First Acceptance shares get vote of confidence from chairman

Jeremy Ford, chairman of the board at local auto insurer First Acceptance, let his wallet do some talking late last week, spending almost $480,000 to add more than 250,000 shares to his holdings. The move boosted his direct stake in the Green Hills-based company by 12 percent to 2.3 million shares. Through his family's ownership of several other entities, Ford also is deemed to be the beneficial owner of about half of First Acceptance. The thinly traded shares of the company (Ticker: FAC) are up more than 40 percent this year but are still down 40 percent since late 2008.