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VPG Autos
VPG Autos’ MV-1 van.
A small automaker that received a $50 million loan from the Department of Energy (DOE) has laid off nearly all of its staff and ceased operations,
USA Today reports
.
The Vehicle Production Group, aka VPG Autos, produced the MV-1, a six passenger wheelchair-accessible van that can run on gasoline or environmentally-friendly compressed natural gas.
It stopped operations after the DOE froze its access to federal money, when its finances fell below the threshold required by the loan, according to Bloomberg.
The DOE “wanted us to get the remaining capital raised and we couldn’t get it done,” former CEO John Walsh told USA Today.
The problem, he said, was not lack of orders for the MV-1, but cash flow.
The small automaker has not filed for bankruptcy.
The loan was approved in March 2011, under the DOE’s Advanced Technology Vehicles Manufacturing program, created by the 2007 Energy Independence and Security Act to allocate $25 billion to fund highly fuel-efficient vehicles.
Other loan recipients include relatively successful Tesla Motors and defunct Fisker Automotive, which is in deep financial distress.
According to the DOE, the $50 million for VPG should have created 900 permanent jobs and taken 12,200 tons of carbon dioxide out of the atmosphere annually. The automaker was supposed to build as many as 22,000 vehicles every year (counting compressed natural gas and gasoline models).
Just six months ago, VPG seemed to be in solid shape. Between September 2011 and October 2012, it produced over 2,500 MV-1s, more vehicles than Tesla made in the same period, according to John Voelcker at Green Car Reports.
A Department of Energy spokesperson did not respond to a request for comment, and calling the phone number listed for VPG Autos led to an “after hours voicemail system.”
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NEW YORK–(BUSINESS WIRE)–
LMP Corporate Loan Fund Inc. (TLI) announces its portfolio
composition as of March 31, 2013.
Investment Objective: The Fund’s investment objective is to
maximize current income consistent with prudent efforts to preserve
capital.
Portfolio Composition*:
Asset Allocation
Bank Loans
88.9%
High Yield Corporate Bonds
3.9%
Cash & Cash Equivalents
7.2%
Credit Quality Allocation**
BB
26.7%
B
52.8%
CCC
6.3%
Not Rated
14.2%
Top Ten Bank Loan Industries
Consumer Non Cyclical
27.0%
Consumer Cyclical
16.2%
Communications
12.3%
Technology
10.5%
Capital Goods
5.3%
Basic Industry
5.0%
Electric
3.9%
Industrial Other
3.9%
Financial Other
3.7%
Energy
2.1%
Transportation
1.3%
Natural Gas
0.9%
Insurance
0.6%
Average to next reset
48 days
Portfolio Statistics:
Inception Date
November 20, 1998
Inception Price
$15.00
Total Assets***
$216,356,343
Net Assets
$129,739,647
Loans****
14.10%
Preferred Shares****
16.18%
Reverse Repos****
0.00%
Market Price
$13.94
NAV
$13.06
(Daily NAV is available on market quotation systems using the symbol
XTLIX.)
Distribution Rate
$0.0725 per share
Frequency
Monthly (Declared monthly, paid monthly)
*
Portfolio holdings and weightings are historical and are presented
here for
informational purposes only. They are subject to
change at any time.
**
Credit quality is a measure of a bond issuer’s ability to repay
interest and
principal in a timely manner. The credit ratings
shown are based on each
portfolio security’s rating as
provided by Standard and Poor’s, Moody’s
Investors Service
and/or Fitch Ratings, Ltd. and typically range from AAA
(highest)
to D (lowest), or an equivalent and/or similar rating. For this
purpose,
when two or more of the agencies have assigned
differing ratings to a security,
the lowest rating is used.
Securities that are unrated by all three agencies are
reflected
as such. The credit quality of the investments in the Fund’s
portfolio
does not apply to the stability or safety of the
Fund. These ratings are updated
monthly and may change over
time. Please note, the Fund itself has not
been rated by
an independent rating agency.
***
The difference between total assets and net assets, if any, is due
primarily to
the Fund’s use of borrowings; net assets do not
include borrowings. The Fund
may employ leverage in the form
of loans, preferred stock, reverse repurchase
agreements
and/or other instruments. When the Fund engages in transactions
that
have a leveraging effect on the Fund’s portfolio, the value of the
Fund will
be more volatile and all other risks will tend to
be compounded.
