TITLE

Chastened AmeriCredit Has New Set of Goals

AUTHOR(S)
Rieker, Matthias
PUB. DATE
March 2004
SOURCE
American Banker;3/19/2004, Vol. 169 Issue 54, p1
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
This time last year AmeriCredit Corp. was in the middle of a liquidity crisis brought on by unanticipated economic factors and strategic bungles. But now Clifton Morris Jr., the subprime auto lender's chairman, is looking for ways to use the excess capital it is accumulating. In the 11 years since its founding, its managed loans have mushroomed from $25 million to $13 billion at the end of last year, and all the while AmeriCredit has stayed in its only business line--making loans for new and used cars through dealerships for customers with less than stellar credit histories.
ACCESSION #
12559849

 

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