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A great run by Jim, delivering outstanding performance over almost 3 decades. A rare achievement in today’s world of business.
More time for HOCKEY!
Adesa needs to make major changes before it bleeds out! Adesa was losing money in 2019 BEFORE the Pandemic (you can research it online.) Adesa KAR haphazardly purchased multiple digital online companies in fear of not be relevant in the decades to come. Combined this has cost Adesa one billion dollars! (Openlane, Trade Rev, Backlot and others) While killing and shutting down the legacy brick and mortar live auction business that gave Adesa the cash to make these purchases. The majority of Adesa KARs competitors which are independent auto auctions across the country are having record breaking profitable years. While KAR Adesa lost over one hundred million in a single quarter and its stock price is tanking. It’s time to stop blaming the pandemic and reopen your live auctions before you have no accounts left.