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AMI Accepting Applications for Six Scholarships

The Automotive Management Institute (AMI) is accepting applications for the following six scholarships to be awarded this year: the Emil Stanley Merit Award, the BodyShop Business Magazine Scholarship, the Gale Westerlund/Richard Cossette Memorial Scholarship, the Tom B. Babcox Memorial Scholarship, the Automotive Video Inc. (AVI) Educational Scholarship and the Zurich "High Octane" Scholarship.
By Shop Owner Staff
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The Automotive Management Institute (AMI) is accepting applications for the following six scholarships to be awarded this year: the Emil Stanley Merit Award, the BodyShop Business Magazine Scholarship, the Gale Westerlund/Richard Cossette Memorial Scholarship, the Tom B. BabcoxMemorial Scholarship, the Automotive Video Inc. (AVI) Educational Scholarship and the Zurich “High Octane” Scholarship.

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Three scholarships help pay expenses for recipients to attend the 2010 International Autobody Congress & Exposition (NACE) in Las Vegas, Oct. 10-13. These scholarships are the Emil Stanley Merit Award, the BodyShop Business Magazine Scholarship and the Gale Westerlund/RichardCossette Memorial Scholarship.

The $1,000 Emil Stanley Merit Award is awarded annually to an individual whoworks in an Automotive Service Association (ASA) Collision Division member-business in good standing and who displays a desire to improve their business skills through management education. The 2010 award marks the 20thyear in which AMI and ASA have honored Emil Stanley with this commemorative management-oriented scholarship.

The $1,000 BodyShop Business Magazine Scholarship is also presented annually. AMI’s resource development effort, EXCEL, in conjunction with Babcox Publications, established the scholarship that is awarded to an ASA Collision Division member-business in good standing and who displays a desire to improve their business skills through management education.

The Gale Westerlund/Richard Cossette Memorial Scholarship is offered in conjunction with ASA to honor the contributions these individuals made to AMI, ASA and the collision repair industry.

NACE, the world’s largest collision repair event, is sponsored by ASA and offers a comprehensive lineup of AMI, industry and technical seminars, a trade show with 350-plus exhibiting companies and the opportunity to network with other collision industry professionals.

The remaining three annual scholarships help cover expenses for recipients to attend the Congress of Automotive Repairand Service (CARS) in Las Vegas, Oct. 10-13. These scholarships are the Tom B. Babcox Memorial Scholarship, the Automotive Video Inc. (AVI) Educational Scholarship and the Zurich “High Octane” Scholarship.

The $1,000 Tom B. Babcox MemorialScholarship was established by EXCEL, in conjunction with Babcox Publications. It is awarded toan ASA Mechanical Division member-business in good standing and who displays a desire to improve their business skills through management education.

The Automotive Video Inc. (AVI)Educational Scholarship was established by EXCEL, in conjunction with AVI, a leader in automotivediagnostic and repair training programs for automotive repair professionals.The scholarship is based on proceeds from “Casino Night,” a fundraising effort held during AVI’s Annual Training Conference.

The $1,000 Zurich “High Octane”Scholarship was established by EXCEL, in conjunction with Zurich, formerly Universal Underwriters Group. It is awarded to an ASA Mechanical Division member-business in good standing and who displays a desire to improve their business skills through management education.

CARS, also sponsored by ASA, offers an educational lineup of AMI seminars, technical courses and industry sessions, a trade show with 40-plus exhibiting companies and the opportunity to network with other automotive service professionals.

Additional details and requirements areavailable on the AMI website at www.amionline.org.

To request a scholarship application, call AMI at (800) 272-7467, ext. 241, or fill out a scholarship application online at www.amionline.org. Applications must be received by AMI on or before Aug. 13, 2010. The scholarship recipient will be notified by AMI on or before Sept. 13, 2010.

AMI was established in 1989 to answer the demand for continuing education tailored specifically for the business needs of the automotive service industry. The Institute offers the Accredited Automotive Manager (AAM) designation, the first business management accreditation exclusively for the automotive service professional. To date, AMI programs have attracted more than 192,000 enrollments throughout North America. AMI is a not-for-profit educational foundation to which tax-deductible contributions can be made. For more information about the Institute, its curriculum, or EXCEL, contact AMI at (800) 272-7467 ext. 241, or visit the AMI website at www.amionline.org. 

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I sometimes share case studies of the clients I have been able to assist in my role as an aftermarket business broker and provider of intermediary and advisory services. I do that when I think the story will provide a reader in similar circumstances with new insights or helpful information.
In the case of Cowden Automotive, Inc., I acted in a consulting capacity assisting the owner and his broker in valuing the business, creating a marketing plan, finding a qualified buyer, and arranging financing for the sale.
Although every sale of a shop in which I am involved has its own unique set of circumstances, which makes my job both very interesting and very challenging, Cowden Automotive stands out as particularly memorable because I was able to demonstrate to the long-time owner, Paul Cowden, that his business was worth about three times what he had initially thought.
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