BNET Industries
Market Cap:$12.9M
Last Fiscal Year Sales:$368.4M
- Public
- US
Dow Jones Description
We are a specialty finance company engaged in purchasing and servicing retail automobile contracts originated primarily by franchised automobile dealers and, to a lesser extent, by select independent dealers in the United States in the sale of new and used automobiles, light trucks and passenger vans. Through our automobile contract purchases, we provide indirect financing to the customers of dealers who have limited credit histories, low incomes or past credit problems, who we refer to as sub-prime customers. We serve as an alternative source of financing for dealers, facilitating sales to customers who otherwise might not be able to obtain financing from traditional sources, such as commercial banks, credit unions and the captive finance companies affiliated with major automobile manufacturers. In addition to purchasing installment purchase contracts directly from dealers, we have also (i) acquired installment purchase contracts in three merger and acquisition transactions, (ii) purchased immaterial amounts of vehicle purchase money loans from non-affiliated lenders, and (iii) originated ourselves an immaterial amount of vehicle purchase money loans by lending money directly to consumers. In this report, we refer to all of such contracts and loans as "automobile contracts." We were incorporated and began our operations in March 1991. From inception through March 31, 2009, we have purchased a total of approximately $8.7 billion of automobile contracts from deale ...
President, Chief Executive Officer, and Chairman of the Board of DirectorsCharles E. Bradley
Number of Employees 681
Contact Information
16355 Laguna Canyon Rd
Irvine, California 92618-3801
(949) 753-6800
Peer Companies
NAICS Code Consumer Lending: 522291
Recent Events
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Consumer Portfolio Services, Inc. Reports 2009 First Quarter
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Consumer Portfolio Services CPSS Reports Large Q4 Loss
News & Analysis
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consumer portfolio service inc. - All News and Analysis
Consumer Portfolio Services, Inc. Q2 2008 Earnings Call Transcript
Question-and-Answer Session Operator Operator Instructions Our first question is coming from John Hecht of JMP Securities. Please, go ahead. John Hecht - JMP Securities Just a couple of moderate questions. You issued some new shares for a group associate with Levine and I think there was some...
Additional Resources
Consumer Portfolio Services, Inc. Reports 2009 First Quarter Operating Results
Consumer Portfolio Services, Inc. (NASDAQ: CPSS)("CPS" or the "Company") today announced operating results for its firstquarter ended March 31, 2009. Total revenues for the first quarter of 2009 were $66.1 million, a decreaseof approximately $37.3 million, or 36.1%, compared to $103.3 million forthe first quarter of 2008. Total operating...
Western Union, Consumer Portfolio Service and VeriSign Pilot Mobile Bill Pay Solution
Wireless News05-05-2009Western Union, Consumer Portfolio Service and VeriSign Pilot Mobile Bill Pay SolutionType: NewsThe Western Union Company, together with Consumer Portfolio Services Inc. CPS and VeriSign's Messaging and Mobile Media Division, announced a pilot project enabling CPS customers to trigger their monthly car payment directly from their mobile phone. ...
Western Union, Consumer Portfolio Service and VeriSign Team to Offer Mobile Bill Payment Solution
Pilot Allows CPS Customers to Trigger Payments Directly From Their Mobile Devices ENGLEWOOD, Colo. -- The Western Union Company...
Consumer Portfolio Services, Inc. Reschedules 2008 Fourth Quarter and Full Year Operating Results Conference Call to April 8, 2009
IRVINE, Calif. -- Consumer Portfolio Services, Inc. (Nasdaq: CPSS) today announced that it has rescheduled its 2008 4 th quarter and full year operating results conference call to...
Consumer Portfolio Services, Inc. Reports 2008 Fourth Quarter and Full Year Operating Results
IRVINE, Calif. -- Consumer Portfolio Services, Inc. (Nasdaq: CPSS) (âCPSâ or the âCompanyâ) today announced operating results for its fourth quarter and year ended December 31, 2008. ...
Consumer Portfolio Services, Inc. Reports 2008 Third Quarter Results
Consumer Portfolio Services, Inc. (NASDAQ: CPSS)("CPS" or the "Company") today announced results for its third quarterended September 30, 2008. Total revenues for the third quarter of 2008 decreased approximately $11.1million, or 10.8%, to $91.7 million, compared to $102.8 million for thethird quarter of 2007. Total operating expenses for the...
