In 1972, Automotive Fleet interviewed the group of young veterans who headed up senior management at Gelco Corp. Their goals, they said, were to concentrate on client services to match the corporate fleet needs with the objective of dynamic group. Read our full story on Gelco from 1972 here.
PARADISE VALLEY, AZ - N. Bud Grossman, co-founder of General Leasing Company (later named Gelco) and past president of the American Automotive Leasing Association (AALA), passed away Jan. 11 from Alzheimer's disease at his home in Paradise Valley, Ariz. He was 88.
EDEN PRAIRIE, MN – GELCO and GE Fleet Services sued Hecker and four of his businesses in federal court May 13 for allegedly defaulting on $7.2 million in car leases that Hecker personally guaranteed, according to the Star Tribune.
BLOOMINGTON, MN – Lloyd Leslie McPherson, former executive vice president of Gelco Leasing Corporation, passed away April 18 after a long, courageous battle with Alzheimer's. He was 85.
Yes, dealers still officially sell every one of the 2.5 million new cars and one million new light trucks sold into fleet each year. That's the good news. The not-so-good news is that it's hard to find the old-time reliable dealer anymore. In the name of progress, evolution, and sharper negotiation, a new breed has emerged.
To celebrate Automotive Fleet's 30th anniversary, Bobit Publishing would like to honor the top 30 individuals, both past and present, who have made significant contributions to the automotive fleet industry.
Industry leader passes away
GE Capital purchased McCullagh Leasing from the Bank of New England to expand into the regional, small to mid-sized fleet market. GE Capital's strategy is to maintain McCullagh's U.S. operation as a separate entity.
Named to run GE Capital Fleet Management Services is Jim Rogers, a 15-year veteran of GECC. In an exclusive interview, Rogers discusses the integration of Gelco Fleet Management Services with Kerr Leasing and D&K Financial.
It’s a mature market characterized by canny lessees, innovative financing, new emphasis on vehicle services, and heightened competition for regional primacy. And it could all change – overnight. That’s the consensus of experts Automotive Fleet asked to forecast the future of U.S. commercial vehicle leasing.
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