Braving the Storm
Mr. Joe Grimaldi, the chief executive officer of the USA’s second largest factoring company, GMAC Commercial Credit, has been dismissed from his position.
Asta Funding Inc, a leading consumer receivables asset management and liquidation company which also factors commercial receivables, today announced that it projects a 40% increase in earnings growth for 2001.
KBK Capital Corporation, which provides financial services to middle-market businesses, today reported its operating results for the third quarter and first nine months of 2001.
Asta Funding, Inc, the New Jersey-based financial services company, announced today that its board of directors has authorized the repurchase of up to 100,000 shares of the company's outstanding common stock.
O’Rane Cornish, former controller of 6C/Dahcor Industries Inc, a Tennessee corporation, was sentenced for swindling two companies out of nearly $500,000. He was indicted in March 2000 on 10 counts.
Donald Wiener, who runs the dress chain Dresses For Less, is suing CIT Group and other accomplices, accusing them of running a factors’ monopoly called the Uptown Credit Group.
Warren Buffet’s Berkshire Hathaway Inc dropped its offer for $500m in notes from Finova Group Inc.
Tyco International Ltd. announced that its financial services group, CIT, which includes CIT Commercial Services, the largest factoring company in the US, has been renamed Tyco Capital.