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Americans Paying Off Car Loans Before Mortgage, Credit Cards
Among all the loans being held by Americans, car notes appear to have lower delinquency rates, according to a report by the Associated Press. Speaking with TransUnion, a credit information agency, the...
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Chart Of The Day: Channel Stuffing Bonanza
Today’s Chart comes from finance blog Zero Hedge, which has taken a periodic interest in General Motors channel stuffing endeavors. While we don’t normally report on stock prices here at TTAC, this...
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GM Bumps Up Q3 Results Prior To Election Day
General Motors hasn’t announced their Q3 financial results prior to November in six years, but they intend to announce them on October 31st, 2012 – just prior to the U.S. general election on November...
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Canadian Governments Hoping For GM Buyback Of Shares
Shares of General Motors held by the Canadian federal government and the government of Ontario may have difficulty unloading their $9 billion stake in General Motors, according to a report by...
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Lotus Owes Suppliers Nearly $37 Million
A report in The Independent revealed that Lotus owes supplies nearly $37 million and has even asked for tax payment deferments to help manage its cash flow. The Independent paints a picture of parent...
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Despite “Buy” Ratings, Wall Street Frustrated By GM
GM’s stock is still considered a “Buy” in the eyes of much of Wall Street, but analysts say that more changes are needed to accelerate the pace of growth in the post-Bailout era. Ben Klayman of...
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VEBA Shortfalls And Rising Health Care Costs: A Recipe For Disaster
The Voluntary Employee Beneficiary Association, or VEBA, was initiated as a way to get retiree healthcare costs off the books of Detroit’s auto makers. While VEBA makes balance sheets look better,...
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With Junk Status Looming, PSA’s Finance Arm May Be Its Savior
How does the French government save an ailing car maker that employs thousands of people without actually bailing out the auto maker? By baling out their finance unit, of course! Banque PSA Finance,...
View ArticleWorkers At LG Chem Plant On Furlough As Green Jobs Wilt
Click here to view the embedded video. Workers at an LG Chem plant in Holland, Michigan have already been put on furlough before a single battery has come off the line. Workers have three weeks of paid...
View ArticleSuzuki Death Watch 6: It’s Official, Suzuki Is No More
Click here to view the embedded video. (NSFW language) Months ago, we began our Suzuki Death Watch, and today, we hear the executioner’s song. Suzuki’s North American distribution arm filed for...
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Ontario Pushing To Dump GM Stock At A Significant Loss
The government of Ontario is calling on the Canadian government to sell off its shares in GM, obtained as part of a bailout package for the automaker in 2009. Canada’s $13.7 billion bailout package...
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Question Of The Day: When Financing A Car, What Information Should Be Fair Game?
Your personal information is valuable. When I liquidated vehicles for Capital One, we typically examined over 14,000 variables before lending out our money to a customer. Any customer. A credit card....
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Suzuki Death Watch 13: Suzuki Gets $50 Million To Buy More Inventory
Suzuki’s death rattle continues unabated as the company’s American distribution arm will receive $100 million in financing, half of which is earmarked to purchase inventory from parent company Suzuki...
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Avis Budget Group Buys Zipcar For $500 Million
Zipcar, the leading player in car sharing in North America, is about to be acquired by Avis Budget Group for $500 million in cash. The rental car firm will pay $12.25 per share, a whopping 49 percent...
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EU Approves Banque PSA Financing, Demands Total Restructuring
After approving a $1.6 billion loan guarantee for PSA’s captive finance arm, the European Commission demanded a restructuring plan for all of PSA within six months. Reuters quotes an EU spokesman as...
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Tesla’s Q4 Results Raise Questions About Long-Term Future
Tesla Motors Inc. released its Fourth Quarter & Full Year 2012 Shareholder letter on Wednesday. While the letter provides a very positive outlook for Tesla’s future, there are some questions...
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The 1991 GMC Jimmy SLE – The Car I NEVER Should Have Bought
1991 GMC Jimmy SLE The 1991 GMC Jimmy was a throwback to a better time. The design, originally introduced in the 1973 model year, was all truck and its square, upright design spoke volumes about...
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Tesla Reports Q1 Profit, Cancels 40 kWh Model
Just ahead of their Q1 2013 earnings called, Tesla announced that they were profitable in the first quarter of the year, with deliveries exceeding their own targets. In addition, Tesla has also...
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America’s Next Top Bubble: Delinquencies Down, Deals Up In ABS Land
The largest asset-backed securities deal since prior to the mortgage crisis, worth $1.6 billion, was announced last week. Meanwhile, one ratings agency is touting their low delinquencies as positive...
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Tesla Revises Financing Plan
Tesla is changing course with its lease/financing plan, with CEO Elon Musk tacitly admitting that Tesla got it wrong the first time around. Initial calculations of the Tesla “lease” program included...
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