Prime US auto asset-backed securities losses up 60 pct yr-on-yr basis…
The News Review:
- Prime US auto asset-backed securities losses up 60 pct yr-on-yr basis…
- CSK Auto says O’Reilly rejected confidentiality agreement
- Safeco Shares Drop on Higher Auto Claims
- Auto leaders add to pressure for federal cash
Prime US auto asset-backed securities losses up 60 pct yr-on-yr basis…
Forbes – Feb 1, 2008
Fitch said ABS rose to 1. 34 pct in December 2007 which is a 15. 5 pct jump over November. In its quarterly auto ABS newsletter ‘In the Auto ABS Driver’s Seat’ the ratings agency said the ANL rate has more than doubled through the end of 2007 compared with the rate of 0.
CSK Auto says O’Reilly rejected confidentiality agreement
MarketWatch – Feb 1, 2008
confirmed Friday that it has received an unsolicited proposal from O’Reilly Automotive Inc. to acquire all of the outstanding shares of CSK Auto but O’Reilly has declined to sign a confidentiality agreement which precludes access to non-public information. CSK Auto said it plans to proceed with the process to enhance shareholder value as planned. Shares of CSK Auto surged over 52% to $8.
Safeco Shares Drop on Higher Auto Claims
Motley Fool – Feb 1, 2008
shares tumbling Friday. The Seattle property and casualty insurer slipped $2. 1 percent to close at $50. Late Thursday Safeco reported 33 percent lower fourth-quarter profit as higher claims in its auto insurance business weighed on the bottom line.
Auto leaders add to pressure for federal cash
Globe and Mail – Feb 1, 2008
write(lugAC);} placeAC(”lug”); AUTOMOTIVE Auto leaders add to pressure for federal cashMcGuinty voices concern for industry GREG KEENAN and STEVEN CHASE With a report from Karen Howlett in Vancouver February 1 2008 TORONTO and OTTAWA — The Harper government came under fresh pressure for financial aid this week from top executives at Canada’s auto makers as Finance Minister Jim Flaherty works to craft the 2008 budget. Senior auto executives met with Mr. Flaherty and Industry Minister Jim Prentice on Tuesday pleading for help to offset the soaring Canadian dollar the huge cost of stricter fuel economy standards and a new U. labour deal that makes American workers more competitive industry sources said.
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