Thorpe moves to scuttle doping claims Aug 11, 2008
August 04, 2008 11:15pm AEST. IAN Thorpe has provided the country's drug testing agency with medical evidence in an attempt to clear his name of doping. (Yahoo News -- Swimming)
9/11 rebuild goes on, despite grisly finds Aug 11, 2008
Software solutions for Automotive Finance, Leasing Management. Join Coral Princess Cruises on the ultimate 5-night cruise discovering Vanuatu. (Yahoo News -- World Trade Center)
Commander Communications surrenders to receivers Aug 9, 2008
August 09, 2008 12:54am AEST. ONLY eight months after a management overhaul, junior telecoms group Commander Communications has been placed in receivership as its bankers race to recoup more than $300 million that was poured into the group. (The Australian)
GPs might take flight in bird flu crisis Aug 9, 2008
August 09, 2008 01:31am AEST. A SIGNIFICANT minority of GPs might stay at home and decline to treat patients in the event of a bird flu pandemic, for fear that they or their families might become infected. (The Australian)
Tiger leaps into the black Aug 8, 2008
August 08, 2008 01:52am AEST. TIGER Aviation's Singapore operations have defied the nay-sayers and moved into the black after reporting a net profit of $S37. (The Australian)
Former Tyco chiefs jailed for $150m corporate theft Aug 7, 2008
applicants must have a minimum of three years of automotive finance. dc. (Yahoo News -- Tyco)
GMAC Posts $2.5 Billion Loss in 2nd Quarter Aug 1, 2008
Meanwhile, GMAC's automotive finance division swung to a loss of $717 million. The loss included a $716 million impairment charge resulting from lower used vehicle residual values, especially related to SUVs, GMAC said. (ABC News -- Wire)
GM dangles cash to curb leasing Aug 1, 2008
More evidence emerged yesterday of the beating automotive finance companies are taking from a plunge in the values of trucks and SUVs and the difficulties they're having securitizing loans attached to those vehicles. GMAC LLC, which is the lead financing entity for GM vehicles but now is controlled by hedge fund Cerberus Capital Management LLP, took a $716-million (U.S.) impairment charge on its vehicle portfolio. (Globe and Mail -- Business)
This job is not for the faint of heart Jun 12, 2008
That honour goes to automotive finance at $57. 8-billion. (Globe and Mail)
Fort Knox National to close division, lay off 79 in Elizabethtown Jun 5, 2008
a Louisville-based technology company that provides electronic bill-pay systems for customers such as utilities, automotive finance and mortgage companies, will close operations in Elizabethtown. The closure will eliminate 79 jobs by mid-August, said Paul Flanigan, chief marketing officer for the company, which has its headquarters in the Heyburn Building at 332 W. Broadway. (Louisville Business First, KY)
Ford completes Jaguar, Land Rover sale to India's Tata Jun 3, 2008
Tata said in Monday's release that it is in the advance stages of negotiating with automotive finance providers to support the Jaguar-Land Rover business in the U.S., U.K. and Europe. Tata Motors is part of Tata Group, India's oldest and largest conglomerate. (MSNBC -- Business)
Ford Motor Credit Offers Financial Relief to Tornado Victims May 31, 2008
"We understand that. We hope our Disaster Relief Program will ease our customers' financial concerns as they focus on rebuilding and healing." Ford Motor Credit Company LLC is one of the world's largest automotive finance companies and has supported the sale of Ford products since 1959. Ford Motor Credit is an indirect, wholly owned subsidiary of Ford Motor Company. (PR Newswire)
Auto Woes Lead to Magazine Ad Rev Sag in Q1 Apr 15, 2008
magazines/newspapers. magazines/newspapers. (MediaWeek.com)
U.S. auto industry facing a grim year Mar 20, 2008
Automotive finance companies are fearful of repeating the mistakes of subprime lenders in the housing industry and are generally declining to make risky vehicle loans. "We are faced with the dilemma of lowering our credit standards to put them in a car, or saying no," said Michael Jackson, chairman of AutoNation, the largest auto retailer in the United States. (International Herald Tribune -- Business)
27 auto thefts reported at Adesa Feb 28, 2008
Their parent company KAR Holdings Incorporated includes, Insurance Auto Auctions, Automotive Finance Corporation, PAR North America AutoVIN and Dent Demon. ADESA employs nearly 11,000 people. (McKinney Courier-Gazette, TX)
GMAC to cut 930 auto finance jobs, close offices Feb 21, 2008
