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About 100 Chrysler Group US dealerships are in danger of closing unless they enter new financing deals with GMAC Financial Services or another lender, according to people familiar with the process. Chrysler spokeswoman Kathy Graham said however that Chrysler remains optimistic that all or almost all of these dealerships would find financing for vehicle inventories and other expenses by the end of November. Last June, Chrysler emerged from a government-funded bankruptcy in June with about 2,400 dealershi  

The report from the Mortgage Bankers Association also found that 14 percent of homeowners with a mortgage were either behind on payments or in foreclosure at the end of September. It was a record-high figure for the ninth straight quarter. The data suggest the housing market and the broader recovery will remain under pressure from the surge in home-loan defaults, especially as unemployment keeps rising.

There’s no indication in this data that foreclosures are going to abate anytime soon   -Mark Zandi

 

"What are rates gonna do tomorrow?" "Why is IndyMac a point better than we are?" Anything associated with "Did you hear what they said on CNBC this morning.......?"

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You may not have bought a General Motors Co. or Chrysler car, but you're still paying for one, according to a new report by the National Taxpayer's Union. Every American taxpayer has put up $12,200 for every GM car sold through the beginning of 2011 and $7,600 for every Chrysler sold. The study, which is based on a November report released by the Government Accountability Office , found that the average American taxpaying family has invested about $800 in the auto bailouts so far.

Between this and GM’s plan to pay back their bailout debt with other taxpayer funds, I wonder if all those Americans without work right now could think of any better ways to spend that money   -Pete Sepp

 

With 2010 looming ahead, the bumpy ride of 2009 will soon be in the rearview mirror. John Tanner of Tanner Motors in Brainerd said 2010 will continue to be a challenge for auto dealers. Tanner said November sales are about as bad as he's ever seen.

I hear the same story from everybody   -John Tanner

 

A federal jury awarded Don M. Mente, the owner of two Berks County car dealerships that were suddenly shut down in 2007, $4 million in damages Thursday in a lawsuit against GMAC, according to Mente and his attorney. The amount of the award could not be independently confirmed Thursday night. The dealerships, Mente Chevrolet in Richmond Township and Mente Chrysler Dodge Jeep in Maxatawny Township, were both closed abruptly in July 2007.  

Michael A. Carpenter , GMAC 's newly installed chief executive, says his top priority is to stop its troubled mortgage unit from dragging down the rest of the $178 billion-asset company. Carpenter, a former senior executive at Citigroup , said he is looking at "every conceivable alternative," including bankruptcy, for Residential Capital. The unit, which has lost $9.2 billion over the last eight quarters, is the main reason GMAC has taken $12.5 billion of federal capital and was seeking as much as $5.6

If you look at the history of ResCap, it's been full of surprises and it's been the gift that keeps on giving   -Michael A Carpenter

 

hrysler Group LLC may have to terminate as many as 145 more U.S. dealers unless the retailers can find lenders to finance their new-vehicle inventory. GMAC Inc., which replaced Chrysler Financial as the preferred lender for the Auburn Hills, Michigan-based automaker's dealers, has been negotiating with Chrysler retailers, said Sue Mallino, a GMAC spokeswoman. If dealers can't get the financing from GMAC, they may lose their franchise agreement unless they can find another lender, said Kathy Graham, a  

The American taxpayer has put up $12,200 for every General Motors vehicle sold through the beginning of 2011, and $7,600 for every Chrysler vehicle sold as well, according to a new report issued by the 362,000-member National Taxpayers Union (NTU). The report, The Auto Bailout - A Taxpayer Quagmire , authored by NTU Adjunct Scholar Thomas D. Hopkins, Professor of Economics at the University of Rochester, does the math on what the government bailout of the auto industry - including General Motors, Chrysle

Every time someone in your neighborhood drives home in a shiny new Chevy Silverado, remember that it cost American taxpayers more than $12,000   -Pete Sepp

 

View full size (Press-Register Illustration: Brian Lyman/Computer graphic via Creative Commons) The SEC is likely to fill all its bowl slots this year, testifying to the depth of the conference. Last year, the conference regarded by many as the best in college football did not fill all its bowl tie-ins. The SEC had eight bowl-eligible teams last season and, with both Florida and Alabama in BCS bowls, filled only seven of its nine bowl obligations, leaving the Independence and the Papajohns.com bowls scr

I've always said the biggest difference in our conference is not necessarily the teams at the top -- although we've had some great teams at the top and a lot of teams that have competed for the national championship and quite a few that have actually had success at it   -Nick Saban