Join The Discussion

 

26-story mixed-use tower planned at Taylor & Fifth in downtown Fort Worth

Jetta Operating Co., a 24-year-old privately held oil and gas company in Fort Worth, and a related entity plan a 26-story mixed-use tower downtown at Taylor and Fifth streets on a site once owned by the Star-Telegram.

read more >

UPDATE: Six candidates file for two Water Board seats

Six candidates have filed for the two open seats on the Tarrant Regional Water Board, setting up a battle that could potentially shift the balance of power on the board and the priorities of one of the largest water districts in Texas.

read more >

Fort Worth breaks ground on $8.6 million South Main renovation

Fort Worth Near Southsiders and city officials broke ground Monday on the 18-month rebuild of South Main Street between Vickery Boulevard and West Magnolia Avenue.

read more >

Fort Worth Chamber names Small Business of the Year winners

A trampoline recreation business; an oilfield services company; a longtime aviation maintenance firm; a maker of electrical wiring harnesses. Those were the wide variety of businesses that received the 2015 Small Business of the Year Award from the Fort Worth Chamber of Commerce.

read more >

Body-camera maker has financial ties to former Fort Worth police chief, others

IOWA CITY, Iowa (AP) — Taser International, the stun-gun maker emerging as a leading supplier of body cameras for police, has cultivated financial ties to police chiefs whose departments have bought the recording devices, raising a host of conflict-of-interest questions.

read more >

 

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


 

< back

Email   email
hide
Catch
How 'bout them Cowboys?