"We are committed to continuing to offer a full range of leading automotive finance products as we transform the organization.". GMAC to cut 930 auto finance jobs, close offices 1. (ABC News -- Wire)
Scotiabank Renames Subsidiary of Automotive Financing Division Feb 20, 2008
The wholly-owned subsidiary has been renamed Scotia Dealer Advantage Inc. "The renaming and rebranding of TLC to Scotia Dealer Advantage brings the subsidiary into the Scotiabank family of brands and provides the industry's best range of dealer financing products and high quality service for our dealership customers," said Ron Porter, Senior Vice-President, Automotive Finance and Indirect Lending. "Scotia Dealer Advantage demonstrates our strong commitment to finding opportunities to provide a... (Canada Newswire)
Universal Warranty Unveils 'Paperless' F&I Sales Solutions Feb 10, 2008
" About GMAC Insurance The GMAC Insurance Group is part of GMAC Financial Services, a global, diversified financial services company that operates in approximately 40 countries in automotive finance, real estate finance, insurance and other commercial businesses. GMAC's insurance operations were first established in 1925, and now offer a wide range of products to meet the needs of retail consumers, dealers and business partners. For more information on GMAC Financial Services, visit . For... (PR Newswire)
Ford Motor China Sales Rise 30 Percent in 2007, Outpacing Industry in Growing Market Jan 9, 2008
Ford's wholly owned subsidiaries, joint ventures and investment in China include Ford Motor (China) Limited, Ford Motor Research eering (Nanjing) Co., Ltd., Ford Automotive Finance (China) Ltd., Changan Ford Mazda Automotive Co., Ltd., Changan Ford Mazda Automotive Co., Ltd., Nanjing Company, Changan Ford Mazda Engine Co., Ltd., and Jiangling Motors Co., Ltd. For more information, please visit. SOURCE Ford Motor Company. (PR Newswire)
Mitsubishi Motors Malaysia has new CEO Dec 21, 2007
He has vast experience in the automotive finance, having held the position as President for PT Dipo Star Finance in Jakarta, Indonesia from 1999 to 2007. Prior to that, he was attached to the Motor Vehicle Department of Mitsubishi Corporation in Japan, responsible for domestic and overseas markets. (The Star Online, Malaysia)
Bajaj Auto's reserves to fund acquisitions Dec 4, 2007
Bajaj Auto's reserves to fund acquisitions - International Herald Tribune. Bajaj Auto's reserves to fund acquisitions. (International Herald Tribune -- Business Asia)
Car loan delinquencies seen as result of mortgage woes Nov 20, 2007
DETROIT - Rising delinquency rates on car and truck loans have some industry analysts concerned that subprime mortgage troubles could spill into the automotive finance business. In a note to investors yesterday, analyst Brian Johnson said his analysis of auto loan-backed securities sold by and GMAC Financial Services showed some higher delinquency rates for October and September compared with recent years. (Boston Globe)
GMAC Financial Services Announces Key Executive Appointments Nov 14, 2007
"Additionally, I am pleased to have Sanjiv lead major GMAC strategic initiatives and business development opportunities as well as the ResCap finance organization." About GMAC Financial Services GMAC Financial Services is a global, diversified financial services company that operates in approximately 40 countries in automotive finance, real estate finance, insurance and commercial finance businesses. GMAC was established in 1919 and employs about 31,000 people worldwide. (PR Newswire)
Mining to motor finance: sure-fire no-brainer Nov 6, 2007
LESS than six months after listing as a platinum explorer at the height of the mining boom, Bushveld Platinum has abandoned its mining ambitions in South Africa in favour of automotive finance in Australia. "We're getting into a less risky venture," Bushveld's managing director, Mike Pavone, said. (Sydney Morning Herald -- Business)
NetDimensions and Atlantic Link Limited Establish Affiliate Partnership Oct 18, 2007
HONG KONG, Oct. 18 /Xinhua-PRNewswire-FirstCall/ -- NetDimensions (LSE: NETD), a global provider of learning, knowledge and performance management systems, today announces the establishment of an Affiliate Agreement with Atlantic Link Limited, a provider of advanced rapid e-learning tools. These tools allow subject matter experts who are not IT experts or programmers to produce highly sophisticated e-learning courses. (PR Newswire)
Bank mergers help Brenham business find ‘niche’ Oct 7, 2007
