Researchers from iSEC Partners recently demonstrated an attack on a Subaru Outback equipped with a vulnerable alarm system by using a computer to send alarm commands to unlock the doors and start the engine. This was possible because car alarms, GPS systems and other devices are increasingly connected to cellular telephone networks and can receive commands through text messaging. Devices that receive texts generally cannot refuse them and the commands encoded in them. Users can't block texts; only operators of the phone networks can. If a secret phone number attached to a particular device is found, it can be thrown off by sending other commands through text messaging.
DealerTrack has announced it is selling ALG to TrueCar but will continue to have access to certain ALG intellectual property or data in its products and services, with a perpetual, royalty-free license. The sale is expected to close in the fourth quarter, subject to customary closing conditions and regulatory approval. ALG will be run independently of TrueCar's operations. DealerTrack's management expects to recognize a pre-tax gain for GAAP purposes of at least $40 million on the sale, but officials do not anticipate that this will have an impact on 2011 non-GAAP guidance.
PHH Arval has introduced its Equipment Rental Management Services for fleets that rent equipment for short-term projects. The service is designed for fleets needing assistance in securing and/or managing storage trailers, construction trailers, forklifts, lift trucks, aerial lifts or other material handling equipment for projects throughout the U.S. Clients may use their existing suppliers or PHH's extensive network of equipment rental suppliers. PHH rental specialists manage all aspects from equipment delivery to pick up at the end of the project. The Center for Transportation Safety, a PHH Arval company, provides operator training to ensure the safe and efficient use of the equipment.
KAR Auction Services' ADESA subsidiary has agreed to acquire OPENLANE's equity for $210 million in cash. OPENLANE CEO Peter Kelly will remain and will report to Jim Hallett, KAR's CEO. OPENLANE is expected to sell over 300,000 vehicles this year while bringing in revenue of approximately $100 million.
Car Talk's Paul Atchley calculated the cost of distracted driving to the state of Kansas. Using the National Safety Council's current estimates that 28% of fatalities are caused by distracted driving, that translates into 97 Kansas fatalities. Almost 5,000 people are injured and 12,000 incidents of property damage are caused by distracted driving in the state. Translating those deaths, injuries and property damage into a dollar amount, it cost the Kansas economy $500 million in 2009. It's impossible to tangibly express the emotional and physical toll an auto accident has on the victim, friends and family.