| James H. Greer | Chairman of the Board, Greer Capital Corporation |
| Kenneth H. Jones | Chairman |
| A. R. Dike | Board of Directors |
| B.J. McCombs | Board of Directors |
| Justin R. Wheeler | Board of Directors |
| Temple East South | Board of Directors |
DANIEL E. BERCE has been President and Chief Executive Officer since August 2005, and he serves on the Board of Directors. Previously, he served as the company's President from 2003 to 2005, and he was Chief Financial Officer from 1990 to 2003. Prior to joining AmeriCredit, he was an auditor with Coopers & Lybrand for 14 years and was a partner with the firm. He is a Certified Public Accountant.
| Organization | Position | Status |
|---|---|---|
| AmeriCredit Corp. | President and Chief Executive Officer | Current |
| AZZ Incorporated | Board of Directors | Current |
| Cashland | Board of Directors | Current |
| Cash America International, Inc. | Board of Directors | Current |
| AmeriCredit Corp. | Board of Directors | Current |
| AmeriCredit Corp. | Chief Financial Officer | Former |
| AmeriCredit Corp. | President and Director | Former |
| AmeriCredit Corp. | Executive Officer (Principal Executive Officer) | Former |
| AmeriCredit Corp. | Vice Chairman | Former |
Chris A. Choate has been Chief Financial Officer since February 2005. Previously, he was Executive Vice President, Chief Legal Officer and Secretary of the Company from 1999 to 2005. He served as General Counsel and Secretary from 1993 to 1999 after joining AmeriCredit as Assistant General Counsel in 1991. Prior to joining the company, Mr. Choate was with Jones, Day, Reavis and Pogue in Dallas, Texas.
| Organization | Position | Status |
|---|---|---|
| AmeriCredit Corp. | Chief Financial Officer | Current |
| AmeriCredit Corp. | Executive Vice President | Current |
| AmeriCredit Corp. | Treasurer | Current |
| AmeriCredit Corp. | Assistant General Counsel | Former |
| Organization | Position | Status |
|---|---|---|
| AmeriCredit Corp. | Executive Vice President, Co-Chief Operating Officer | Current |
| Dealer Services | President | Former |
| AmeriCredit Corp. | President | Former |
| Servicing Corporation | Chief Operating Officer | Former |
| Servicing Corporation | Executive Vice President | Former |
| AmeriCredit Corp. | Dealer Services | Former |
| Organization | Position | Status |
|---|---|---|
| AmeriCredit Corp. | Executive Vice President, Coo, Originations | Current |
| PricewaterhouseCoopers | auditor | Former |
| Organization | Position | Status |
|---|---|---|
| AmeriCredit Corp. | CIO | Current |
| Organization | Position | Status |
|---|---|---|
| AmeriCredit Corp. | Chief Operating Officer, Servicing | Current |
| AmeriCredit Corp. | President, Dealer Services | Former |
| AmeriCredit Corp. | Executive Vice President | Former |
| AmeriCredit Corp. | Senior Officer, Dealer Services | Former |
| Organization | Position | Status |
|---|---|---|
| AmeriCredit Corp. | Co-Chief Operating Officer | Current |
| Organization | Position | Status |
|---|---|---|
| AmeriCredit Corp. | Chief Credit Officer | Current |
| AmeriCredit Corp. | Executive Vice President | Current |
| Risk Management, Inc. | Assistant Vice President | Former |
| Bank One Corp | Financial Management Positions | Former |
BRIAN S. MOCK has been Executive Vice President of Consumer Services at AmeriCredit since 2002. Previously, he was Senior Vice President of Operational Services from 2001 to 2002. Prior to joining the company, he served over 14 years in a variety of management positions in sales and marketing, collections, and credit policy at Ford Credit.
| Organization | Position | Status |
|---|---|---|
| AmeriCredit Corp. | Executive Vice President, Consumer Services | Current |
KYLE R. BIRCH has been Executive Vice President of Dealer Services at AmeriCredit since May 2003. Previously, he was Senior Vice President of Dealer Services from 1999 to 2003. Mr. Birch joined AmeriCredit in 1997 as part of the Strategic Alliances group, where he established our National Credit Center and helped build our company’s dealer group alliance relationships. Prior to joining the company, he worked for the FDIC for 12 years. He has more than 25 years of experience in the financial services industry.
