| Business Summary | | The
Major
Automotive
Companies,
Inc.,
formerly
Fidelity
Holdings,
Inc.,
sells
new
and
used
vehicles
through
the
Major
Dealer
Group,
a
consolidator
of
automobile
dealerships
in
the
New
York
metropolitan
area
that
operates
through
12
retail
automobile
franchises.
The
Company
owns
and
operates
seven
automobile
franchises
at
four
locations
in
Long
Island
City,
New
York,
three
franchises
in
three
locations
in
Hempstead,
New
York
and
two
franchises
in
two
locations
in
Orange,
New
Jersey.
Through
its
dealerships,
the
Company
sells
new
and
used
automobiles,
provides
related
financing,
sells
replacement
parts
and
provides
vehicle
repair
service
and
maintenance.
Its
leasing
operations
consist
of
providing
leases
and
other
financing.
On
July
12,
2001,
the
Company
sold
its
wholly
owned
Israeli
subsidiary,
C.
B.
S.
Computer
Business
Sciences,
Ltd.,
as
well
as
the
assets
of
its
wholly
owned
Canadian
subsidiary,
786710
Ontario
Ltd.
(d/b/a
Info
Systems). | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | Major
Automotive
Companies,
Inc.,
is
a
holding
co.
for
Major
Automotive
Group,
a
consolidator
of
automobile
dealerships
in
the
NY
area
that
operates
through
retail
automobile
dealerships.
For
the
three
months
ended
3/31/01,
revenues
increased
30%
to
$88.1
million.
Net
income
from
continuing
operations
rose
9%
to
$786
thousand.
Revenues
reflect
increased
unit
sales.
Net
income
was
partially
offset
by
increased
advertising
and
compensation
expenses. Recent Earnings Announcement For
the
3
months
ended
06/30/2001,
revenues
were
102,324;
after
tax
earnings
were
-62. (Preliminary; reported in thousands of dollars.) | More
from
Market Guide: Significant
Developments |
| | | | FY2000 Pay | |
| Bruce Bendell, 46 Chairman,
CEO | $236K | James Wallick, 49 Pres,
COO, Director | 711K | Richard Feinstein, 57 CFO,
Sr. VP-Fin. | 172K | Dollar amounts are as of 31-Dec-2000 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|