Automotive and Insurance Industry News

U-Save Auto Rental Continues Expansion With More Airport Locations 

JACKSON, Miss., Feb. 18/ -- U-Save Auto Rental is continuing its expansion into airport locations with the recent award of two new franchises that will expand service into Jacksonville and Daytona Beach Florida airports.   Current locations include Tampa, Orlando, Miami, Ft. Lauderdale and Myrtle Beach.

The strategy to expand their presence in the airport market comes in response to requests from U-Save franchisees and customers to extend the reach of the U-Save trade name.  U-Save has plans to open 30 airport locations by the end of 2005.

Massive Oversale Of Variable Life Insurance from Metlife Sparks Lawsuit 

LAKE WORTH, Fla., Feb. 19/ -- 30-year-old Christos Loukas just wanted to save for retirement.  He ended up with a huge insurance policy premium that would have forced him to live below the federal poverty guideline.

Christos Loukas and his father, Antonios, filed suit in Palm Beach County against Metropolitan Life Insurance Company, the Gaines & Smith Financial Group and insurance agent Patrick Gaines.  The suit alleges violations of the Florida Securities and Investor Protection Act, fraud, breach of fiduciary duty, unjust enrichment and negligent supervision.

According to the lawsuit, Christos and Antonios had been sold $4 million in MetLife Variable life insurance policies, with an annual premium of $50,000. 

AutoNation To Open Houston Nissan Dealership

FORT LAUDERDALE, Fla., Feb. 19/ -- AutoNation, America's largest automotive retailer, today announced that it will be opening a new Nissan dealership in the Houston, Texas area. Construction on the new facility at 25550 Kingsland Boulevard in

Katy, Texas has begun with an anticipated opening in April 2004.  The dealership will operate as Champion Nissan and will become the 13th member of AutoNation's Champion brand in the Houston area.

The new location showroom will be approximately 12,300-square-feet with a 14,600-square-foot service facility and a 4,800-square-foot parts department on an eight-acre parcel.  It will accommodate 665 new and used vehicles and offer repairs and maintenance from 26 service bays. 

New York International Show Kicks Off At the Javits Center April 9th - 18th

NEW YORK, Feb. 20/ -- Bigger and bolder, the 2004 New York International Automobile Show's "Urban Tuner and Specialty Vehicle Salon" will feature specially tricked-out cars and trucks outside the Javits Center on the Inner Roadway.  The outdoor event, which embraces the "Fast and the Furious" vehicle customization trend, will run from April 9-18.

The exhibits will feature a number of vehicle manufacturers and major aftermarket equipment suppliers including specialty cars from Acura, Honda, Scion, Mercedes-Benz, Subaru plus aftermarket suppliers. The 2004 New York International Auto Show will feature an impressive collection of cutting-edge design and remarkable innovation.

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