Corey Shaker Named President &COO of Hometown Auto Retailers.Business Editors WATERTOWN, Conn.--(BUSINESS WIRE)--Feb. 9, 2000 Hometown Auto Retailers, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :HCAR HCAR Handoff Call Attempt Rate ), a leading consolidator and operator of automotive dealerships in the Northeast, is today announced that Corey E. Shaker, has been named President and 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. of Hometown to succeed Joseph Shaker. Joseph Shaker, will remain as a consultant and full member of the Hometown Board of Directors but will devote full attention to the launch of CarDay, the Internet based automobile auction company, slated to go live this spring. Hometown Auto Retailers is an investor in CarDay.com, which has received approximately $25 million from leading institutional investors including Goldman Sachs The Goldman Sachs Group, Inc., or simply Goldman Sachs (NYSE: GS) is one of the world's largest global investment banks. Goldman Sachs was founded in 1869, and is headquartered in the Lower Manhattan area of New York City at 85 Broad Street. , Odeon O`de´on n. 1. A kind of theater in ancient Greece, smaller than the dramatic theater and roofed over, in which poets and musicians submitted their works to the approval of the public, and contended for prizes; - hence, in modern usage, the Capital Partners, Sierra Ventures, and Citigroup Investments. CarDay.com is Hometown's revolutionary Internet-based car auction site. Corey Shaker previously held the position of Vice President and Director of Operations. In today's announcement, Joseph Shaker remarked that, &uot;Corey has the leadership and experience to further Hometown's strategic goals. He provides a clear vision as the company continues to grow through acquisitions and as it continues to reduce costs through consolidation.&uot; Joseph Shaker added, &uot;Corey's 30 years of industry experience provides the company with expertise in establishing and transferring best practices throughout the organization. Corey is well suited to implement business strategies that capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. emerging trends. This is an important asset as the industry gravitates toward technology based sales channels. His leadership, experience, and vision will provide for a successful future for the company. &uot; In accepting the position, Corey Shaker said, &uot;Our goals for the company are clear. We must continue to acquire dealerships in markets that create synergies with our existing operations; be leaders within our industry in creating efficiencies that maximize the profitability of our organization; and enhance revenue through superior sales and marketing techniques and innovative use of new distribution channels, including the Internet. Most importantly Adv. 1. most importantly - above and beyond all other consideration; "above all, you must be independent" above all, most especially , we must implement our strategy better than anyone else.&uot; Corey continued, &uot;Operationally, we have established aggressive company wide goals and objectives. In part, the objectives include world class training in sales and sales management Sales Management Role and Goal Importance of sales management is critical for any commercial organization. Expanding business in not possible without increasing sales volumes, and effective sales management goal is to organize sales team work in such a manner that ensures a and more effective use of technology throughout the company to enhance both our near-term and long-term performance.&uot; Corey Shaker's achievements within the retail automotive business have been recognized nationally. He has received numerous awards from several automotive manufacturers. A native of Connecticut, he received his bachelor's degree in Business Administration from Providence College
Hometown Auto Retailers, Inc. sells new and used cars and light trucks, providing maintenance and repair services, selling replacement parts and providing related financing, insurance and service contracts through 11 franchised dealerships located in New Jersey, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , Connecticut, Massachusetts and Vermont. The Company's dealerships offer 13 American and Asian automotive brands, including Chevrolet, Chrysler, Daewoo, Ford, Isuzu, Jeep, Lincoln, Mercury, Mazda, Oldsmobile, Plymouth and Toyota. The Company is active in two niche segments of the automotive market: the sale of Lincoln Town Cars The Lincoln Town Car is a rear wheel drive full-size luxury sedan and serves as the flagship of Ford's Lincoln luxury car division. Often referred to as a traditional American luxury sedan, the Town Car features a V8 engine, rear wheel drive, very generous exterior and interior and limousines to livery car and livery fleet operators and the maintenance and repair of cars and trucks at a Ford and Lincoln Mercury factory authorized free-standing service center. For more information, visit www.homeautoretailers.com. This release contains &uot;forward-looking statements&uot; based on current expectations but involving known and unknown risks and uncertainties. Actual results or achievements may be materially different from those expressed or implied. The Company's plans and objectives are based on assumptions involving judgments with respect to future economic, competitive and market conditions, its ability to consummate, and the timing of, acquisitions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the control of the Company. Therefore, there can be no assurance than any forward-looking statement forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. will prove to be accurate. |
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