JANUARY 2008


 

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WHO WILL BE HAMILTON'S CITIZEN OF THE YEAR
ONTARIO "REPAIRED" CARS BRING ALBERTA FRAUD CHARGES
INJURED WORKER BENEFITS INCREASING ON JANUARY 1
RIFCO HITS ALBERTA VENTURE 2008 FAST 50 RANKING OF ALBERTA'S...
CAR AND DEER COLLISIONS INCREASING
ALLSTATE INSURANCE DROPS PARTS DISCOUNT DEMAND




Who Will Be Hamilton's Citizen Of The Year

The Hamilton Chamber of Commerce has announced the finalists for the 2007 Hamilton Citizen of the Year Award, presented by the RBC Royal Bank.  Winners will be announced at a gala dinner on Monday, January 28, 2008.

Nominated this year is Sam Mercanti, president and CEO, CARSTAR Automotive Canada.  The company supports the community in countless capacitates such as chairman of St. Joseph's Healthcare, founder of the Charity  of Hope and with their franchisees, has donated more than $1.5 million to Cystic Fibrosis research.

  (SEE HEADLINES)



RIFCO Hits Alberta Venture 2008 Fast 50 Ranking
Of Alberta's Fastest Growing Companies  

Red Deer , Alberta , January 2, 2008 : RIFCO INC. (TSX.V: RFC) is pleased to announce that for 2008, the Company has been ranked 21 st on Alberta Venture Magazines annual Fast 50 ranking for Companies with revenue under $20 million. RIFCO was also included on the 2006 ranking.

The FAST 50 list is the definitive ranking of Alberta 's emerging growth companies. Published in the January issue of Alberta Venture and online at www.AlbertaVenture.com , the FAST 50 ranks young firms on three-year revenue growth among other factors.  RIFCO has achieved a three-year revenue growth rate of 71% to $6.5 million with a reported pretax profit of $1,150,000. 

RIFCO is honored to be included among this prestigious group of Alberta 's fastest growing companies a second time. RIFCO continues to strive to become a national player in the area of specialty consumer auto finance. We congratulate every RIFCO team member for their hard work and dedication to RIFCO's continuing success.  

About Alberta Venture Magazine

Alberta Venture is Alberta 's best-read business magazine and is committed to influential reporting, timely editorial coverage and superior design. Alberta Venture publishes a must-read magazine filled with exceptional business stories and profiles, detailed industry reports, award-winning photography and helpful information on current business trends.

About RIFCO Inc

RIFCO is a specialty consumer finance corporation currently providing motorists with non-prime Auto Purchase Financing and mid-market Automotive & Commercial Repair Financing. RIFCO has a growing network of new & used vehicle dealers and licensed repair facilities operating in all provinces except Saskatchewan and Quebec . RIFCO Inc. operates through its wholly owned subsidiary Repair Industry Finance Corporation.   

The common shares of RIFCO INC. are traded on the TSX Venture Exchange under the symbol "RFC". RIFCO Inc. has 19.23 million shares outstanding.

The TSX Venture Exchange does not accept responsibility for
the adequacy or accuracy of this release

(SEE HEADLINES)



CAR AND DEER COLLISION INCREASING

On December 21, 2007, Virginia White, 23, was killed when the van she was riding in with fiancé Jason Horvath, struck a deer on Watson Road South, north of Wellington Road North in Puslinch, Ontario.

White was six and half months pregnant.  Her fiancé was taken to hospital in stable condition. 

Many rural counties in southern Ontario are reporting an increase in deer-car collisions this year.

In Ontario, a wildlife-car crash occurs every 39 minutes. One in every 17 motor vehicle collision involves a wild animal with almost 90% occurring on two-lane roads outside or urban centres.

Tips To Avoid Deer

- Look well ahead. 
- Use high beams on side roads at night. 
- Watch for their glowing eyes. 
- Watch your speed limit. 
- Buy a deer whistle for your vehicle. 
- Cover the brake ( hover foot over top).  
- Be aware while driving next to fields and wooded areas. 
- If you see one animal, remember others are likely nearby.

OPP Reports In Ontario, in 2004, 13,502 wildlife collisions were reported.  13, 043 were collision damage while 542 injuries were reported.  Seven people died in wildlife collisions.
 
For more information please see:  http://www.ciia.com/provinces/ontario/features.html and  " Reduce your Collision Risk - Watch out for Animals

(SEE HEADLINES)



ALLSTATE INSURANCE DROPS PARTS DISCOUNT DEMAND
Paint Re-Imbursement Up

January 2, 2008

The year 2008, has just barely started when Allstate Insurance forwarded a note to their PRO preferred shops in southern Ontario that effective New Year's day, Allstate Insurance would be changing re-imbursed pricing levels.

Announced by Victor Pasnyk at Allstate were:

Body labour rate: $50 per hour (same)

Paint re-imbursement rate: $27 per hour (up $2)

Paint material cap: DROPPED (new)

Appearance allowance: 20% can be charged by shop (new)

Mechanical labour rate: $72 per hour (up $2)

The biggest news was the announcement that Allstate would no longer demand, from their PRO shops, a 5-10 per cent discount allowance on parts used in the vehicle repair. A number of industry associations complained loudly in June of 2001, when Allstate first announced the parts discount demand.

"The dropping of the parts discounting demand is a positive step for shop profitability and has removed a possible sore spot in Allstate, Pembridge and Pafco Insurance companies and their relationships with their preferred vendors" says John Norris of the collision repair industry trade association. "Other vehicle insurers in the province are demanding parts discounting or looking at ways to lower their costs by removing parts profitability from shops, and we hope this positive step by Allstate sends a message that parts discounting is not to be part of the future for our industry."

For more information on the collision repair industry including the latest paint re-imbursement rates reported by shops in Ontario, please see: www.ciia.com

(SEE HEADLINES)

















































Top Ten Steps To A Safer And More Profitable Shop (20 pages)

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Autobody Profitability Workbook (82 pages)

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Issues Facing The Canadian Collision Repair Industry (39 pages)

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