Goshen, N.Y. – VAC
Service Corp. founder Jim Tucker is planning a return to the extended service plan
and warranty industry he helped shape in the 1980s.
“I’ve followed the
service industry closely for the past five years, and there is still
significant opportunity for the right company with the right philosophy,” he
said.
Tucker said his new
venture is in the early stages of launching, and that more details about the
business would be forthcoming in the near future.
He began his warranty
career in the automotive industry, where he helped develop Ford Motor Company’s
12-12 power train warranty, and founded VAC, or Video Aid Corp., in 1980 after learning
that service plans were unavailable for VCRs, which retailed for over $1,000 at
the time.
Tucker sold VAC to
Bankers Warranty Group in 2005 and timed his return to the industry to the
expiration of a non-compete clause.
