1-800-AUTOTOW, Inc. Closes and Proceeds to Liquidate Certain Non-Performing Subsidiaries; Director Resigns.Business Editors LAKE WORTH, Fla.--(BUSINESS WIRE)--Dec. 13, 2000 Leonard D. Levin, as acting President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of 1-800-AUTOTOW, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :AUTWE), www.1800autotow.com, a consolidator of vehicle towing companies, announced today that the Company closed three subsidiary operations on Dec. 6, 2000, that have consistently been losing money. The operations are Dixie Grande Towing in Bradenton, Fla., Arrow Towing in St. Petersburg, Fla. and A. Ace Towing in San Antonio, Texas “San Antonio” redirects here. For other uses, see San Antonio (disambiguation). San Antonio is the second most populous city in Texas, the third most populous metropolitan area in Texas, and is the seventh most populous city in the United States. As of the 2006 U.S. . The Company is working with its major secured lender, FINOVA Capital Corporation, to effectively liquidate these operations. Levin was hired effective Oct. 25, 2000 to reorganize the Company and to achieve profitability. Eugene Iarocci resigned as a member of the Company's Board of Directors effective Dec. 1, 2000 and continues to act as the Company's chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. . The Board accepted Iarocci's resignation accordingly. |
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