| Organization | Position | Status |
|---|---|---|
| AmeriCredit Corp. | Executive Vice President | Current |
| F&I Conference and Expo | Executive Vice President, Dealer Services Americredit | Current |
| Federal Deposit Insurance Corporation | Former |
SUSAN B. SHEFFIELD has been Executive Vice President of Structured Finance at AmeriCredit since July 2008. She served as Senior Vice President, Structured Finance, from 2004 to 2008 and Vice President, Structured Finance, from 2003 to 2004. Mrs. Sheffield joined AmeriCredit in 2001 as part of the Investor Relations department. Prior to joining the company, she worked in corporate and commercial banking for 13 years, primarily for JPMorgan and Wells Fargo Bank. Mrs. Sheffield has more than 20 years of experience in the financial services industry.
| Organization | Position | Status |
|---|---|---|
| AmeriCredit Corp. | Executive Vice President of Structured Finance | Current |
| Organization | Position | Status |
|---|---|---|
| Exeter Finance Corp. | Chief Credit Officer | Current |
| AmeriCredit Corp. | Senior Vice President of Risk Management | Current |
| Organization | Position | Status |
|---|---|---|
| AmeriCredit Corp. | Senior Vice President, Marketing | Current |
HOWARD COBHAM is Senior Vice President of Dealer Services, Canada. He has 16 years' experience in the automotive and finance industries. Prior to joining AmeriCredit, he managed the national sales team for FinanciaLinx Corporation, an auto finance company in Canada. During his tenure, Mr. Cobham also oversaw the company's business relationships with auto manufacturers that outsource their vehicle leasing programs. ROSS CUNNINGHAM is Vice President of Sales and Marketing, Dealer Services, Canada. He has more than 20 years of experience in the automotive financing industry. Prior to joining AmeriCredit, he oversaw incentives and advertising as national marketing manager for Kia Canada Inc. Mr. Cunningham has also held senior positions in marketing and sales at FinanciaLinx Corporation, Nissan Canada Inc. and Hyundai Auto Canada Inc. RON GASS is Vice President of Credit and Operations, Dealer Services, Canada. He has 30 years of experience in the automotive financing industry. Prior to joining AmeriCredit, he managed automotive commercial accounts in southwestern Ontario. Mr. Gass has also held senior positions in sales at Bank of Nova Scotia and TFI Transnational Finance Inc., as well as senior positions in risk management and sales at CIBC Finance Inc.
| Organization | Position | Status |
|---|---|---|
| AmeriCredit Corp. | Senior Vice President of Dealer Services Canada | Current |
| Kia Canada Inc | National Marketing Manager | Former |
| The Bank of Nova Scotia | Former | |
| Hyundai Auto Canada | Former | |
| Nissan Canada Inc. | Former |
| Organization | Position | Status |
|---|---|---|
| AmeriCredit Corp. | Senior Vice President | Current |
| Organization | Position | Status |
|---|---|---|
| AmeriCredit Corp. | Vice President, Investor Relations | Current |
Dan Heinrich serves as the Vice President of Asset Remarketing for AmeriCredit, a leading independent automobile finance company that provides financing solutions indirectly through auto dealers and directly to consumers in the United States and Canada. Heinrich has been with AmeriCredit for over six years in many roles including Marketing, eServices, Project Management, and Product Development. In his current role he leads a team responsible for the liquidation of repossessed assets through the utilization of auto auctions across the United States and Canada. Heinrich has a Bachelor of Business Administration in Marketing from Texas Tech University in Lubbock, Texas.
