Category Archives: Bank of America

Report: Hyundai set to offer $1.17b in bonds backed by car loans

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Filed under: Hyundai , Earnings/Financials Hyundai is joining Ford and Ally Bank in this year’s crop of auto industry bond issuances. In four tranches Hyundai will sell $1.17 billion in securities backed by car loans, with Barclays Capital, Bank of America Merrill Lynch and Societe Generale handling the issue. Although now is usually a quiet time for such transactions, the ability to get investors’ attention, lower risk and better rates for debts backed by consumer loans have been cited as reasons for such forays into the market.

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Report: Hyundai set to offer $1.17b in bonds backed by car loans

BREAKING: General Motors files for IPO

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Filed under: Government/Legal , GM , Earnings/Financials General Motors , the largest automaker based in the United States, has officially filed paperwork with the Securities and Exchange Commission for an Initial Public Offering. By offering preferred stock along with its IPO, GM is looking to allow the U.S. Treasury (and by extension, American taxpayers) the chance to reduce its stake in the automaker as much as possible. Unlike common stock, preferred stock carries both debt and equity, is rated by the world’s credit rating companies and typically has priority over common stock in the event that the company goes into bankruptcy

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BREAKING: General Motors files for IPO

Report: Italian gov’t siezes Flavio Briatore’s $22M yacht

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Filed under: Europe , Government/Legal , Celebrities The Italians don’t play when it comes to tax evasion and financial crimes, with a special branch of the army called the Guardia di Finanza solely devoted to busting those who play with numbers. Flavio Briatore is one of the most recent big fish caught in the Guardia’s net; his $22-million yacht, Force Blue , was impounded over the weekend off the coast of the Italian Riviera. The perma-tanned Briatore keeps the yacht registered in the Cayman Islands and claims it’s hired out by the week, but Italian authorities contend that Briatore spends a hefty portion of the year on the vessel. In fact, when the dawn raid was carried out, Briatore’s wife and son were on board.

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Report: Italian gov’t siezes Flavio Briatore’s $22M yacht

Study: Where do our nav systems take us most? Walmart

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Filed under: Etc. , Technology Groan. Remember the $350,000 Rolls-Royce Phantom parked in front of a Walmart ? Apparently it’s not an isolated case

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Study: Where do our nav systems take us most? Walmart

Bank of America refusing to give loans for Saabs?

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Filed under: Car Buying , Etc. , Saab Saab floats along in limbo as General Motors figures out what to do with its Swedish plum, meaning that dealers are stuck with moribund product to try and unload. It’s as nasty as it sounds for the automaker, but for buyers, it means deals on Saabs like never before.

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Bank of America refusing to give loans for Saabs?