****
Percentages based on total assets.
LMP Corporate Loan Fund Inc., a non-diversified investment management
company, is managed by Legg Mason Partners Fund Advisor, LLC, a
wholly-owned subsidiary of Legg Mason, Inc.
An investment in the Fund involves risk, including loss of principal.
Investment return and the value of shares will fluctuate. Fixed income
securities are subject to credit risk, inflation risk, call risk, and
interest rate risks.
Data and commentary provided in this press release are for informational
purposes only. Legg Mason and its affiliates do not engage in selling
shares of the Fund.
Contact the Fund at 1-888-777-0102 for additional information, or
consult the Fund’s web site at www.leggmason.com/cef.
FN1112224
Contact:
LMP Corporate Loan Fund Inc.
1-888-777-0102
NEW YORK–(BUSINESS WIRE)–
LMP Corporate Loan Fund Inc. (TLI) announces its portfolio
composition as of December 31, 2012.
Investment Objective: The Fund’s investment objective is to
maximize current income consistent with prudent efforts to preserve
capital.
Portfolio Composition*:
Asset Allocation
Bank Loans
91.3%
High Yield Corporate Bonds
4.5%
Cash & Cash Equivalents
4.2%
Credit Quality Allocation**
BBB
0.6%
BB
32.9%
B
49.5%
CCC
6.8%
CC
0.4%
Not Rated
9.8%
Top Ten Bank Loan Industries
Consumer Non Cyclical
26.6%
Consumer Cyclical
16.7%
Technology
10.9%
Communications
10.4%
Capital Goods
7.0%
Basic Industry
5.8%
Financial Companies
3.7%
Transportation
3.1%
Electric
1.9%
Energy
1.6%
Portfolio Statistics:
Inception Date
November 20, 1998
Inception Price
$15.00
Total Assets***
$226,728,860
Net Assets
$128,023,432
Loans****
13.45%
Preferred Shares****
15.44%
Reverse Repos****
0.00%
Market Price
$12.92
NAV
$12.90
(Daily NAV is available on market quotation systems using the symbol
XTLIX.)
Distribution Rate
$0.0725 per share
Frequency
Monthly (Declared monthly, paid monthly)
*
Portfolio holdings and weightings are historical and are presented
here for
informational purposes only. They are subject to
change at any time.
**
Credit quality is a measure of a bond issuer’s ability to repay
interest and
principal in a timely manner. The credit ratings
shown are based on each
portfolio security’s rating as
provided by Standard and Poor’s, Moody’s
Investors Service
and/or Fitch Ratings, Ltd. and typically range from AAA
(highest)
to D (lowest). For this purpose, if two or more of the agencies
have
assigned differing ratings to a security, the highest
rating is used. Securities
that are unrated by all three
agencies are reflected as such. The credit quality
of the
investments in the Fund’s portfolio does not apply to the
stability or safety
of the Fund. These ratings are updated
monthly and may change over time.
Please note, the Fund
itself has not been rated by an independent rating
agency.
***
The difference between total assets and net assets, if any, is due
primarily to
the Fund’s use of borrowings; net assets do not
include borrowings. The Fund
may employ leverage in the form
of loans, preferred stock, reverse repurchase
agreements
and/or other instruments. When the Fund engages in transactions
that
have a leveraging effect on the Fund’s portfolio, the value of the
Fund will
be more volatile and all other risks will tend to
be compounded.
****
Percentages based on total assets.
LMP Corporate Loan Fund Inc., a non-diversified investment management
company, is managed by Legg Mason Partners Fund Advisor, LLC, a
wholly-owned subsidiary of Legg Mason, Inc.
An investment in the Fund involves risk, including loss of principal.
Investment return and the value of shares will fluctuate. Fixed income
securities are subject to credit risk, inflation risk, call risk, and
interest rate risks.
Data and commentary provided in this press release are for informational
purposes only. Legg Mason and its affiliates do not engage in selling
shares of the Fund.
Contact the Fund at 1-888-777-0102 for additional information, or
consult the Fund’s web site at www.leggmason.com/cef.
FN1112224
Contact:
LMP Corporate Loan Fund Inc.