Consumer Portfolio Services, Inc. Announces 2008 3rd Quarter Results Conference Call- Wednesday, October 29th, 2008
IRVINE, Calif. -- Consumer Portfolio Services, Inc. (Nasdaq:CPSS) today announced that it will release its 2008 3rd quarter results after the market closes Tuesday, October 28, 2008. Management will then host a conference call on Wednesday, October 29, 2008 at 1:30 p.m. EDT to discuss the earnings. Dial-in...
Subprime Auto Lenders Hunker Down As Investors Turn Away from Loans
The county's two auto financiers of buyers with imperfect credit are back in survival mode. Consumer Portfolio Services Inc. and United PanAm Financial Corp., both of Irvine, make loans through auto dealers and then package them for sale as bonds to Wall Street. The companies had a nice...
CPS Completes $199 Million Whole Loan Sale
Consumer Portfolio Services, Inc. (NASDAQ: CPSS)today announced that it completed a structured whole loan sale last Friday,selling $198.7 million of automobile purchase receivables. In the transaction, an affiliate of Citigroup purchased 95% of structurednotes backed by automotive purchase receivables, while CPS purchased theremaining 5%. A portion of the cash...
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Decision Makers
| Name (plus bio) | Position |
|---|---|
| Jeffery P. Fritz | CFO & Senior Vice President |
| Robert E. Riedl | Senior Vice President, Finance and Chief Investment Officer |
| Chris Terry | Senior Vice President, Services |
| Curtis K. Powell | Senior Vice President, Contract Origition |
| Jayne E Holland | Senior Vice President of Operations |
| Jayne M. Holland | Senior Vice President, Operations |
| Mark A. Creatura | Senior Vice President |
| Michael T. Lavin | Senior Vice President |
| Teri L Clements | Senior Vice President |
| William L. Brummund | Senior Vice President, Operations |
| Prakash B Wadwhani | Executive Director |
| Brian J. Rayhill | Director of the Company |
| Gregory S Washer | Director of the Company |
| Denesh Bharwani | Controller |
| William B. Roberts | Director |
Board of Directors
| Name (plus bio) | Position |
|---|---|
| Charles E. Bradley | President, Chief Executive Officer, and Chairman of the Board of Directors |
| E. Bruce Fredrikson | Chairman |
| Chris A. Adams | Board of Directors |
| Daniel S. Wood | Board of Directors |
| John C. Warner | Board of Directors |
| John E. McConnaughy | Board of Directors |
| John G. Poole | Co-Chairman, Vice Chairman |
| Thomas L. Chrystie | Board of Directors |
Charles E. Bradley, Jr. has been President and a director since our formation in March 1991, and was elected Chairman of the Board of Directors in July 2001. In January 1992, Mr. Bradley was appointed Chief Executive Officer. From April 1989 to November 1990, he served as Chief Operating Officer of Barnard and Company, a private investment firm. From September 1987 to March 1989, Mr. Bradley, Jr. was an associate of The Harding Group, a private investment banking firm. Mr. Bradley does not currently serve on the board of directors of any other publicly-traded companies.
| Organization | Position | Status |
|---|---|---|
| Consumer Portfolio Services, Inc. | President, Chief Executive Officer, and Chairman of the Board of Directors | Current |
| Consumer Portfolio Services, Inc. | Board of Directors | Current |
| Barnard, Ltd. | Chief Operating Officer | Former |
| The Harding Group Inc. | Associate | Former |
| Colonial Commercial Corp. | Director | Former |
Jeffrey P. Fritz has been Senior Vice President and Chief Financial Officer since April 2006. He was Senior Vice President of Accounting from August 2004 through March 2006. He served as a consultant to us from May 2004 to August 2004. Previously, he was the Chief Financial Officer of SeaWest Financial Corp. from February 2003 to May 2004, and the Chief Financial Officer of AFCO Auto Finance from April 2002 to February 2003. He practiced public accounting with Glenn M. Gelman & Associates from March 2001 to April 2002 and was Chief Financial Officer of Credit Services Group, Inc. from May 1999 to November 2000. He previously served as our Chief Financial Officer from our inception through May 1999.
| Organization | Position | Status |
|---|---|---|
| Consumer Portfolio Services, Inc. | CFO & Senior Vice President | Current |
| Consumer Portfolio Services, Inc. | Board of Directors | Current |
| Credit Services Group | Chief Financial Officer | Former |
| Seawest Financial Corporation | Chief Financial Officer | Former |
Robert E. Riedl has been Senior Vice President and Chief Investment Officer since April 2006. Mr. Riedl was Senior Vice President and Chief Financial Officer from August 2003 until assuming his current position. Mr. Riedl joined the Company as Senior Vice President of Risk Management in January 2003. Previously, Mr. Riedl was a Principal at Northwest Capital Appreciation ("NCA"), a middle market private equity firm, from 2000 to 2002. For a year prior to joining Northwest Capital, Mr. Riedl served as Senior Vice President for one of NCA's portfolio companies, SLP Capital. Mr. Riedl was an investment banker for ContiFinancial Services Corporation from 1995 until joining SLP Capital in 1999.
