State Auto Financial Reports First Quarter 2004 Results
Apr 27, 2004
COLUMBUS, Ohio--April 27, 2004--State Auto Financial Corporation -- Record quarterly earnings of $0.80 -- GAAP combined ratio improved to 89.6 -- Book value increased to $14.82, up 20% from 3/31/2003 State Auto Financial Corporation today reported record first quarter 2004 net income of $32,400,000 or $0.80 per diluted ... Continue reading
From The Horses Mouth: Ford Executive Change Press Release
Apr 23, 2004
Chairman and CEO Bill Ford builds upon continuing improvements in company performance with new appointments and realignment of leadership team. Jim Padilla named chief operating officer, Ford Motor Company, and chairman, Automotive Operations. Nick Scheele continues as president, Ford Motor Company. Greg Smith named ex ... Continue reading
Volkswagen AG: Supervisory Board Authorises Executive Board to Acquire Stake in LeasePlan Corp.
Apr 22, 2004
HAMBURG, Germany--April 22, 2004--In its meeting today the Supervisory Board of the Volkswagen Group authorised the Board of Management to acquire jointly with two co-investors the Dutch LeasePlan Corporation N.V., Almere-Stad, from ABN Amro Bank, Amsterdam. The purchase price is 2 billion euro. The selling party will ... Continue reading
Ford to Reinstate Managers' Bonuses After 3 Year Hiatius
Apr 21, 2004
Chicago April 21, 2004; Elizabeth Rigby writing for the Financial Times reported that Ford Motor Company plans to reinstate bonuses for middle and senior managers this year and will start contributing again to a key US employee retirement scheme, suggesting that the automaker's financial health is improving after a per ... Continue reading
Ford's Profit More Than Doubles on Improved Automotive Profits and Continued Cost Cutting
Apr 21, 2004
DEARBORN, Mich. April 21, 2004, John Porretto writng for the AP reported that Ford Motor Co. posted a profit of $1.95 billion in the first quarter, more than double its earnings of a year ago, as improved automotive profits and continued cost cutting lifted results. Its shares rose sharply in early trading. Results for ... Continue reading
Apr 20, 2004
NEWTON, Mass.--April 20, 2004-- Christopher Burdick of AutoHeroes Offers Five Rules to Help Consumers Get Lowest Financing Rate on Their Cars A recent study by the Consumer Federation of America reveals questionable business ethics practiced by automobile dealers when securing loans for their customers. These practices ... Continue reading
GM Earns $1.3 Billion Or $2.25 Per Share In First Quarter 2004
Apr 20, 2004
DETROIT - General Motors Corp. today reported earnings of $1.3 billion, or $2.25 per diluted share of GM common stock, in the first quarter of 2004. These results represent an increase of 24 percent from the year-ago period, when GM earned $1.0 billion, or $1.84 per share, from continuing operations and before special ... Continue reading
CENTRIX Financial to Become 'Official Auto Finance Company of NASCAR'?
Apr 5, 2004
CENTENNIAL, Colo., April 5 -- CENTRIX Financial, a financial management and services firm, today announced it will become the "Official Auto Finance Company of NASCAR," beginning with the 2004 season. Under the multi-year agreement with NASCAR, CENTRIX's official status will extend over all NASCAR series, including the ... Continue reading
Capital Automotive Prices Public Offering of 1,000,000 Common Shares
Mar 30, 2004
MCLEAN, Va., March 29 -- Capital Automotive REIT , the nation's leading specialty finance company for automotive retail real estate, today announced that it has priced a public offering of 1,000,000 of its common shares at $35.15 per share. Net proceeds of the offering are expected to be approximately $35 million. All ... Continue reading
China's Lanxing Formally Gives up Bid for Ssangyong Motor
Mar 29, 2004
SEOUL, March 29, 2004; Yonhap news reported that China's Lanxing Group formally announced its decision Monday to pull out of the bidding for South Korea's Ssangyong Motor Co. In a brief statement released by its South Korean financial adviser, Lanxing said it has finally decided to give up its bid for Ssangyong, follow ... Continue reading
Ssangyong Motor Creditors Revisit Sale
Mar 29, 2004
SEOUL, March 29, 2004; Jean Yoon writing for Reuters reported that creditors of South Korea's Ssangyong Motor Co (KSE:003620.KS - News) could take months to rethink the sale of the carmaker after an initial deal with a Chinese firm fell apart, bank officials and analysts said on Monday. Creditors are not expected to ru ... Continue reading
Power Information Network: Number of 'Upside-Down' Vehicle Buyers is Increasing Substantially
Mar 25, 2004
WESTLAKE VILLAGE, Calif., March 25 -- The number of new-vehicle buyers who owe more on their trade than it is worth -- the classic "upside-down" scenario -- has increased substantially over the past three years, according to retail transaction data from the Power Information Network (PIN), LLC, an affiliate of J.D. Pow ... Continue reading
Chrysler Financial Exits the Lease Market in the State of New York
Mar 25, 2004
* Chrysler Financial Exit Effective May 1, 2004 * Company Urges Legislators to Change Antiquated Law FARMINGTON HILLS, Mich., March 25 -- Chrysler Financial, a business unit of DaimlerChrysler Services North America LLC , announced today it will no longer offer leasing in the state of New York beginning May 1, 2004. Ne ... Continue reading
American Honda Finance Corp. To Resume Leasing In New York
Mar 24, 2004
TORRANCE, Calif., March 24 -- American Honda Finance Corporation (AHFC), a wholly owned subsidiary of American Honda Motor Co., Inc., today announced that AHFC and its affiliates will resume vehicle leasing in New York state effective today. The move is in direct response to consumer desire for the ability to lease Hon ... Continue reading
GM Financing To Open Banks- Toasters anyone?
Mar 19, 2004
DETROIT, March 19, 2004; Michael Ellis writing for Reuters reported that General Motors Corp.'s finance unit plans to open a bank, selling certificates of deposit to diversify assets after a series of rating downgrades made it more expensive to tap debt markets, officials with the unit said on Friday. The bank in Utah ... Continue reading
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