auto industry

US Fidelis Co-Founder Gets Eight Years In Prison

Rachel Lippmann — Tue, 25 Sep 2012 16:54:03 +0000

The St. Charles County man who once helped run the largest seller of extended auto warranty contracts will spend eight years in federal prison for bilking customers out of millions of dollars.

Darain Atkinson pleaded guilty to conspiracy and tax charges in April. He was sentenced to the maximum of eight years today, and must also pay $4 million in restitution.

Auto parts tax break endorsed by Mo. House

Marshall Griffin — Wed, 25 Apr 2012 22:28:38 +0000

The Missouri House has given first-round approval to legislation that would expand tax breaks for auto parts manufacturers.

Ford and General Motors already have access to the incentives. State Rep. Chuck Gatschenberger (R, Lake St. Louis), the bill’s sponsor, says it would expand the benefit to smaller auto parts builders.

Former owner of US Fidelis pleads guilty to state charges

Rachel Lippmann — Thu, 05 Apr 2012 21:30:11 +0000

Updated at 4:08 with comments from Attorney General Koster and Darain Atkinson's attorney.

Updated 3:58 with statement from the Better Business Bureau:

Mo. gov. details proposed auto supplier incentives

The Associated Press — Fri, 20 Jan 2012 20:31:53 +0000

Gov. Jay Nixon wants to offer larger incentives to a wider variety of automobile parts suppliers as part of a plan to rebuild the automotive industry in Missouri.

Nixon's administration provided details to The Associated Press of a plan the governor has been touting in broad terms for the past couple of weeks.

Nixon is seeking to expand special automotive industry incentives approved in 2010 that have been used to persuade Ford and General Motors to expand operations at Missouri plants. The 2010 law also authorized incentives for suppliers to automakers.

Morning headlines: Monday, January 2, 2012

Julie Bierach, Maria Altman, WUIS and The Associated Press — Mon, 02 Jan 2012 15:23:40 +0000

Last provision of Mo. law aimed at curbing auto extended service contract industry takes effect

Republican Senator Scott Rupp sponsored the legislation after he says he received lots of complaints about the businesses in his suburban St. Louis district.

The last portion of the law to take effect requires the extended contract service providers, and their employees, to apply for a license with the Missouri Department of Insurance.