David Ruggles 63, Male Las Vegas United States: Like

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David Ruggles and Christina Haberstroh are now friends Nov 22, 2011

David Ruggles commented on Marcie Belles's video

EXCELLENT comments Frank! Some people believe it was regulations that caused the financial crisis and the recession we are all living. They are usually referring to the CRA as if lenders were forced to make risky loans. Then there…

CBA's Hunt: Banks Think Congress Went Too Far

Sep 17, 2011

David Ruggles commented on Marcie Belles's blog post 'What’s Your Take on the Economy?'

For the economists out there: Which produces more government debt? Cutting spending to keep up with the drop off of tax revenue in an effort to balance the budget in a down economy? OR trying to support the economy through…

Aug 8, 2011

David Ruggles commented on Mike Gibb's blog post 'The Internet: The Dealership of the Future?'

What the Internet has done is to give consumers additional information which further commoditizes new and pre-owned vehicles. The Dealer has less control and the potential for gross profit becomes minimized. In my humble…

Jul 10, 2011

David Ruggles commented on Mike Gibb's blog post 'Credit Score Conundrum'

If not for the Community Reinvestment Act of 1977, we might not have credit scoring today. Lenders needed an objective way to prove they weren't engaging in red lining. We've come a long way!

May 28, 2011

David Ruggles commented on Mike Gibb's blog post 'The Incentive Dis-Incentive'

@ @ David - Strangely, I've been looking at some subvented deals these days and seeing residuals 2K LOWER than ALG. They are reducing payments through cheap interest money and other lease cash. My guess is they know they will be…

May 9, 2011

David Ruggles commented on Marcie Belles's blog post 'Residual Values: A Collaborative Approach'

Brad - You give me a headache when you talk about that stuff. But I'm glad someone understands it, even if i don't! My roommate in college was a math major and he gav me headaches too. He taught me there is a difference…

Apr 22, 2011

David Ruggles left a comment for Mike

Welcome Bro!

Mar 17, 2011

Profile Information

First & Last Name: David Ruggles

Corporate Title: Partner

Company: CyberCalc Arbitrage

Company Description: http://www.cybercalc.com/

City, ST: Las Vegas NV

David Ruggles's Blog

Used Vehicle Leasing? Alive and Well through Select Credit Unions.

Posted on February 25, 2010 at 12:08am 0 Comments 0 Likes

For the last few years I have been engaged in pre-owned vehicle leasing, at least until there were no independent POL lenders left. When U.S. Bank pulled out of the pre-owned leasing space in 2008 my initiatives were shut down. The only lenders left were the high line captives primarily supporting their CPO initiatives. At least that is what I thought. Imagine my surprise when I found out about the credit unions engaged in pre-owned leasing through an organization called CULA, for Credit Union… Continue

Triple Whammy

Posted on July 15, 2009 at 1:14pm 4 Comments 0 Likes

Vehicle sales in the U.S. are suffering from a “Triple Whammy!

First, the economy has tanked and the unemployment statistics are brutal. Everyone is aware of this. Unemployed folks and folks worried about becoming so are not eager consumers.

Second, the credit system has collapsed along with many folk’s credit score. Before the meltdown over 30% of Americans possessed a credit score in excess of 720. These days, it is anyone’s guess, but with recent events it is unlikely… Continue

July Ruggles Report

Posted on July 8, 2009 at 7:46pm 0 Comments 0 Likes

I Was Wrong! But Don't Tell My Wife I Admitted It!

I predicted that Chapter 11 bankruptcy for Chrysler and GM would cause chaos and linger for years. Well, I was right about the chaos part. Little did I know what can happen when the government is the driving force behind a Section 363 sale in a Chapter 11, and how much influence the provider of Debtor in Possession financing has - especially when they also happen to be the government.

I do, however,… Continue

Lies, Damn Lies, and Statistics!

Posted on June 4, 2009 at 1:15pm 16 Comments 0 Likes

As I watched the Senate hearings today on CSPAN my blood boiled. When asked about the money they would save by cutting their dealer count these guys, Henderson and Press, engaged in some serious obfuscation. They asserted that by swapping an "under performing" dealer for a "performing dealer" they would pick up the gross profit of the additional sales of the new "performing" dealer. These calculations of the difference between what they got and what they felt they were entitled to makes up the… Continue

Important Senate Hearing at 2:30PM EDT

Posted on June 3, 2009 at 1:18pm 0 Comments 0 Likes

Check it out on CSPAN! John McEleney, NADA President, Fritz Henderson, Jim Press will testify. Many congressmen will grill Press and Henderson about the purging of their dealer body. McEleney will speak for dealers. This is a last ditch effort to short stop the draconian dealer cuts!

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At 12:22pm on October 5, 2010, Glenn S. Gottfried said…: David,

It is my hope that 2010 ends well for you, your organization and our industry. I would like to introduce you to my company, GripFin, Inc., which provides advisory and investment services to auto portfolio buyers and sellers of all sizes and credit spectrums. I would appreciate your visiting my profile and inviting me to become your friend. Thanks, Glenn Gottfried, CEO, GripFin, Inc.

At 5:36pm on August 11, 2009, David Pilcher said…: Hi Dave. Actually I was interested in the Auto finance conference in October. The registration fee is a bit stiff, but I requested that look at a lower threshold for dealers. We will see how they respond. I will be attending the NRC Nov 2 in red rock for sure.

At 6:45pm on March 19, 2009, JJ Hornblass said…: Dave, glad you liked the piece Boaz and I wrote on systemic risk. We worked hard on it.

At 12:34pm on December 16, 2008, Adam M. Berger said…: They sure are...thankfully. We hold quite a bit of our fleet business in-house, but the broker business has been dicey and North Shore has been a steady ship.

At 11:56am on December 16, 2008, Adam M. Berger said…: David -- good to run into you here. Please let me know how we can help you.
Adam Berger , Doering Leasing Co.

At 5:09pm on September 12, 2008, JJ Hornblass said…: I agree. It is just that every time it seems as though the residual risks are under control, or purported to be under control, they go haywire. That is why the passion for the product has dissipated. After the great residual-value debacle of the late 1990s -- remember all those writedowns? -- the guidebooks stocked their rolls with quants and PhDs, and banks said that they would stick more closely to the residual values set by the guidebooks and avoid custom valuations. But even the banks that have operated "prudently" have gotten stung this time around. The miss on SUVs and trucks has hurt mightily. One bitten, twice shy, right?

At 4:36pm on September 12, 2008, JJ Hornblass said…: David, thanks so much for posting a comment to my page!

Today leasing is viewed as a broken business. Banks have never been enamored with the product, which invariably forces them into the remarketing business. They are bankers, after all, not movers of inventory. And now that the captives are souring on leasing, the overall perception of leasing as a bad business has amplified.

I don't see a resolution to this situation until 1) the lease supply declines, which would allow for more liberal pricing; and 2) vehicle prices stabilize, because the current fluctuations in valuation, particularly for SUVs, have spooked lessors -- insurance or not.

What do you think?