Report: Ally Financial’s IPO Garners $2.38 Billion

Ally Financial Inc., the auto lender rescued by the U.S. government during the 2008 financial crisis, raised $2.38 billion in its initial public offering after pricing the shares at the bottom of the proposed range. The U.S. Treasury Department, Ally’s majority shareholder, sold 95 million shares for $25 apiece, according to data compiled by Bloomberg. […]

GECDF Files Suit Against Calif. Dealer McMahon’s

Citing a “default” on payments, GE Commercial Distribution Finance (GECDF) is seeking a restraining order against Mega RV Corp., an entity doing business as McMahon’s RV and now dissolved finance arm MCMRV Inc. Per documents initially filed April 4 by GECDF in the Central California U.S. District Court, the high-profile dealership – one of a […]

Hurricane-Ravaged Cape Hatteras KOA Reopening

For many, vacationing in the Outer Banks of North Carolina is a peaceful respite. The beautiful coastline unfolds hundreds of miles of natural beaches and sand dunes covered with sea oats dancing in the coastal breeze. Cape Hatteras Kampgrounds of America (KOA), located on Hatteras Island, offers premier camping in the midst of such paradise. […]

Coach-Net Launches Affinity Rewards Credit Card

Coach-Net announced it has partnered with UMB CardPartner to launch the Coach-Net affinity Visa Platinum Rewards credit card. According to a press release, Coach-Net members as well as non-members are eligible to apply for card membership. The Coach-Net Visa Platinum Rewards card offers qualified cardholders numerous benefits, including competitive rates and terms along with a […]

Unemployment claims fall by 32,000 last week

(April 10, 2014) -- "Today’s reported decline left initial claims at their lowest level in almost seven years and well below readings that prevailed during most of the winter," said Nye. "Importantly, the U.S. Department of Labor noted that there were no special factors impacting this week’s initial claims."