| Organization | Position | Status |
|---|---|---|
| AmeriCredit Corp. | Vice President of Asset Remarketing | Current |
| Conference of Automotive Remarketing | Vice President of Asset Remarketing, Americredit | Current |
| Texas Tech University | Bachelor of Business Administration In Marketing | Former |
| Organization | Position | Status |
|---|---|---|
| AmeriCredit Corp. | Assistant Vice President, Investor Relations | Current |
JOHN R. CLAY has been a director since June 2003. Mr. Clay was Chief Executive Officer of Practitioners Publisher Company, Inc., a leading publisher of accounting and auditing manuals for CPA firms, from 1979 to 1999. Mr. Clay has also served 12 years as a public accountant, in accounting first with Ernst & Ernst and later as a partner with Rylander, Clay & Opitz. Mr. Clay is a certified public accountant and has authored several accounting articles and financial publications.
| Organization | Position | Status |
|---|---|---|
| AmeriCredit Corp. | Vice President, Public Relations and Communication | Current |
| Organization | Position | Status |
|---|---|---|
| AmeriCredit Corp. | Vice President | Current |
| M O T A | Board of Directors | Current |
| The Campbell Group | Partner | Former |
| Boston College | Former |
| Organization | Position | Status |
|---|---|---|
| AmeriCredit Corp. | Vice President of Credit and Operations, Dealer Services Canada | Current |
| Organization | Position | Status |
|---|---|---|
| AmeriCredit Corp. | Vice President of Sales and Marketing, Dealer Services Canada | Current |
DOUGLAS K. HIGGINS has been a director since 1996. Mr. Higgins is a private investor and owner of Higgins & Associates and has been in such position since July 1994. Mr. Higgins served as the President and Chief Executive Officer of H&M Food Systems Company, Inc. from 1983 through 1994. Mr. Higgins is also a director of Worth Bancorporation, a multi-branch bank operating in Tarrant County, Texas.
| Organization | Position | Status |
|---|---|---|
| AmeriCredit Corp. | Owner, Higgins & Associates | Current |
| Higgins and Associates | Owner | Current |
| AmeriCredit Corp. | Board of Directors | Current |
| Organization | Position | Status |
|---|---|---|
| AmeriCredit Corp. | Public Relations Manager | Current |
JAMES M. FEHLEISON has been Executive Vice President, Controller, at AmeriCredit since October 2004. He oversees most of the company's financial departments. Previously, he was Senior Vice President, Controller, from 2000 to 2004. Prior to joining AmeriCredit, he was Chief Financial Officer for a Dallas brokerage firm. He has also held senior financial positions at Fidelity Investments. Mr. Fehleison has more than 27 years of experience in the financial services and accounting industries.
| Organization | Position | Status |
|---|---|---|
| AmeriCredit Corp. | Executive Vice President, Controller | Current |
| Organization | Position | Status |
|---|---|---|
| Cash America International, Inc. | Director | Current |
| AmeriCredit Corp. | Executive Benefits | Current |
| Sci Management Corp. | Chair | Current |
| Sci Management Corp. | Board of Directors | Current |
| Texas Society of Certified Public Accountants | Board of Directors | Current |
| American Institute of Certified Public Accountants | Board of Directors | Current |
| Service Corporation International | Board of Directors | Current |
| Texas Society of Certified Public Accountants | Member | Current |
| American Institute of Certified Public Accountants | Honorary Member | Current |
| AmeriCredit Corp. | CEO | Former |
| AmeriCredit Corp. | President | Former |
| Cash America International | Chief Financial Officer | Former |
| Cash America International, Inc. | Chief Financial Officer | Former |
| Service Corporation International | Vice President and Treasurer | Former |
| AmeriCredit Corp. | Chairman of the Board | Former |
| Organization | Position | Status |
|---|---|---|
| AmeriCredit Corp. | Piper Jaffray & Co., Minneapolis, Mn | Current |
| Organization | Position | Status |
|---|---|---|
| AmeriCredit Corp. | Piper Jaffray & Co., Minneapolis, Mn, Robert Napoli | Current |
JAMES H. GREER has been a director since 1990. Mr. Greer is Chairman of the Board of Greer Capital Corporation as well as President of two companies involved in real estate and commercial real estate development and management. From 1985 to 2001, Mr. Greer served as Chairman of the Board of Shelton W. Greer Co., Inc., which engineers, manufactures, fabricates and installs building specialty products. Mr. Greer previously served as a director for several banks and financial institutions.
