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Obama calls for offshore drilling in Southeast

WASHINGTON — The Obama administration on Tuesday outlined a politically fraught plan for allowing oil and gas drilling offshore along parts of the Atlantic coast while imposing new restrictions on environmentally fragile waters off northern Alaska.

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Alliance's Hillwood Commons lands first tenant

A large title insurance, property valuation and settlement services company is the first tenant at Hillwood Commons I, an office complex at Alliance Town Center.

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Museum District: Area’s evolution creating more interaction, public spaces

Fifteen years ago if someone had shot a cannon from Fort Worth’s world-renowned museum district, nobody would have noticed, joked Lori Eklund, senior deputy director of the Amon Carter Museum of American Art. But that has changed.

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Energy Transfer Partners, Regency Energy announce $18B merger

Energy Transfer Partners LP of Dallas and Regency Energy Partners LP have entered into a definitive merger agreement.

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Fort Worth's mayor looking for new chief of staff

Jason Lamers is leaving the city after 14 years to join Burlington Northern Santa Fe.

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Fort Worth's General Motors Financial reports 2Q results

Fort Worth-based General Motors Financial Co. Inc., the captive finance company for and a wholly-owned subsidiary of General Motors Co., reported earnings July 24 of $175 million for the quarter ended June 30, 2014, compared with $178 million for the year-ago quarter.
Earnings for the six months ended June 30, 2014, however, increased, from $284 million a year ago to $320 million. Earnings include $16 million and $22 million in pre-tax acquisition and integration expenses for the quarter and six month periods ended June 30, 2013, respectively.
Consumer loan originations were up slightly at June 30, to $3.6 billion from $3.4 billion for the quarter ended March 31, 2014, and $2.5 billion for the quarter ended June 30, 2013. Consumer loan originations for the six months as of June 30 were $7 billion, compared with $3.8 billion for the six months ended June 30, 2013. The outstanding balance of consumer finance receivables totaled $25.1 billion at June 30, 2014.


Operating lease originations of General Motors Co. vehicles jumped to $1.5 billion for the quarter ended June 30, compared with $773 million for the quarter ended March 31, 2014, and $834 million for the quarter ended June 30, 2013. Operating lease originations for the six months ended June 30, 2014, were $2.3 billion, compared with $1.5 billion for the six months ended June 30, 2013. Leased vehicles, net, totaled $4.7 billion at June 30, 2014.
The outstanding balance of commercial finance receivables remained the same at June 30, a total of $7.1 billion, as on March 31, compared with $6.7 billion at Dec. 31, 2013.
The company had total available liquidity of $4.8 billion at June 30, consisting of $1.4 billion of unrestricted cash, $1.8 billion of borrowing capacity on unpledged eligible assets, $990 million of borrowing capacity on unsecured lines of credit and $600 million of borrowing capacity on a line of credit from GM.
GM Financial acquired Ally Financial’s auto finance and financial services operations in Germany, the United Kingdom, Italy, Sweden, Switzerland, Austria, Belgium, the Netherlands, Greece, Spain, Chile, Colombia and Mexico on April 1, 2013, and acquired Ally Financial’s auto finance and financial services operations in France and Portugal on June 1, 2013. The company also acquired Ally Financial’s auto finance and financial services operations in Brazil on October 1, 2013. The results of operations of the acquired entities are included since their respective acquisition dates.

Betty Dillard
bdillard@bizpress.net


 

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