Oh, oh Rog…

[Advocate]

“In case they do not reach a deal, AIG's lawyers at Weil, Gotshal & Manges LLP were preparing for the possibility of bankruptcy, CNBC said.”

Hope that resume is ready... :D

http://www.reuters.com/article/topNews/idUSTRE51M6LT20090224?feedType=RSS&feedName=topNews

"Now I am become Death, the destroyer of worlds." - J. Robert Oppenheimer 1945

[Pam]

..quote appearing in a Carstar interview where he stated, "there are still too many seedy body shops out there."

Perhaps there are still too many "seedy" insurers operating out there? Besides, I am tired of bailing out any more of these companies.

When will they learn to become "lean" and financially solvent? Tsk, tsk, tsk. :rolleyes:

[OhioBodyGuy]

Last week I deposited three checks from GMAC insurance. I thought, "hope these don't bounce. A friend of mine who has a shop north of me said his bank has already warned him that some insurance checks may be become a problem when deposited.

What do the banks know that we don't? Or maybe we know already and cant believe what we are seeing.

[tom rodman]

I hate to deposit a check before a job is done but its alarming to hear that I could be handed a bad insurance check. :eek: I never imagined....

[Pam]

..of repair work to a vehicle BEFORE actually receiving any money, whether it's the insurance draft or customer deductible.

That was the past, but this is today's reality.

Try and get a roofer, remodeler or landscaper to order anything, or perform repairs without first obtaining a very significant deposit from you. Our roofer demanded a third down just to get us on the "list" and to get our materials ordered. Same with the landscaper and home remodeler. They were stuck with some exotic, special order lumber....only once! They learned their lesson and it was never allowed to happen again.

So why is it collision repairers are still too intimidated even today to ask for a deposit prior to ordering thousands of dollars worth of parts and materials? It makes perfect sense to me.

Of course if you're a DRP, well, as Advocate always says: :D

[admin]

Outstanding point. It only takes a good hit or two in the pocket book to put you down for the count. I think.....that cash will find its' way again......because credit card issuers are going to basically get out of business.....and everyone is getting stung on bounced checks......people understand why they need to pay either up front or allow you to verify funds or keep the car until the money is in your account. I got hit once......about $6000, a customer I was trying to "help". Never again.

[Mark Cobb -ME]

I have required a deposit for over 25 years. Never had an issue getting it either. Won't start a repair unless I have one......No bad payment issues either....seems theymust work hand and hand...............:p

[mastertech]

I either get the car or a deposit and sometimes both. I even take your insurance check for a deposit.

[Mark Cobb -ME]

Car and deposit then I start repairs. If I have to order parts it is only after getting a deposit first.......

Remember this is MY business.......My policies not anyone elses.........that is a concept that seems to be an issue for others.....

[MarkFP]

and policies... I just finished a phone converastion with a third-party admin company for Marathon Oil. The Marathon car damaged my customer's vehicle.
Adjuster: "How do you justify charging $60.00 per hour and actual material usage?"
Me: That's what we charge... for quite some time I might add"
Adjuster: "Well the highest labor rate in your area is $54.00 and that is all the company has authorized me to pay"
Me: No... the highest labor rate in the area is $60.00 and that is me... and that is the amount I have authorized my company to accept."

After this conversation I e-mailed the legal department of Marathon Oil and informed them that as I was not sure who to contact at their company all future communications would be with their CEO...

Someone called a few minutes ago to request our final charges, they said that Marathon had made a "business decision" to pay the total charged.

This did take about 15 extra minutes in keyboard and phone time, but it was worth it ... I was able to hone by third-party betterment and DV arguments... next time 10 minutes should do. :D