| Organization | Position | Status |
|---|---|---|
| AmeriCredit Corp. | Chairman of the Board, Greer Capital Corporation | Current |
| AmeriCredit Corp. | Director | Current |
| Organization | Position | Status |
|---|---|---|
| AmeriCredit Corp. | Chairman | Current |
| AmeriCredit Corp. | Director | Current |
| AmeriCredit Corp. | Private Investor | Former |
| KBK Capital Corporation | Vice Chairman | Former |
A.R. DIKE has been a director since 1998. Mr. Dike is the President and Chief Executive Officer of The Dike Company, Inc., a private insurance agency, and has been in such position since July 1999. Prior to July 1999, Mr. Dike was President of Willis Corroon Life, Inc. of Texas, and was in such position for more than five years. Mr. Dike previously served as a director for several insurance companies. Mr. Dike served as a director of JPMorgan Chase Bank of Tarrant County and its predecessor banks from 1977 though 1988 and currently serves as an advisory director. Mr. Dike is also a director of Cash America International, Inc., a publicly held pawn brokerage company.
| Organization | Position | Status |
|---|---|---|
| AmeriCredit Corp. | Board of Directors | Current |
| Organization | Position | Status |
|---|---|---|
| AmeriCredit Corp. | Director | Current |
| Organization | Position | Status |
|---|---|---|
| AmeriCredit Corp. | Board of Directors | Current |
Mr. Berkowitz has been the Managing Member of Fairholme Capital Management, L.L.C., a registered investment advisor, since June 1997 and President and Director of Fairholme Funds, Inc., a registered investment company under the Investment Company Act of 1940, since December 1999. Mr. Berkowitz is a director of White Mountains Insurance Group, Ltd., a publicly held property and casualty insurer, and also serves as a director of TAL International Group, Inc., a publicly traded lessor of intermodel freight containers.
| Organization | Position | Status |
|---|---|---|
| White Mountains Insurance Group, Ltd. | Director | Current |
| Tal International Corporation | Director | Current |
| AmeriCredit Corp. | Director | Current |
| Winthrop Realty Trust - Investor Relations Template | Board of Directors | Current |
| Tal International Group Inc. | Director | Former |
| Fairholme Capital Management, LLC | Managing Member | Current |
| Organization | Position | Status |
|---|---|---|
| Leucadia National Corporation | Chairman of the Board and Chief Executive Officer | Current |
| Premier Inc. | Member, Board of Managers | Current |
| The FINOVA Group, Inc. | Chairman of the Board | Current |
| Jefferies Group, Inc. | Director | Current |
| AmeriCredit Corp. | Director | Current |
| Voteproxy | Board of Directors | Current |
| SkyWest Inc. | Director | Current |
| Homefed Corp | Director | Current |
| Fortescue | Director | Current |
| The FINOVA Group, Inc. | Board of Directors | Former |
| Leucadia National Corporation | Director | Former |
| Organization | Position | Status |
|---|---|---|
| AmeriCredit Corp. | Director | Current |
| AmeriCredit Corp. | Private Investor | Current |
| The Rylander Company Inc. | Partner | Former |
| The Rylander Company Inc. | Accountant | Former |
| Ernst & Ernst | Accountant | Former |
Array
| Organization | Position | Status |
|---|---|---|
| Leucadia National Corporation | Vice President | Current |
| Conwed Plastics | Chairman | Current |
| AmeriCredit Corp. | Board of Directors | Current |
| Sangart, Inc. | Board of Directors | Current |
| International Assets Holding Corporation | Board of Directors | Current |
| Leucadia National Corporation | President, Asset Mgmt Group | Former |
| Leucadia National Corporation | Executive of the Asset Management Group | Former |
| Utah State University | Bachelor of Science | Former |
| Organization | Position | Status |
|---|---|---|
| AmeriCredit Corp. | Board of Directors | Current |
Executive News
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Do Your Homework
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AmeriCredit Posts 4Q Profit; Looks to Sign Up Dealers
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AmeriCredit reports 4Q earnings
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AmeriCredit posts $31M profit
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AmeriCredit posts $31M profit
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AmeriCredit F4Q09 (Qtr End 6/30/09) Earnings Call Transcript
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