Carbiz.com Strengthens Management; Leading US Auto Financing Expert and Former President of Advanced Dealer Services Takes Strategic New Position.Business Editors, Transportation Writers TORONTO--(BUSINESS WIRE)--June 1, 2000 Carl Ritter Carl Ritter (August 7, 1779 – September 28, 1859) was a German geographer. Along with Alexander von Humboldt, he is considered one of the founders of modern geography. From 1825 until his death, he occupied the first chair in geography at the University of Berlin. , Chairman 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. , is pleased to announce the appointment of Mr. Rick Reeves, one of the United States' foremost automobile financing experts, as the new President of Carbiz.com Inc(CDNX CDNX See Canadian Venture Exchange (CDNX). :CZ). "The Internet has radically changed society and Carbiz.com is fundamentally changing how the retail automotive industry The automotive industry is the industry involved in the design, development, manufacture, marketing, and sale of motor vehicles. In 2006, more than 69 million motor vehicles, including cars and commercial vehicles were produced worldwide. operates," said Reeves. Carbiz.com recently announced the acquisition of Reeves' Florida based company Advanced Dealer Services (ADS), that provides financing software, training and consulting services for over 650 automotive dealers in the U.S. "Rick Reeves' name is synonymous with synonymous with adjective equivalent to, the same as, identical to, similar to, identified with, equal to, tantamount to, interchangeable with, one and the same as automobile finance," said Carl Ritter, Carbiz.com Chairman and CEO. "His expertise in the finance area, coupled with our work in the rest of the market, is very exciting." "My mission," said Reeves, "is to build a Dream Team of Products, Services and People that will revolutionize the auto finance industry." Carbiz.com has exploded into the U.S., acquiring 5 'best in class' companies in the last 4 months bringing 4300 existing automobile dealer customer relationships and critical mass in terms of management, product line and diversification. These companies - Advanced Dealer Services, TAXMAX, Financial Business Systems, Computerized Automotive Technologies and United Autocomp Computer Inc. position Carbiz.com as the leader in Automotive Finance and Insurance ('F&I') software with over 5200 automotive dealer customers geographically diversified across North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. . Carbiz.com is a Toronto-based company that provides e-commerce software and solutions to financial institutions and the retail automotive industry resulting in cost savings and efficiencies in the research, purchase and financing of car transactions. Its flagship product, Full Spectrum 2000, enables automobile dealers to arrange "on-the-spot" financing for consumers by connecting the dealers to credit bureaus and financial institutions via the Internet. The Carbiz.com vision is to evolve to an Automotive Financing Portal providing Consumers with One Stop Shopping and Financing for Automobiles and Auto Services. The Canadian Venture Exchange The Canadian Venture Exchange (CDNX) is now a defunct stock exchange having been acquired by the TSX Group in 2001 and renamed the TSX Venture Exchange. History of the Canadian Venture Exchange (CDNX) has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. |
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