For instance, Capital One Bank s buy out of Hibernia s banking interests involved scanning and organizing a backup set of the previous owning bank s automotive finance paperwork. After completing this back up work, all the original documents in behalf of new owner, Capital One Auto Finance were moved from Shreveport to Sacramento, Calif. (Brenham Banner, TX)
Govt clears 13 FDI proposals Oct 5, 2007
The board rejected a proposal of Ford Automotive Finance Company India. US-based financial services firm Bear Stearns had proposed for extension of timelines. (India Times)
FIPB turns down Bear Stearns proposal Sep 24, 2007
NEW DELHI: Foreign Investment Promotion Board (FIPB) has turned down a proposal that a subsidiary of US-based financial services firm Bear Stearns Companies Inc be given two more years to increase the paid up capital of Ford Automotive Finance Co India, which it wants to acquire. The subsidiary, Bear Strategic Investment Corp, plans to buy 100% stake in Ford Automotive Finance. (India Times, India -- Intl Business)
Memphis Students Have the Right Stuff Sep 21, 2007
GMAC Financial Services is a global, diversified financial services company that operates in approximately 40 countries in automotive finance, real estate finance, insurance and other commercial businesses. GMAC was established in 1919 and currently employs about 31,000 people worldwide. (Gotigersgo.com)
GMAC-SAIC Celebrates Third Anniversary Sep 13, 2007
Announces Growth in Retail Credit Business of 125 percent SHANGHAI, China, Sept. 13 /PRNewswire/ -- GMAC-SAIC Automotive Finance Co., Ltd. (GMAC-SAIC), which is celebrating the third anniversary of its founding, announced today that its retail credit business grew 125 percent on an annual basis through August 2007, and the operation has surpassed US $1 ... Zhang Xiaojun, deputy general manager of GMAC-SAIC, also adds, "GMAC-SAIC is by far the number one automotive finance institution in China."... (PR Newswire)
Encouraging signs in a credit crunch Aug 27, 2007
Automotive finance corporations issue commercial paper so that they can make car loans to consumers. The biggest risk, Mr. Werling says: If the current problems with credit availability persist so long, they could deepen the current housing slump, adding to downward pressure on home prices and stock values. (Christian Science Monitor)
GMAC Helps Students Offset the Costs of Textbooks Aug 17, 2007
About GMAC GMAC Financial Services is a global, diversified financial services company that operates in approximately 40 countries in automotive finance, real estate finance, insurance and other commercial businesses. GMAC is passionate in its support of efforts that strengthen communities, focusing on housing and human services, financial literacy, education, youth development and the arts. (PR Newswire)
Ford Motor Credit Company and DST Output to Discuss Statement-Based Marketing Initiative at TransPromo Summit Aug 3, 2007
About Ford Motor Credit Company Ford Motor Credit Company LLC is one of the world's largest automotive finance companies and has supported the sale of Ford products since 1959. Ford Motor Credit is an indirect, wholly owned subsidiary of Ford Motor Company. (PR Newswire)
Bob Bell Automotive buys Penn Pontiac dealership Aug 2, 2007
In May, automotive finance company GMAC had obtained a confessed judgment of close to $7 million against Penn Pontiac and Carliner. GMAC claimed in court documents that it lent money for the dealership to buy inventory, and the loan was to be paid off by the sale of the vehicles. (Baltimore Business Journal, MD)
GM Reports Preliminary Second Quarter Financial Results Jul 31, 2007
GMAC's automotive finance, insurance and other operations (excluding Residential Capital, LLC (ResCap)) generated more than twice the net income of these same operations in the year-ago period. Despite continued challenges in the residential mortgage industry, ResCap significantly reduced losses in the second quarter. (Canada Newswire)
Bajaj Auto Says Profit Will Rise in Second Half on New Models Jul 15, 2007
Updated: New York, Jul 15 03:40 London, Jul 15 08:40 Tokyo, Jul 15 16:40. By Santanu Choudhury. (Bloomberg)
Seven Malaysian auto companies honoured Jun 28, 2007
Other companies that received awards were Automotive Corp Malaysia Sdn Bhd (in Market Leadership for Commercial Vehicles - Malaysia), Ingress Corp Bhd (Automotive Component Manufacturer of the Year - Malaysia), Public Bank Bhd (Automotive Finance Company of the Year - Malaysia) and Automotive Synergy Sdn Bhd (Business Development Strategy for Navigation Market - Malaysia). Frost van partner and head of the automotive and transportation practice for Asia-Pacific Kavan Mukhtyar said automotive... (The Star Online, Malaysia -- Business)
