Champion Parts Notice of Sale

CHAMPION PARTS - NOTICE OF PUBLIC SALE

NOTICE IS HEREBY GIVEN that on March 5, 2008, at 10:00 a.m. (the “Date of Sale”) in the offices of Vedder Price P.C., 222 North LaSalle Street, Suite 2600, Chicago, Illinois, the secured party PNC Bank National Association (”Seller”), pursuant to (i) Section 9 610 et seq. of the Revised Uniform Commercial Code as adopted under Arkansas and other applicable law, (ii) that certain Revolving Credit Loan and Security Agreement dated as of August 10, 2004 (as amended, modified, supplemented and restated from time to time, the “Loan Agreement”) between Seller, as lender, and Champion Parts, Inc., as borrower (”Borrower”), and (iii) that certain Order Granting The Motion of PNC Bank National Association for Relief From the Automatic Stay of the United States Bankruptcy Court Western District of Arkansas (Case No. 07-73253) dated January 29, 2008 (the “Lift-Stay Order”), will hold a public auction to offer for sale all of Borrower’s right, title and interest in and to the following assets, wherever located, in which Seller has a security interest: Lot 1 – Inventory consisting of Finished Goods, Components and Cores. The Finished Goods include Air Conditioning Compressors and other A/C Parts, Carburetors, Alternators, Starters, CV Drive Axles and other remanufactured automotive products. The Components include small parts used in the remanufacturing process of the Finished Goods. The Cores include the basic core units and components used in the production of the Finished Goods. Lot 2 –Equipment, machinery and furnishings used in the remanufacturing of A/C compressors, carburetors, alternators, starters, CV drive axles and other products. Lot 3 - Intellectual Property including the company name, web domain, engineering data, designs, records and other company property, (collectively, the “Assets”).

Terms and Conditions of Sale. The Assets will be sold in three separate lots as set forth above to the respective bidder with the highest or otherwise best bid for each lot, for cash except as otherwise provided herein, “AS IS, WHERE IS” with all faults and without any express or implied representations or warranties whatsoever, including, without limitation, warranties of merchantability, quiet enjoyment or fitness for a particular purpose or as to the title, value or quality of the Assets. Seller reserves the right, on or prior to the Date of Sale, to modify, waive or amend any terms or conditions of the sale or impose any other terms or conditions on the sale and, if Seller deems appropriate, to reject any bids or to continue the sale without prior notice. Seller reserves the right to credit bid for the Assets at the sale. The successful bidder will be required to pay the purchase price in cash, wire transfer or by certified check on the Date of Sale. Requests for inspection of the Assets should be directed to Joe Wingate, Great American Group, LLC, c/o Champion Parts-Hope AR, 2005 W. Avenue B, Hope, AR 71801, (870) 777-8821, ext. 126 or (714) 381-0862 (cell). All other inquiries should directed to Ryan O. Lawlor, Esq., Vedder Price P.C., 222 North LaSalle Street, Suite 2600, Chicago, Illinois 60601 1003, (312) 609-7500, (312) 609 5005 (fax).

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by Noah Joseph

Quebec is probably the last place in North America where some businesses are still forbidden to open on weekends. Although the practice has long since dissipated in other retail sectors, car dealerships in Montreal still adhere to an archaic 35-year-old policy that dates back to when the Catholic church still had a strong hold on French Canadian society.

One dealership in this writer’s home town is departing from that policy, and he’s facing tough opposition. Pie IX Dodge Chrysler (pronounced pee nuf, on the street named after Pope Pius the 9th) is a dealership on the island’s predominantly French east end, next to the Olympic stadium that once hosted the Montreal auto salon before it moved to the convention center downtown. They decided to open on weekends, selling cars on Saturday and Sunday, a move opposed by other area dealerships and their association (which also organizes the annual car show). Pie IX’s sales have gone up, despite the protests outside. The demonstrators include salesmen from other dealerships (which remain closed on the weekend) and from nearby used car lots (which are open on the weekend). If new car dealerships were to open on weekends, the association says the salesmen will be overworked, while the used car lots will lose business. One protestor even went so far as to hit the manager at Pie IX Dodge Chrysler in the head with a block of ice and was arrested for assault. Demonstrators were also thought to have jammed the dealership’s phone lines.

Despite the opposition, and with support from DaimlerChrysler, owner Claude Leclair says he plans to keep his dealership open on weekends, quoting sales figures of over a dozen cars each weekend, while competing dealerships are suspected to be operating in the red. Kinda gives new meaning to the old Quebec separatist slogan “Vive la Quebec Libre” – long live a free Quebec.

[Source: The Montreal Gazette via Jalopnik]

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Senators in California are close to passing a bill that would prohibit smoking in vehicles carrying children who are required by law to ride in a child seat. The bill proposed by Assemblyman Paul Koretz (D-West Hollywood) recently received a 23-14 vote that sent it back to the Assembly, and with our underdeveloped comprehension of state politics we can’t really tell you how close that means the bill is to landing on the Governator’s desk, but we think it’s pretty close. And to think I was freaked out when I last visited California because I couldn’t light up in a bowling alley. A bowling alley!
Proponents argue that the bill is an attempt to “protect the health of children who cannot protect themselves.” We’ll let that one go because we’re sure you’ll pick it up in the comments, but we will point out something else from the linked article, which is that on the same day the smoking ban was approved the California Senate shot down an alternative fuel bill. This bill would require that at least half of the vehicles sold in California be classified as clean-running alternative vehicles by 2020.

Why bring up both bills? Well, because it seems like the smoking ban bill is something that can be easily passed and forgotten about until election time, whereas the alternative fuel bill, which would join a host of other strict California emissions laws, would be a logistical nightmare. It would no doubt infuriate the auto industry to no end, which does still have some political clout in this country, as we’re sure it’s getting tired of the Golden State single-handedly setting this nation’s environmental policy when it comes to autos.

Thanks for tip, James!

[Source: Mercury News]

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