The following is a correction to a news item that ran in the October 18, 2002 VR Reporter newsletter. Bank One awarded Chattanooga Auto Auction with The One Award for best performance, repossessions, in the Southeastern region. Chattanooga Auto Auction is an independently owned auction, and the only independent auction to be recognized by Bank One.

Robert Sullivan, general managing partner of Chattanooga Auto Auction, credits their success with Bank One to a committed staff, a multi-tiered marketing program that keeps energy high and sales strong in the auction lane, and a favorable location. Chattanooga Auto Auction is within two hours from five major cities in the Southeast, which gives the auction a large dealer base.

In The One Awards competition, 31 auctions are judged in categories including retention, efficiency, expenses, sales, and adherence to Bank One reconditioning standards. Bank One presented this award to Chattanooga Auto Auction at a special ceremony held during the National Auto Auction Association Convention in New York City in September.