Submit Your Classic Car Photo Jun 22, 2007
New Cars, Used Automobiles, Automotive Finance, Insurance - Los Angeles. Friday, June 22, 2007, 3:16 am. (NBC4.tv, CA)
Twin Cities Habitat for Humanity Teams up with GMAC on Homeownership Preservation Efforts in Minneapolis Jun 6, 2007
About GMAC Financial Services GMAC Financial Services, a global, diversified financial services company that operates in approximately 40 countries in automotive finance, real estate finance, insurance and other commercial businesses. GMAC was established in 1919 and currently employs 31,000 people worldwide. (PR Newswire)
Luxury car dealer heads for bankruptcy court Jun 4, 2007
Among Platinum's largest creditors is Automotive Finance Corp. of Austin, which has a $232,000 claim against the company. The company also owes a combined $308,000 in car loans to DSC of San Antonio and Manheim Auto Finance Service of Austin, the court filings show. (Austin Business Journal, TX)
Delek Group Announces Consolidated Results for the First Quarter of 2007 May 30, 2007
TEL AVIV, Israel, May 30 /PRNewswire-FirstCall/ -- Delek Group Ltd. (TASE: DLEKG) (hereinafter: "Delek Group" or "The Group") today reported its results for the three months ended March 31, 2007. The financial statements are available on Delek Group's website at: First Quarter 2007 Highlights - Net income of NIS 325 million - Recorded net capital gain of NIS 143 million (pre tax) on the sale of 12. (PR Newswire)
First Cash Reports 35% Increase in First Quarter Net Income and EPS Apr 18, 2007
While much media attention has been focused on credit-quality issues in the sub-prime mortgage industry, there was little, if any, such effect on first quarter credit losses in the Company's cash advance and automotive finance receivables. First quarter revenues and profitability were also boosted by the continued rapid maturing of stores opened over the past three to four years. (Primezone Releases)
Campus CEOs Find Much Needed Support From World's Leading Entrepreneurs Apr 13, 2007
ABOUT MERCEDES-BENZ FINANCIAL Mercedes-Benz Financial is a full-service automotive finance company that exclusively provides Mercedes-Benz dealers and their customers with attractive finance products that mirror the quality and broad scope of the Mercedes-Benz product range. With 10,800 people in 100 offices across 39 countries, and a portfolio of more than $123 billion, Mercedes-Benz Financial is an integral part of the third largest financial services provider in the world -- DaimlerChrysler... (PR Newswire)
Westlake Financial Services Celebrates One Year of Production on SuperSolutions' Daybreak Lending Suite Mar 27, 2007
About Westlake Financial Services Westlake Financial Services, Los Angeles, California, is an Internet-based indirect automotive finance company that focuses on the origination, servicing and collections of automotive receivables from independent dealerships, particularly in the sub-prime market. Westlake Financial Services is privately held and is part of the Hankey Automotive Group, which includes franchise and rental car operations in Los Angeles, as well as various real estate holdings,... (PR Newswire)
Spencer: Repo's a dirty job, but somebody has to do it Mar 18, 2007
So I tell her about Peggyann Warder and the truck she just had repossessed by Chase Automotive Finance. I tell her about how her husband, Jim, died and how the truck was in his name but that she'd kept up all the payments right up until the time Chase hired a repo company to snag it in the middle of the night. (The Delaware County Times, PA)
Spencer: Widow keeps late husband’s promise Mar 16, 2007
It would have been nice if the folks at Chase Automotive Finance had made this clear by declining to accept all the money Peggyann had been sending them. But they didn t. They took her money. (The Delaware County Times, PA)
GMAC quarterly earnings take leap Mar 14, 2007
"The all-time record performance of our insurance business and strong net income at our global automotive finance operations helped to offset an earnings setback in the real estate finance segment." ... "Operating performance in the automotive finance and insurance businesses were sound and should improve over time as the company continues to fully execute its business plan," Fitch said in a statement. (Detroit Free Press)
GM Reports 2006 Financial Results Mar 14, 2007
QUICK SEARCH BY ORGANIZATION. FREE SUBSCRIPTION SERVICES. (Canada Newswire)
