Chrysler loses $370 million in 2nd quarter of 2011 due to repayment of loans eGMCarTech
MEMO :
“When we first outlined our plans to get our financials back in shape and renew almost our entire product lineup within a very short period of time, many analysts and members of the press reacted incredulously.
“The second quarter of 2011 is now in the books, and we continue to confound the experts who were prepared to write us off. This was a historic quarter for Chrysler, one in which we repaid every cent of our taxpayer loans plus interest six years before they were due. In addition, we continued to improve our operational and financial performance, excluding one-time costs of paying back our government debt. We are continuing to establish credibility by fulfilling our commitments.
“In the preliminary results released today, we showed a Modified Operating Profit of $507 million in the second quarter, compared with $183 million in the same quarter last year. This brought our Modified Operating Profit for the first half of this year to $984 million. We had a net loss of $370 million in Q2, which included a non-cash, non-recurring charge of $551 million from the repayment of our government loans. Our adjusted net income was $181 million in the second quarter, compared with a net loss of $172 million in Q2 of 2010.
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Consumer Complaint - Santander Consumer USA
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Can an automotive finance company verify employment without authorization from me?
A automotive finance company sent me 3 quotes for refinancing my vehicle. I have since chosen to stick with my current lender. Today, the company called my office to verify employment. In the loan documents they sent me, there was an authorization form to collect this information from my employer. Obviously I didn't sign nor submit it. Is this legal to initiate a loan or proceed without authorization from me?
no - not normally
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