| Organization | Position | Status |
|---|---|---|
| Consumer Portfolio Services, Inc. | Senior Vice President, Finance and Chief Investment Officer | Current |
| Northwest Capital Appreciation, Inc. | Principal | Former |
Christopher Terry has been Senior Vice President of Servicing since May 2005, and prior to that was Senior Vice President of Asset Recovery since January 2003. He joined us in January 1995 as a loan officer, held a series of successively more responsible positions, and was promoted to Vice President of Asset Recovery in June 1999. Mr. Terry was previously a branch manager with Norwest Financial from 1990 to October 1994.
| Organization | Position | Status |
|---|---|---|
| Consumer Portfolio Services, Inc. | Senior Vice President, Services | Current |
Curtis K. Powell has been Senior Vice President of Marketing since April 2007. Previously, he was our Senior Vice President of Originations from June 2001 through March 2007. Prior to that he was our Senior Vice President of Marketing from April 1995 through May 2001. He joined us in January 1993 as an independent marketing representative until being appointed Regional Vice President of Marketing for Southern California in November 1994. From June 1985 through January 1993, Mr. Powell was in the retail automobile sales and leasing business.
| Organization | Position | Status |
|---|---|---|
| Consumer Portfolio Services, Inc. | Senior Vice President, Contract Origition | Current |
Jayne E. Holland has been Senior Vice President of Operations since April 2007. Prior to that, she held the position of Vice President of Operations since June 1999 and has been with the company since 1993. Ms. Holland was previously the Assistant Vice President of Operations for Far Western Bank from 1986 through 1990, and has been in the auto finance industry since 1981.
| Organization | Position | Status |
|---|---|---|
| Consumer Portfolio Services, Inc. | Senior Vice President of Operations | Current |
| Organization | Position | Status |
|---|---|---|
| Consumer Portfolio Services, Inc. | Senior Vice President, Operations | Current |
Mark A. Creatura has been Senior Vice President and General Counsel since October 1996. From October 1993 through October 1996, he was Vice President and General Counsel at Urethane Technologies, Inc., a polyurethane chemicals formulator. Mr. Creatura was previously engaged in the private practice of law with the Los Angeles law firm of Troy & Gould Professional Corporation, from October 1985 through October 1993.
| Organization | Position | Status |
|---|---|---|
| Consumer Portfolio Services, Inc. | Senior Vice President | Current |
| Urethane Technologies Inc. | Vice President | Former |
| Urethane Technologies Inc. | General Counsel | Former |
| Organization | Position | Status |
|---|---|---|
| Consumer Portfolio Services, Inc. | Senior Vice President | Current |
Teri L. Clements has been Senior Vice President of Originations since April 2007. Prior to that, she held the position of Vice President of Originations since August 1998. She joined the Company in June 1991 as an Operations Specialist. Previously, Ms. Clements held an administrative position at Greco & Associates.
| Organization | Position | Status |
|---|---|---|
| Consumer Portfolio Services, Inc. | Senior Vice President | Current |
| Organization | Position | Status |
|---|---|---|
| Consumer Portfolio Services, Inc. | Senior Vice President, Operations | Current |
| Organization | Position | Status |
|---|---|---|
| Consumer Portfolio Services, Inc. | Executive Director | Current |
Brian Rayhill was elected a director of the Company in August 2006. Mr. Rayhill is a practicing attorney in New York State.
| Organization | Position | Status |
|---|---|---|
| Consumer Portfolio Services, Inc. | Director of the Company | Current |
| Consumer Portfolio Services, Inc. | Board of Directors | Current |
Gregory S. Washer was elected a director of the Company in June 2007. Mr. Washer has been president of Clean Fun Promotional Marketing LLC, a promotional marketing company, since its founding in 1986.
