Auto Lending News Reports:
On Nov. 5 Steve Forbes will be given real solutions to the financial problems we are all facing in these uncertain times. You can sign up for the summit without any obligation.
First I want to point out that the company sponsoring this meeting is an investment advisory firm. Having said that I still think it would be worth your while to listen to what they have to say. Listening does not obligate you to anything. I am not promoting them just want to point out the fact that Steve in my opinion has a timely message.
To get and idea of the subject matter you may want to consider visiting the Emergency Dollar Summit web site prior to the meeting. View their videos . . . read their article . . . and then like me you may want to make your voice heard by encouraging others to partaking in the “live blogs,” submit comments and questions on topics that concern you.
Because of Federal laws the meeting is limited to Accredited Investors. People that have assets greater than a million dollars. If you are an Accredited Investor click yes if not who really knows?
Go to:http://w3.newsmax.com/a/dollar/vipaccess/blog.cfm
Bill Fowler
Provided by the Auto News RSS Feed: Join Steve Forbes For The Emergency Dollar Summit
Auto Lending News Reports:
In an entry on the White House blog yesterday, White House Director of New Media Macon Phillips calls Edmunds.com’s C4C analysis “faulty” and “designed to grab headlines.” The 500-word blog came in response to data released the day prior by the auto-info provider that concluded that Cash for Clunkers cost taxpayers $24,000 per vehicle sold.
At the heart of the debate is the percentage of C4C new-vehicle sales that were incremental — in other words, sales that would not have occurred without the government-funded C4C program. Edmunds estimated that number at 18%, while the White House put it in the 64%-to-81% range.
Click here to read the White House blog post.
Click here to read Edmunds.com’s response.
And here’s the original Edmunds.com Cash for Clunkers analysis.
Provided by the Auto News RSS Feed: White House Blasts Edmunds.com Over C4C Claims
Auto Lending News Reports:
There appears to be a some Wall Street investors moving toward below-the-radar financial services stocks, and yesterday Nicholas Financial, the subprime auto lender, got some props, via SeekingAlpha.com, from fund manager Eddy Elfenbein, who writes the Crossing Wall Street blog:
Nicholas Financial (NICK) just came out with earnings and it was another good quarter. The company earned 22 cents a share compared with just eight cents a year ago.
It really is remarkable how cheap this stock is. For the first six months of their fiscal year, NICK earned 43 cents a share. For Q4 of last year's fiscal quarter, they made 20 cents a share, so that's 63 cents for the last three quarters. The big issue to watch for NICK is percentage for credit losses, and that fell to 5.84% from 9.86% a year ago. This is the second quarter in a row of declining year-over-year numbers. In other words, things are most likely to get better for them.
Whoever sold out last week was probably expecting some bad news. Well, it didn't come.
NICK is trading just south of $7 per share, approaching its 52-week high. The company has a market capitalization of nearly $73 million.
Provided by the Auto News RSS Feed: Some Props for Nicholas Financial
