|
Getting something out of nothing is what this junkyard doggedly pursues. Insurance Auto Auctions (IAA) is a leading US auto salvage company that auctions off cars declared a total loss for insurance purposes; it auctions either whole vehicles or, if they can't be fixed, just the parts. IAA has about 150 auction sites throughout North America. It primarily sells on consignment or buys the cars outright, negotiating salvage contracts with major insurers, but IAA is trying to transition more of its business to a percentage-of-sale basis, in which its salvage clients (including State Farm, Farmers Insurance, and Allstate) get a percentage of the auction sale price. Founded in 1982, IAA is owned by KAR Holdings.
|
| | | Contact Information | |
Address: |
2 Westbrook Corporate Center, Ste. 500
Westchester, IL 60154
| | Phone: | 708-492-7000 | | Fax: | 708-492-7078 |
|
| Financial
Highlights | | Fiscal Year End: | December | | Revenue (2007): | 332.10 M | | Employees (2007): | 1,066 |
|
|
Key People
| | • |
President, CEO, and Director:
Thomas C. (Tom) O'Brien
| | • |
SVP and COO:
David R. Montgomery
| | • |
SVP and CFO:
John W. Kett
|
|
|