| Organization | Position | Status |
|---|---|---|
| Consumer Portfolio Services, Inc. | Director of the Company | Current |
| Consumer Portfolio Services, Inc. | Board of Directors | Current |
| Organization | Position | Status |
|---|---|---|
| Consumer Portfolio Services, Inc. | Controller | Current |
| Consumer Portfolio Services, Inc. | Controller | Current |
Dr. E. Bruce Fredrikson has been a Director of the Company since January 28, 2005. Dr. Fredrikson is currently an independent consultant in corporate finance and governance. He is Professor of Finance, Emeritus, at Syracuse University's Martin J. Whitman School of Management where he taught from 1966 until his retirement in May 2003. He is a director of Consumer Portfolio Services, Inc., a consumer finance company and of Track Data Corporation, a financial services company. Dr. Fredrikson holds an A.B. in economics from Princeton University and a M.B.A. in accounting and a Ph.D. in finance from Columbia University.
| Organization | Position | Status |
|---|---|---|
| Colonial Commercial Corp. | Director, Chairman of Audit Committee | Current |
| Syracuse University | Professor | Current |
| Track Data Corporation | Chairman of the Board | Current |
| Consumer Portfolio Services, Inc. | Chairman | Current |
| Track Data Corporation | Director | Former |
| Columbia University | Ph.D. In Finance | Former |
| Columbia University | M.B.A. In Accounting | Former |
| Princeton University | A.B. In Economics | Former |
Chris Adams has been a director of the Company since August 2007. Mr. Adams has been president and owner of Latrobe Pattern and K Castings Inc. since 1982.
| Organization | Position | Status |
|---|---|---|
| Latrobe Pattern | President | Current |
| Latrobe Pattern | Owner | Current |
| Consumer Portfolio Services, Inc. | Board of Directors | Current |
| Organization | Position | Status |
|---|---|---|
| Carclo Technical Plastics Ltd | President | Current |
| Consumer Portfolio Services, Inc. | Board of Directors | Current |
| Carrera | Chief Operating Officer | Former |
| Carrera | Co-Owner | Former |
John C. Warner was elected a director of the Company in 2003. Mr. Warner is part owner and retired Chief Executive Officer of O'Neill Clothing, a manufacturer and marketer of apparel and accessories. He has held those positions since 1996.
| Organization | Position | Status |
|---|---|---|
| Consumer Portfolio Services, Inc. | Board of Directors | Current |
| Organization | Position | Status |
|---|---|---|
| Jemc Inc | Chief Executive Officer | Current |
| Jemc Inc | Chairman | Current |
| Varsity Brands, Inc. | Board of Directors | Current |
| Wave Systems Corp. | Board of Directors | Current |
| Consumer Portfolio Services, Inc. | Board of Directors | Current |
| Overhill Farms, Inc. | Board of Directors | Current |
| Levcor International Inc. | Board of Directors | Current |
| Clearview Diversified Industries, Inc. | Director | Current |
| Fortune Natural Resources Corporation | Board of Directors | Current |
| Pets Choice | Board of Directors | Current |
| Arrow Resources Development Ltd | Board of Directors | Current |
| Arrow Resources Development Ltd | Chairman and Chief Executive Officer of Jemc Corporation | Former |
| Geo International | CEO | Former |
| The Singer Company | President | Former |
| The Singer Company | Vice President of European Consumer Products | Former |
| Geo International | Chairman | Former |
| The Harlem School of The Arts | Chairman | Former |
| OXiGENE, Inc. | Director | Former |
| Denison University | Former |
John G. Poole has been a director since November 1993 and our Vice Chairman since January 1996. He is now a private investor, having previously been a director and Vice President of Stanwich Partners, Inc. ( SPI ) until July 2001. SPI, which Mr. Poole co-founded in 1982, acquired controlling interests in companies in conjunction with their existing management. Mr. Poole is also a director of Reunion Industries, Inc.
| Organization | Position | Status |
|---|---|---|
| Monmouth Capital Corporation | President | Former |
| The-Industries | Director | Former |
| Stanwich Partners | Vice President | Former |
| Stanwich Partners | Director | Former |
| Organization | Position | Status |
|---|---|---|
| Consumer Portfolio Services, Inc. | Board of Directors | Current |
William B. Roberts has been a director of the Company since its formation in March 1991. Since 1981, he has been the President of Monmouth Capital Corp., an investment firm which specializes in management buyouts.
| Organization | Position | Status |
|---|---|---|
| Consumer Portfolio Services, Inc. | Director | Current |
Executive News
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Consumer Portfolio Services, Inc. Reports 2009 First Quarter
-
Consumer Portfolio Services, Inc. Reports 2009 First Quarter Operating Results
-
Consumer Portfolio Services, Inc.: Consumer Portfolio Services, Inc. Reports 2009 First Quarter Operating Results
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Consumer Portfolio Services, Inc. Reports 2009 First Quarter Operating Results
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