Chastened AmeriCredit Has New Set of Goals

Rieker, Matthias
March 2004
American Banker;3/19/2004, Vol. 169 Issue 54, p1
Trade Publication
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.


Related Articles

  • Berce succeeds Morris as CEO of AmeriCredit. McClellan-Brandt, Sarah // Fort Worth Business Press;8/15/2005, Vol. 18 Issue 33, p20 

    Reports on the appointment of Daniel Berce as the successor of out-going chief executive officer Clifton Morris at AmeriCredit Corp. Professional background of both executives; Information on the executive team of the company; Financial performance of the company.

  • AmeriCredit, Staying With Subprime, Is Rewarded. Rieker, Matthias // American Banker;8/11/2004, Vol. 169 Issue 154, p1 

    Offers a look at the profit reported by automobile lender AmeriCredit Corporation in 2004. Comments made by Clifton Morris Junior, AmeriCredit's chairman and chief executive officer during a conference call with investors to discuss the earnings report; Raise of the company's earnings guidance...

  • AmeriCredit Sets Modest Growth Pace. Rieker, Matthias // American Banker;8/18/2005, Vol. 170 Issue 159, p1 

    Reports that more than two years after being crippled by a liquidity crisis, the subprime auto lender AmeriCredit Corp. is showing improved earnings and potential for growth as of August 2005. How the company is hiring in the U.S. and plans to return to Canada, a market it left in 2003; Efforts...

  • AmeriCredit Car-Loan Losses Ebb as it Eases Off Subprime.  // Ward's Dealer Business;Oct2007, Vol. 41 Issue 10, p43 

    The article reports on the financial performance of AmeriCredit Corp. in California. The subprime lender reported its 2007 net income of $360.2 million from $306.1 million in 2006, reflecting a $6 million gain from its investment in Dealer Track Holdings Inc. It boosted its new-loan originations...

  • Lenders Still Expecting a Corporate Uptick. Sundaramoorthy, Geeta // American Banker;4/5/2004, Vol. 169 Issue 65, p20 

    Corporate loan activity remains lackluster, but that has not dashed the hopes of lenders, who expect demand to increase in the next six months, a survey has found. According to the quarterly survey from Phoenix Management Services, a Philadelphia consulting company, 63% of those polled predicted...

  • AmeriCredit Delays 4Q, May Restate Prior Results. Rieker, Matthias // American Banker;8/8/2003, Vol. 168 Issue 152, p1 

    AmeriCredit Corp.'s earnings-report postponement on Wednesday caused some investors to show some resentment from the stock when the market reopened Thursday. The auditor, PricewaterhouseCoopers LLP, had raised doubts last week about the $7.5 billion-asset lender's method of accounting for...

  • Due credit. Carter, Tonie // Fort Worth Business Press;10/12/2001, Vol. 14 Issue 25, p3 

    Profiles Clifton Morris, Executive Chairman of AmeriCredit Corp. and 2001 inductee to the Texas Wesleyan University's Business Hall of Fame. Earnings of the company in 2001 under Morris's leadership; Achievements; Former positions held.

  • AmeriCredit eyes Arlington facility expansion. Lamers, Kelli // Fort Worth Business Press;10/20/2000, Vol. 13 Issue 26, p1 

    Reports on the plan of financial services company AmeriCredit Corp. to expand its facility in Arlington,Texas. Construction of a building adjacent to the firm's existing facility; Cost of construction; Recruitment of additional employees; Market capitalization as of September 30, 2000.

  • AmeriCredit reports $19.5M record quarter. Shepherd, Shawn // Business Press;04/16/99, Vol. 11 Issue 50, p1 

    Reports on AmeriCredit Corp.'s financial performance for the third quarter ended March 31, 1999. Rise in the company's earnings and rate of return; Expansion of the company's loan purchases; Attribution of the company's good performance to the healthy economy and increased automobile sales;...


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics