| Auto sales show industry beginning to stabilize |
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--(www.FinancialNewsUSA.com)-- 11/04/2009 - Most Popular industry news provided by Financial News USA. DETROIT (AP) -- After months of roller-coaster results, the U.S. auto industry showed signs of stability in October. Total sales of cars and light trucks were unchanged at just over 838,000 compared with October of last year, but rose 12 percent from a dismal September 2009, Autodata Corp. reported Tuesday. The results signaled that some consumers are starting to spend again and the sputtering economy is beginning to pull out of trouble. "It's ... a fairly stable kind of footing that the industry is getting under it," said Gary Dilts, a former Chrysler sales executive who is now senior vice president of global automotive operations for J.D. Power and Associates. Last month's sales, if projected for an entire year, rose to 10.5 million after slumping to 9.2 million in September, the month after the government's Cash for Clunkers rebates ran out. [Read the full article] DETROIT (AP) -- General Motors Co. said Tuesday it will keep its European Opel unit and restructure it instead of selling a 55 percent stake to Canadian auto parts maker Magna International and its partner, Russian lender Sberbank. AP - FILE - This April 21, 2009 file photo shows General Motors, GM, world headquarters in Detroit. General Motors ... GM's board of directors made the decision at a daylong meeting after determining that a 3 billion euros ($4.43 billion) restructuring plan was significantly lower than what GM would have had to contribute to other bidders for the division. GM CEO Fritz Henderson added that Europe's business environment and GM's overall health have both improved since it put the division up for sale. The decision ends a year of uncertainty for the troubled Opel brand and its English sister, Vauxhall. Henderson said in a statement that GM will present its restructuring plan to the German government soon. [Read the full article] BETHESDA, Md., Nov. 3 /PRNewswire-FirstCall/ -- American Capital Ltd. (Nasdaq: ACAS - News) announced today that it has reached an agreement in principle with a steering committee of lenders to restructure its revolving line of credit facility. The Company will be presenting the terms of the proposed restructuring to all of the lenders in its revolving line of credit facility and to the holders of its privately placed term notes and publicly issued bonds for approval. The terms of the agreement in principle are nonbinding and subject to further negotiations, various conditions and final agreements. The Company hopes to complete the restructuring by year end. "We are pleased to reach this step and believe that the terms provide a basis for a complete restructuring of our $2.4 billion of unsecured debt," said Malon Wilkus, American Capital Chairman and Chief Executive Officer. [Read the full article] BETHESDA, Md., Nov. 3 /PRNewswire-FirstCall/ -- American Capital ("ACAS" or the "Company") (Nasdaq: ACA) announced net operating income ("NOI") for the quarter ended September 30, 2009 of $32 million, or $0.12 per diluted share. Net income (loss) less appreciation and depreciation ("Realized (Loss) Earnings") for the quarter was $(34) million, or $(0.13) per diluted share. For the quarter ended September 30, 2009, the Company reported net income of $77 million, or $0.30 per diluted share. [Read the full article] About Financial News USA Financial News USA is a Next Generation Financial Communications firm focused on the distribution of market moving news. Financial News USA has developed leading edge e-publishing tools including programming proprietary RSS feeds and enabling open source press release publishing across its network. Financial News USA has been aggressively expanding its news distribution network by targeting direct feeds to financial news and data providers such as FinancialContent, Yahoo (NASDAQ: YHOO), among others. Financial News USA offers a free news feed available online (www.financialnewsusa.com) to websites and financial services looking for content and for individual investors looking to stay informed on the financial markets. Financial News USA and its affiliates charge each client cash for news distribution and may take an equity position in the companies mentioned herein, please visit the disclaimer at www.financialnewsusa.com. 
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