“Auction II for Hecker: Tiger's autograph, a cop car - Minneapolis Star Tribune” plus 4 more

Auction II for Hecker: Tiger's autograph, a cop car - Minneapolis Star Tribune
XPRESS MOTORSPORTS-16-CWTS - Rotoworld.com
Monro Muffler raises 2Q outlook on higher sales - CNBC
Tenant Fights Gate Card Fee - KPHO
Monro Muffler Brake Buys Two Tire Stores; Revises Q2 EPS Outlook ... - RTT News

Auction II for Hecker: Tiger's autograph, a cop car - Minneapolis Star Tribune

Posted: 24 Sep 2009 02:00 PM PDT

The gavel will echo anew in the mission to pay off Denny Hecker's many creditors, with the autographs from golf and hockey legends among the offerings as well as a police cruiser.

A second auction of items owned by the financially and legally unfortunate Hecker, whose auto dealership empire once boasted $6.8 billion in annual revenue, will be up for bid Oct. 19 in New Germany.

Among the items:

• Photos and artwork signed by golf legends Arnold Palmer, Tiger Woods, Jack Nicklaus and other notable golfers.

• A "Miracle" poster signed by 1980 hockey gold-medal Olympian Neal Broten and a 1980 Team USA hockey photo signed by coach Herb Brooks.

• Dozens of watches (Versace, Rolex, Tommy Hilfiger, etc.) and a men's 18-karat diamond ring.

• Various scooters, motor bikes and a child's snowmobile.

• A 2004 Ford Crown Victoria "Police Interceptor."

At the initial auction last month, more than 1,100 golf and recreation buffs who showed up at the at the FWR Auction Center in New Germany, 40 miles west of Minneapolis, to scrutinize hundreds of Hecker's former toys.

The auctions are being ordered by a U.S. Bankruptcy Court trustee to generate cash to pay off hundreds of Hecker's creditors, who collectively are owed $767 million. Hecker filed for bankruptcy protection June 4, claiming $18.5 million in assets.

For auction details, including an item-by-item breakdown, visit www.maxanet.com/cgi-bin/mndetails.cgi?radde.

Paul Walsh • 612-673-4482

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XPRESS MOTORSPORTS-16-CWTS - Rotoworld.com

Posted: 24 Sep 2009 02:14 PM PDT

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Monro Muffler raises 2Q outlook on higher sales - CNBC

Posted: 24 Sep 2009 12:41 PM PDT

ROCHESTER, N.Y. - Auto repair chain Monro Muffler Brake Inc. raised its second-quarter earnings guidance on Thursday, citing better-than-expected sales.

The company said it now expects to earn between 47 cents and 48 cents per share. Previously, it expected earnings of between 43 cents and 48 cents.

Analysts surveyed by Thomson Reuters expect 47 cents per share, on average.

The company said it expects same-store sales to climb 7 percent. The figure represents sales at existing, rather than newly opened stores. The company is scheduled to report second-quarter results on Oct. 26.

The company also announced the acquisition of two regional tire chains Thursday for a total of $36 million.

Shares of Monro Muffler rose 2 cents to $30.70 in afternoon trading.

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Tenant Fights Gate Card Fee - KPHO

Posted: 24 Sep 2009 01:45 PM PDT

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Monro Muffler Brake Buys Two Tire Stores; Revises Q2 EPS Outlook ... - RTT News

Posted: 24 Sep 2009 12:05 PM PDT

(RTTNews) - Monro Muffler Brake, Inc. (MNRO: News ) announced Thursday that it has acquired Tire Warehouse and Midwest Tire business. In addition, the company revised its second quarter financial guidance and now sees comparable store sales at the high end of its previous outlook.

As per the agreement, the Rochester, New York-based company would acquire the assets of Tire Warehouse Central, a privately-owned tire store chain serving five New England states for $34 million. The total consideration, includes real estate assets for 12 store locations and a distribution center located in Swanzy, New Hampshire.

Tire Warehouse, which focuses solely on tires and related services, generated annual net sales of approximately $53 million in 2008. Monro Muffler Management expects the Tire Warehouse acquisition to be slightly accretive for the first twelve months following the acquisition and $0.06 to $0.08 accretive in the second twelve months of Monro ownership.

In addition, Monro said it has also completed the acquisition of the assets of Midwest Tire & Auto Repair, a small independent tire chain in northwest Indiana, for $2 million. Midwest Tire consists of four tire locations in northwest Indiana that generated annual net sales of about $6 million in 2008.The business will be converted to the Mr. Tire brand name and will be operated in a breakeven level for the first 12 months.

The company said that both the acquisitions will be funded through existing line of credit. The company plans to retain the store employees of the acquired businesses. The impact of the acquisitions is not included in the company's previously provided guidance for fiscal 2010.

Following the acquisition and initial integration of the business, the company plans to further leverage the Tire Warehouse store presence and distribution facilities by converting 50 of its existing Monro service stores in these markets to its Black Gold format. Black Gold is a program designed to increase sales in Monro's service stores, particularly of tires and related services.

The transaction is expected to close in early October.

Commenting on the acquisitions, the company's President, John Van Heel said,"We are delighted to add Midwest Tire and Tire Warehouse to the Monro family and look forward to capitalizing on the significant opportunities presented by the addition of 50 stores, nearly $60 million in sales, and an additional 500,000 tire units. Coupled with our acquisition of Autotire earlier this year, we have added 76 stores and $90 million of annual sales or approximately 18% top line growth through acquisitions so far this year."

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