BRICK, N.J. (CBSNewYork) — New JerseyGov. Chris Christie spoke Friday afternoon and said the state was “inching closer to normalcy” following the devastation of Superstorm Sandy.
But things seemed far from normal after the governor issued a gas rationing system to ease the strain several hours later. Starting at noon Saturday, New Jersey will move to an odd-even gas rationing system in 12 counties as part of a “limited state of energy emergency.”
GM Financial auto loans to customers with FICO scores below 660 rose from 87% of total loans in Q4 2010 to 93% in Q1 2012.
The worse the FICO score, the bigger the increase. From Q4 2010 to Q1 2012, GM Financial loans to customers with the worst FICO scores — below 540 — shot up 79% to more than $2.3 billion. The second worst category, 540-599, rose 28% from about [...]
President Obama has touted General Motors (GM) as a successful example of his administration’s policies. Yet GM’s recovery is built, at least in part, on the increasing use of subprime loans.
The Obama administration in 2009 bailed out GM to the tune of $50 billion as it went into a managed bankruptcy.
Near the end of 2010, GM acquired a new captive lending arm, subprime specialist AmeriCredit. Renamed GM Financial, it has played a significant [...]
Thursday is jobs day in the U.S. But a key report from the Philadelphia Fed, as well as preliminary June PMI readings and existing home sales, will also move shares.
Here’s what you need to know.
New Zealand starts things off at 6:45 p.m. on Wednesday evening with a reading of first quarter GDP. Economists forecast the economy expanded by 0.4 percent during the period.
Announcements go quiet until 2:00 a.m. on Thursday morning, [...]
Release date: March 14, 2012
This paper was prepared in response to recent requests that the U.S. Energy Information Administration (EIA) provide updated summary information regarding fossil fuel production on Federal and Indian lands1 in the United States. It provides EIA’s current best estimates of fossil fuels sales from production on Federal and Indian lands for fiscal year 2(FY) 2003 through FY 2011.
Although EIA has regularly published summary information on this topic in [...]
Walmart, the biggest US retailer by revenues, warned on Tuesday that persistent weakness in the US economy was putting pressure on its low income consumers who are increasingly worried about unemployment and becoming more reliant on government assistance.
The struggling US economy is continuing to take its toll on Walmart’s domestic sales as it reported its ninth consecutive quarter of falling sales at US stores open at [...]