Mo. Gov. Blunt joining auto salvage company board

JEFFERSON CITY, Mo. - Missouri Gov. Matt Blunt will help run an auto salvage company when he leaves office.

Copart Inc. announced Friday that Blunt will join its board of directors Jan. 13 — the day after Blunt's term as governor ends.

A Blunt spokesman confirmed the new job.

Copart, based in Fairfield, Calif., says it sells more than 1 million vehicles a year to dismantlers, rebuilders, exporters, used car dealers and — in some states — to consumers. Many of the cars have been damaged and deemed a total loss by insurance companies and are sold by Copart through Internet bidding.

The company's proxy statement filed last month with the U.S. Securities and Exchange Commission says its directors are paid $50,000 a year and are eligible to receive company stock. Two members who joined the board in September 2007, for example, each received 20,000 shares of stock valued at $88,849.

Copart President Jay Adair said in a written statement that "Governor Blunt will add tremendous value to Copart's board with his experience in public policy and fiscal management."

The company's news release also included a statement from Blunt, saying: "Copart has an impressive business model, very capable board members and energetic and innovative executive leadership."

Blunt spokesman Rich Chrismer said he did not know how Blunt's new job came about. But he said it probably will not be Blunt's only job after leaving the governor's office.

Chrismer said Blunt is "exploring a number of different options with different employers," although he declined to be more specific.

"It's common for a person with his diversity of skills — military experience, public policy and fiscal management — to be affiliated with a number of companies and organizations," Chrismer said.

Blunt graduated from the U.S. Naval Academy in 1993 and spent several years in the military before being elected to the Missouri House in 1998. He served two years in the House, then four as secretary of state before becoming governor in January 2005. Blunt chose not to seek re-election this year.

In 2007, Blunt signed into law a bill that loosened standards on the level of damage that must be noted on a vehicle's title. It required a vehicle to have a "salvaged" title if it was no more than six years old and the damage would cost 80 percent of its value to repair — instead of the previous 75 percent damage standard applying to vehicles as much as seven years old.

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