GM names Eric A. Feldstein president of GMAC
Nov 4, 2002
NEW YORK, Nov 3, 2002; Reuters reported that General Motors Corp., the world's largest automaker, said on Sunday it has named Eric A. Feldstein to lead finance unit General Motors Acceptance Corporation (GMAC), succeeding Chairman and President John D. Finnegan, effective immediately. Finnegan resigned to become presid ... Continue reading
Chubb names GMAC's Finnegan as CEO, ending search
Nov 4, 2002
NEW YORK, Nov 3, 2002; Bill Rigby writing for Reuters reported that Chubb Corp., a leading U.S. home and business insurer, on Sunday named John Finnegan, president of General Motors Corp.'s finance unit, as its new chief executive, ending a six-month search for a new chief. The appointment, effective Dec. 1, ends a per ... Continue reading
Nov 3, 2002
Thomas Motamed Is Promoted to Vice Chairman and COO; John Degnan and Michael O'Reilly Are Promoted to Vice Chairmen WARREN, N.J., Nov. 3, 2002; John D. Finnegan, Executive Vice President of General Motors Corporation and Chairman and President of General Motors Acceptance Corporation (GMAC) has been elected President, ... Continue reading
Strong Operating Performance Allows Fitch To Affirm Debt Of GM And GMAC
Oct 31, 2002
NEW YORK & CHICAGO--Oct. 31, 2002--Fitch Ratings affirms the senior unsecured debt of General Motors Corporation (GM), the senior unsecured debt of General Motors Acceptance Corp. (GMAC), and both tranches of GM's convertible senior debentures at 'A-'. Fitch also affirms the corresponding commercial paper ratings at 'F ... Continue reading
GM to Extend '0,0,0' Incentive to Jan. 2
Oct 30, 2002
Wednesday 9:52 am ET DETROIT October 30, 2002 Reuters reported that General Motors Corp., faced with sluggish automobile sales, said Wednesday it would extend through Jan. 2 its "triple zero" incentive program on most of its vehicles. The world's largest automaker offered no down payments, no payments for three months ... Continue reading
Bank Of Italy Blocks Lehman-Mediobanca Deal On Ferrari
Oct 28, 2002
MILAN October 28,2002; Dow Jones reported that The Bank of Italy has blocked a deal in which Mediobanca SpA would sell 6.5% of its 21.5% stake in luxury sportscar maker Ferrari SpA to Lehman Brothers Holdings Inc., Mediobanca said in its first-quarter earnings report Monday. "(The bank's investment portfolio) includes ... Continue reading
Oct 23, 2002
Business Editors NOTE TO MEDIA: Multimedia assets available NEW YORK--Oct. 22, 2002-- Leading Experience Brands Differ Sharply from Traditional Brand Rankings Saturn, Gateway, Wal*Mart Lead the Field Wunderman (www.wunderman.com) today announced the results of a groundbreaking research initiative, the Wunderman Brand E ... Continue reading
GMAC Mortgage Plan Aims To Make Housing Accessible To More Americans
Oct 22, 2002
FOR RELEASE: October 22, 2002 HORSHAM, Pennsylvania, - GMAC Mortgage has announced the broad availability of the HomeStretchtm plan, a unique mortgage financing option that speeds the acquisition of a home for qualified consumers. HomeStretchtm removes the greatest obstacle to home ownership - the onerous down payment, ... Continue reading
Navistar Notifies UAW of Termination Of Contract Extension
Oct 21, 2002
WARRENVILLE, Ill., Oct. 20, 2002; International Truck and Engine Corporation announced today that it notified the United Auto Workers union that the extension of the labor contracts between the company and the UAW will be terminated at 12:01 a.m. Tuesday, October 22. The labor agreements were scheduled to expire on Oct ... Continue reading
WFS Financial Reports Record Net Income in Third Quarter
Oct 17, 2002
IRVINE, Calif.--Oct. 16, 2002-- -- Third quarter net income rose 150% to a record $23.3 million -- Earnings per share were $0.57 on a GAAP basis and $0.81 on a portfolio basis -- Automobile contract purchases increased 14% to $1.4 billion -- Total revenues grew 45% to $155 million WFS Financial Inc today reported recor ... Continue reading
FORD CREDIT EARNS $294 MILLION IN THE THIRD QUARTER- (Even With 0% Financing Huh?)
Oct 16, 2002
DEARBORN, Mich., October 16, 2002 – Ford Credit earned $294 million in the third quarter of 2002, compared with $376 million in the same period a year ago. Excluding adjustments related to SFAS No. 133 (Accounting for Derivative Instruments and Hedging Activities), Ford Credit earned $408 million, up $19 million ... Continue reading
AmeriCredit Reports First Quarter Operating Results
Oct 16, 2002
FORT WORTH, Texas--Oct. 15, 2002--AmeriCredit Corp. today announced net income of $70.2 million, or $0.81 per share, for its first fiscal quarter ended September 30, 2002, versus earnings of $78.7 million, or $0.88 per share, for the same period a year earlier. Automobile loan purchases were $2.42 billion for the first ... Continue reading
GM Announces 0.0% for 60 Months on most ’02 and ’03 Passenger Cars and Minivans
Oct 11, 2002
FOR RELEASE: October 10, 2002 GM Announces 0.0% for 60 Months on most ’02 and ’03 Passenger Cars and Minivans DETROIT - General Motors Corp. today announced enhancements to its retail marketing programs on 2002 and 2003 model year vehicles. Effective today and continuing through October 31, GM is offering A ... Continue reading
Dave Gilbert Named President of Clear!Blue Chicago
Oct 2, 2002
CHICAGO, Oct. 2 -- Dave Gilbert, former president of Golin/Harris International, has been named president of Clear!Blue Chicago LLC, a strategic communications and events company that is part of Clear!Blue LLC, a national company with international reach, based in Birmingham, Michigan. As President of Clear!Blue Chicag ... Continue reading
Ford To Offer 0.0% Financing On 2003 Trucks,SUVs
Oct 1, 2002
Tuesday 11:48 am ET DEARBORN, Mich. -October 1, 2002 Dow Jones reported Ford Motor Co. will offer 0% financing and cash rebates of up to $2,000 on most 2003 Ford brand trucks and sports utility vehicles. In a press release Tuesday, the company said the incentives are available immediately, through Jan. 2, 2003. ... Continue reading
The Auto Channel content library (since 1996) has grown to become the world’s most extensive and complete interactive archive of automotive centric news, articles, reviews and intense event coverage, presented to viewers as Text, Video and Images.
