Car dealerships reeling from economic downturn (Atlanta Journal-Constitution)

One in 30 new-car dealerships will be out of business by the end of the year, with 1,000 more expected to fail in 2009. A dozen of those failed dealerships have Georgia roots. One of the nation's largest Chevrolet dealers, Bill Heard Enterprises, closed 14 of its dealerships, including four metro Atlanta locations, leaving employees and customers dazed and stranded. The disturbing trend shows ...

Judge gives DC transit relief on $43M loan payment (San Francisco Chronicle)

A federal judge has granted temporary relief to the Washington area's transit agency after a Belgian bank threatened to immediately collect $43 million on a loan. KBC Group requested the money following the collapse of insurance giant American International...

Pininfarina to Meet With Creditors on Debt Plan, Sole Reports (Bloomberg)

Oct. 31 (Bloomberg) -- Pininfarina SpA , whose car designs include the Ferrari Testarossa and Alfa Spider, will meet today with creditors and its adviser as it seeks more time to pay back debt of 600 million euros ($762 million), Il Sole 24 Ore reported, without saying where it got the information.

(AFX UK Focus) 2008-10-29 16:41 UPDATE 2-EU backs car industry call for soft loans for R&D (Interactive Investor)

BRUSSELS, Oct 29 (Reuters) - The European Commission on Wednesday backed a call by Europe's carmakers for 40 billion euros ($50.98 billion) in soft loans to help develop cars which meet toughening European Union CO2 emissions targets. "Loan subsidies could be provided via the European Investment Bank," EU Industry Commissioner Guenter Verheugen said after meeting auto industry chief executives ...

Sales at Columbia used-car dealership drop (Columbia Missourian)

COLUMBIAâ€"Six months ago, Ashland Auto Sales was selling 20 to 30 used cars a week. Today, the used-car dealership off Business Loop 70 is selling about half that number, thanks in part to fluctuating gas prices and stricter loan requirements. "In this slow economy we have small profits, and some cars have been here a while, so we are losing some money," said Mohammed Diab, owner of the ...

(AFX UK Focus) 2008-10-29 17:40 UPDATE 3-EU backs car industry call for soft loans (Interactive Investor)

BRUSSELS, Oct 29 (Reuters) - EU Industry Commissioner Guenter Verheugen has backed a call by Europe's carmakers for soft loans to help develop cars which meet toughening European Union CO2 emissions targets. The European Automobile Manufacturers Association (ACEA) wants a 40 billion euros ($51 billion) soft loans package to help it develop EU-required green technologies. "Loan subsidies could be ...

City Loan Now Serving Clients Through Pay Day Advance Locations (GlobeNewswire via Yahoo! Finance)

LONG BEACH, Calif., Oct. 29, 2008 -- City Loan, Inc. , in a drive to increase their product distribution, announced today an alliance in the pay day advance market that is projected to be another strong revenue stream.