From the filing:
"As of February 27, 2008, the Reporting Persons may be deemed to beneficially own collectively an aggregate of 30,361,440 shares of Common Stock, representing approximately 26.5% of the shares of Common Stock presently outstanding. All percentages in this Item 5 are based on 114,599,921 shares of Common Stock outstanding as of January 31, 2008, as set forth in the Company's Report on Form 10-Q for the quarterly period ended December 31, 2007."
Disclosure ("none" means no position):None
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4 comments:
How do you figure this buy?
What do they see here?
lamar,
ACF deals in auto loans. people are far more willing to walk away from a home now than a car. they can rent and apartment, they need their car to get to work..
I'm not so sure that people are more willing to walk away from a home loan than a car loan.
Entering the repossession lane
Default rate soars on auto loans in pattern likened to mortgage crisis
http://tinyurl.com/39k2lw
Paul T.
paul,
the article says 11% of subprime auto loans are in some form of defaults while 20% of subprime mortgages are...
translation: a greater percentage of folks are going to lose homes than cars...
i have not checked it out but i believe ACF has very little exposure to this market....
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