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. Berce
Number of Employees 3,832
Contact Information

801 Cherry St Ste 3900

Fort Worth, Texas 76102-6803

americredit.com

(817) 302-7000

NAICS Code Consumer Lending: 522291

Recent Events

  • AmeriCredit director resigns

    11/17/09 - Board Member - Entering - View Story

  • AmeriCredit Set New High For Year Thursday

    10/23/09 - Financial Announcement - View Story

  • FBR Capital Markets and Co. maintains AmeriCredit at 'market perform'

    10/08/09 - Bond / Stock Rating - View Story

  • AmeriCredit reports earnings for quarter

    10/22/09 - Financial Announcement - View Story

  • Fox-Pitt Kelton Cochran LLC initiates coverage of AmeriCredit at 'in line'

    9/29/09 - Bond / Stock Rating - View Story

  • Movers roundup: Comtech falls on analyst downgrade, AmeriCredit stock edges higher on upgrade

    9/25/09 - Bond / Stock Rating - View Story

  • Stifel Nicolaus & Co. upgrades AmeriCredit to 'hold'

    9/25/09 - Bond / Stock Rating - View Story

  • Fitch Affirms AmeriCredit Corp.'s IDR at 'B-'; Outlook Stable

    9/10/09 - Bond / Stock Rating - View Story

  • Fitch Affirms AmeriCredit Corp.'s IDR at 'B-'; Outlook Stable

    9/10/09 - Bond / Stock Rating - View Story

  • AmeriCredit Posts 4Q Profit; Looks to Sign Up Dealers

    8/10/09 - Financial Announcement - View Story

News & Analysis

americredit corp. - All News and Analysis

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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

  • Do Your Homework

    Forbes.com - 8/31/09 - View Story

  • AmeriCredit Posts 4Q Profit; Looks to Sign Up Dealers

    F&I Management & Technology - 8/10/09 - View Story

  • AmeriCredit reports 4Q earnings

    Fort Worth Business Press - 8/06/09 - View Story

  • AmeriCredit posts $31M profit

    Dallas Business Chronicle - 8/06/09 - View Story

  • AmeriCredit posts $31M profit

    Dallas Business Journal - 8/06/09 - View Story

  • AmeriCredit F4Q09 (Qtr End 6/30/09) Earnings Call Transcript

    Seeking Alpha - 8/06/09 - View Story

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     ACF $18.62 -0.25 (-1.32% )
Average Volume 1,422,600
Shares Outstanding 133.41M
Market Cap 2.5B
Year High 20.1
Year Low 3.07
Earnings Per Share 0.30
P/E Ratio 62.07
Dividend N/A
Yield N/A
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