ADESA and its sister company Insurance Auto Auctions (IAA) are Franchise Dealers’ source to maximize the
value of Cash for Clunkers vehicles.
Using IAA to move these vehicles is quick and easy.
IAA expects to be
a qualified service provider once the program rules are finalized providing dealers the ability to turn these
clunkers into cash – fast.
IAA makes managing Cash for Clunkers easy by:
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SEC Finalizes Auction Rate Securities Settlements With Citigroup and UBS Providing Nearly $30 Billion in Liquidity to Investors
Bank of America Agrees in Principle to ARS Settlement
ARS Settlement in...
This is a mere summary. Go to http://www.backgroundnow.com/blog for the real deal.
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Dec. 11, 2008 Press Release from the U.S. Securities & Exchange Commission
Washington, D.C., Dec. 11, 2008 — The Securities and Exchange Commission today finalized settlements with Citigroup Global Markets, Inc. (Citi) and UBS Securities LLC and UBS Financial Services, Inc. (UBS) that will provide nearly $30 billion to tens of thousands of customers who invested in auction rate securities before the market for those securities froze in February.
The settlements resolve the SEC's charges... Read Full Story
The Securities and Exchange Commission today finalized settlements with Citigroup Global Markets, Inc. (Citi) and UBS Securities LLC and UBS Financial Services, Inc. (UBS), that will provide nearly...
This is a mere summary. Go to http://www.backgroundnow.com/blog for the real deal.
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Another bank, Wachovia Corp., will buy back nearly $9 billion in auction-rate debt to settle complaints that it misled investors. In the settlement, Wachovia, the fourth-largest U.S. bank, agreed to repurchase auction-rate securities totaling $8.8 billion, including $5.7 billion in securities held by over 40,000 individual investors, charities and small businesses. The $330 billion auction-rate market normally allows issuers to borrow money for the long term at low, short-term rates. But... Read Full Story
It has been reported that Citigroup Inc. has been negotiating with state and federal regulators in an effort to resolve allegations of wrongdoing in the auction-rate-securities market. This could result in Citigroup buying back several billion dollars of the illiquid securities from investors and paying a sizable fine. In early August, New York Attorney General Andrew Cuomo threatened to sue Citigroup for alleged fraud in the marketing and sales of auction-rate securities. The Attorney... Read Full Story
Wall Street is a product machine. They are always devising new “packages” to sell their customers. A basic word of advice I can never share enough with new and seasoned investors alike is: “Know what you are buying.”
This hit me again last week.
Major brokerage firms settled class action suits with clients who bought a “risk-free” product called “auction rate securities.” Until February, auction rate securities had been a place investors could pocket a slightly higher yield without, they... Read Full Story
A look at the various ways companies are dealing with the financial joke that is auction-rate securities. Tim Reason
- CFO.com | Europe September 12, 2008
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Could there possibly be a stranger financial reporting conundrum than auction-rate securities?
A year ago, they were simple: Most companies recorded auction-rate securities as cash equivalents on their balance sheets. End of story.
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BofA Says... Read Full Story
B. of A. to settle auction-rate securities probes
By Alistair Barr, MarketWatch
Last Update: 9/5/2008 12:59:00 PM
SAN FRANCISCO (MarketWatch) — Bank of America Corp. said Friday that it is close
to settling probes into its actions in the defunct auction-rate securities
market.
The bank has been working for nearly a month with the New York attorney general’s
office and the Massachusetts [...] Read Full Story
The SEC alleges that Julian Tzolov and Eric Butler misled customers into believing that auction rate securities being purchased in their accounts were backed by federally guaranteed student loans and...
This is a mere summary. Go to http://www.backgroundnow.com/blog for the real deal.
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