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It was reported that for the ninth year in a row, the most popular car color was silver. In fact, GM says that this year, all three of the cars they sold were silver. But I saw a clever sign at a car dealership: "The best way to get back on your feet? Miss a car payment." We had some good news...
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Yesterday was a special day. In the late afternoon I visited Costco, which some people feel simultaneously represents everything that is both bad and good about the retail channel. The change in time over the weekend had made it so the setting sun showed through the front entrance, illuminating the Samsung...
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What do Bank USA, National Association of Phoenix; California National Bank of Los Angeles; San Diego National Bank; Pacific National Bank of San Francisco; Park National Bank of Chicago; Community Bank of Lemont, Illinois; North Houston Bank; Madisonville State Bank of Madisonville, Texas; and Citizens...
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Attack of the FHA loan files? Most of the United States begins Daylight Saving Time at 2:00 a.m. on the second Sunday in March and reverts to standard time on the first Sunday in November. So by my calculations, that means that this Sunday here in the U.S. most of us "fall back" and it will...
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America is a great country, but... Over the weekend I was talking to my two kids about not spending more money than you have. "Neither one of you makes much money, so you shouldn't go out and buy stuff that you can't afford - talk to your grandparents who lived through the Depression."...
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Is there ever a day that mattresses are not "on sale"? Securities are always for sale. I love this kind of talk: "Agency MBS reversed course this week as much of the coupon stack underperformed against duration hedges." That is what I received from a buddy who works for a large investment...
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The financing arm of General Motors managed to turn a profit in the fourth quarter, as a result of a debt-exchange program that allowed it to raise capital and ride out a collapse in auto sales. GMAC Financial Services earned $7.5 billion in Q4 after a loss of $724 million in the same quarter a year...
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Are you kidding me? Isn't this how we got here in the first place? General Motors Corp and its GMAC funding affiliate launched programs on Tuesday to lure U.S. car and truck buyers back into showrooms as the largest U.S. automaker tries to revive its sagging fortunes. GM began offering zero-percent...
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After months of failed attempts, General Motors' financing arm, GMAC , was granted bank holding status from the Federal Reserve on Dec. 24 in a move that will allow the struggling firm to access funds from the Treasury's Troubled Asset Relief Program . "In light of the unusual and exigent...
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General Motors was dealt another blow on Wednesday with its financing arm GMAC failing to meet the capital requirements to become a bank holding company . As a consequence, the firm will not be able to tap funding from the Treasury, one of GM's major efforts for remaining afloat. All eyes now turn...