Top RV News: JULY 2, 2024

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Fed: Inflation is Slowing Again; But Not Time to Cut Rates

WASHINGTON — Inflation in the United States is slowing again after higher readings earlier this year, Federal Reserve Chair Jerome Powell said Tuesday, while adding that more such evidence would be needed before the Fed would cut interest rates, according to an Associated Press report.

After some persistently high inflation reports at the start of 2024, Powell said, the data for April and May “do suggest we are getting back on a disinflationary path.”

Speaking in a panel discussion at a monetary policy conference in Sintra, Portugal, Powell said Fed officials still want to see annual price growth slow further toward their 2% target before they would feel confident of having fully defeated high inflation.

“We just want to understand that the levels that we’re seeing are a true reading of underlying inflation,” he added.

Crane Composites Supports 56 Local Non-Profit Charities

CHANNAHON, IL, June 25th, 2024 – Crane Composites, a subsidiary of Crane Company, recently presented 56 local non-profit charitable organizations with donations from the Crane Fund for Widows and Children.

Philanthropy is part of the company’s legacy and culture of giving back to the communities where our associates live and work. Each year, Crane Composites sponsors donation requests from associates at our sites in Channahon IL, Bolingbrook IL, Goshen IN, Florence KY, and Jonesboro AR. Our associates are also provided paid time off to volunteer during their normal workday to serve in their local communities.

“We are proud to be part of Crane and being able to give back to our communities with funds to support local charitable organizations and also through our volunteer efforts,” said John O’Sullivan, President. “We are following the lead of our founder RT Crane and focusing on improving the communities in which we live and work and making a positive impact as well.”

Crane Company has been involved with charitable giving for many years through three company-administered charitable entities: The Crane Fund, The Crane Fund for Widows and Children, and the Crane Foundation. The Crane Funds makes contributions to charitable organizations that provide direct assistance to underserved populations in the communities where Crane Company operates. This fund touches the lives of many through its donations to local organizations, global relief agencies, and school and scholarship funds in the United States and Canada.

EasyCare Parent APCO Holdings Announces Acquisitions

NORCROSS, Ga. – APCO Holdings LLC (APCO), a leading provider and administrator of automotive Finance & Insurance (F&I) products and home to the EasyCare, National Auto Care (now EasyCare), GWC Warranty, and Crystal Fusion brands, announced two recent acquisitions: Capital Administrative Professionals LLC and Rider’s Advantage.

Both acquisitions closed on July 1 – the second and third acquisitions in 2024, following the acquisition of Crystal Fusion in May – and “demonstrate APCO’s commitment to protecting what moves dealers, agents, and lenders and further strengthens its position in the F&I industry,” accordng to a release.

Capital Administrative Professionals (CAP) is an F&I administrator providing innovative and flexible products to automotive, RV and powersports agents and dealers across the country. Started in 2021, CAP supports over 700 dealers with innovative products, training, wealth building, and best-in-class service.

“We’re thrilled to welcome CAP to the APCO family,” said Tony Wanderon, CEO of APCO Holdings, LLC. “This strategic move strengthens our market position and aligns with our vision of delivering innovative products and solutions for dealers. We look forward to working with the talented CAP team and leveraging their expertise to drive growth and value for our customers.”

“Acquiring CAP broadens our product portfolio and allows us to deliver what dealers and agents need from their F&I provider,” added Courtney Hoffman, APCO’s Chief Revenue Officer. “Michael and his team will fit seamlessly into our business, elevating how we support our growing channels.”

“We’re excited to join APCO as it allows us to better support our agents and dealers across channels.” said Capital Administrative Professionals President Michael Hunter. “The resources unlocked by this acquisition are unparalleled in the industry.”

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