Category: Personal Finance
Honda plans about $500M in new construction for North America
Honda Motor Co. plans $500 million in new construction for North America as the company begins shifting manufacturing capacity from Japan to the United States. The auto maker plans to expand its production capacity in North America by more than 40% within the next two years, as exporting cars manufactured in Japan is becoming increasingly [...]
IBM, Honda, PG&E team up to enable smarter charging for electric vehicles
IBM announced that it has teamed with American Honda Motor Co. Inc. and Pacific Gas and Electric Co. on a new pilot project that will allow communication between electric vehicles (EVs) and the power grid. The project will demonstrate and test an electric vehicle’s ability to receive and respond to charge instructions based on the [...]
Amalgamated Bank closes equity investments from WL Ross, Yucaipa Companies
Amalgamated Bank announced that it has closed an investment in the bank by WL Ross & Co. LLC and The Yucaipa Companies. Through their affiliates, the two firms have invested about $50 million each to purchase an aggregate of about 40% of Amalgamated Bank’s common stock. The transaction has received all required approvals from regulatory [...]
RoadLoans.com selected preferred auto lender for Cars.com customers
Online automotive research site Cars.com has selected RoadLoans.com as its exclusive lender for its online customers. Visitors to Cars.com, newcars.com and pickuptrucks.com can get pre-approved for auto financing as part of their automotive shopping experience. RoadLoans.com is an online auto lender specializing in new and used auto financing for customers with all types of credit [...]
NADA forms strategic alliance with J.D. Power
The National Automobile Dealers Association said it has formed a strategic alliance with J.D. Power and Associates to help dealers leverage their own business data to receive enhanced market intelligence through J.D. Power’s Power Information Network. The alliance is a major step in NADA’s ongoing efforts to help dealers use their data to improve operations [...]
Ex-Im Bank approves $84.8M for Brazilian airline maintenance
The Export-Import Bank of the United States announced that its board of directors has approved a final commitment for an $84.8 million loan guarantee to Brazilian airline VRG Linhas Aereas SA. The financing will support the export of engine maintenance services by Delta TechOps, a subsidiary of Delta Air Lines. “Ex-Im Bank’s financing will support [...]
Toyota hiring 150 engineers at R&D tech center in 2012
Toyota Technical Center, a division of Toyota Motor Engineering & Manufacturing North America Inc., announced that it will hire about 150 engineers, technicians, advanced researchers and scientists by the end of 2012. The hiring reinforces Toyota’s commitment to localizing vehicle design and development in the North American region, according to a news release. Also, Toyota [...]
Epicor buys Internet AutoParts
Epicor Software Corp., which offers business software solutions for manufacturing, distribution, retail and services organizations, announced that it has acquired Internet AutoParts, a provider of business-to-business (B2B) eCommerce solutions for automotive replacement parts distributors, jobbers and vehicle repair businesses. Terms of the deal were not disclosed. The acquisition enables Epicor to lead automotive aftermarket integrated [...]
Mercantile Bank announces TARP repurchase
Mercantile Bank Corp. has repurchased 50% of the $21 million in non-voting preferred stock issued in May 2009 to the U.S. Department of the Treasury under the Treasury’s Capital Purchase Program, as part of the Troubled Asset Relief Program. “Our ability to complete this repurchase transaction solely with internally generated funds illustrates Mercantile’s strong capital [...]
ZENN Motor announces private placement
ZENN Motor Co. Inc. announced a non-brokered private placement to raise up to $2.0 million for working capital and general corporate purposes. The placement has been fully-allocated and the company expects to complete the maximum offering. ZENN Motor intends to place up to 2,352,941 units at a price of $0.85 per unit, with each unit [...]
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