1-888-777-0102
www.leggmason.com/cef
COLORADO SPRINGS, Colo., Jan. 29, 2013 /PRNewswire/ — ;LoansForPoorCredit.net is a McAfee Secure™ certified independent loan matching service that has announced the launch of its new “Find and Search” tool. This piece of technology opens up into a free introduction service that pairs consumers with low credit scores to reputable, reliable and fast paying loan companies.
The service is composed of two parts – a live application form which asks simple questions in order to help “find” consumers loans according to their need plus a database/matching service which can “search” the LoansForPoorCredit network in order to find companies that can potentially approve the loan required.
The innovative online application form, crafted especially by LoansForPoorCredit, is linked to an ever-increasing network of cash loans companies, the majority of which are bad credit loans specialists. The site is able to offer an unparalleled array of lenders within its circle due to having dedicated a large portion of its business model to cultivating good professional relationships with lenders. This enables LoansForPoorCredit to carefully include within its database those lenders that meet its high standards for propriety, competitively priced products, fast payouts and good reputation.
The service is characterized by speed and ease throughout – not least by the 24 hour maximum time for pay out of loan monies from lenders. Payment is made directly into checking accounts and can, in some cases, clear within one hour of approval and acceptance of the loan.
LoansForPoorCredit.net made the announcement in the following statement.
“As a way of showcasing the additional number of lenders which now form a part of our network’s database, LoansForPoorCredit is pleased to announce and launch our new “Find and Search” tool. This represents a simple accessible and private way to search for unsecured loans from home, the office or even on the go via a laptop or mobile device. Our application form takes a couple of minutes to complete, so there is no worry about needing to spend hours poring over lots of tricky and personal questions. We encourage consumers to use the tool to help find fast loans from known-brand lenders.”
Consumers will be encouraged by the confidentiality of the site, which does not disclose any loan application information to third parties once it has been sent to and reviewed by its network of lenders. In addition, the high level of protection offered to the site through the McAfee security checking makes LoansForPoorCredit a safe and secure site.
LoansForPoorCredit is not a lender. It is an impartial aggregation service that is free to use. It can help navigate consumers through the world of online loans for individuals with poor credit and helps provide shortlists, matches and filter fast applications through to a number of lenders that may be able to approve a loan.
To apply go to: http://www.loansforpoorcredit.net/bad-credit-loans
Contact:
Sam Malka :
305-424-8313
info@loansforpoorcredit.net
This press release was issued through eReleases® Press Release Distribution. For more information, visit http://www.ereleases.com.
;
;
SOURCE LoansForPoorCredit.net
RELATED LINKS
http://www.loansforpoorcredit.net
President Barack Obama promised to focus on immigration reform, energy policies and improving economic growth in his second term. The president is still trying to avoid the spending cuts and tax increases connected with the fiscal cliff.
President Obama won his re-election bid last November after a campaign where he painted himself as an advocate for the middle class. He promised in the interview with NBC’s Meet the Press that he will try to pass a gun control in the first year of his second term.
Immigration reform has been a sensitive subject for the president. He failed to fulfill his pledge to revamp the system during his first term in office. Latino voters were a vital part of the coalition that helped him win his re-election. This could soften the political opposition from Republicans who want to get more votes from that particular demographic group.
Supporters of immigration reform believe that the 11 million undocumented foreigners in the United States should be given a way towards citizenship. But those who oppose the motion believe that it would reward people who broke the law by coming to the US illegally.
Republicans want stronger measures to keep illegal immigrants from coming into the United States from Mexico. Supporters from both sides of the table want more effective way of verifying legal workers in an economy where businesses want to hire non-US workers from low paid farm workers to professionals in the technology sector.
Negotiations are still ongoing with regards to the fiscal cliff. President Obama pledged that he will take steps to improve the economy’s recovery rate. Most observers believe that the high level of unemployment would prevent the president from winning a second term. The jobless rate peaked at 10 percent in 2009 right after the recession but it dropped at a steady pace to 7.7 percent in November. [...]
“The expansion of MX Financial Services to the QuadW International portfolio will position our company as a major player in the sub-prime marketplace.”
Wood Dale, Illinois (PRWEB) October 20, 2012
QuadW International Inc. has expanded the unique client advocacy program of their Max Cash Title Loans venture with the purchase of the newly acquired MX Financial Services. MX Financial Services offers a service similar to Max Cash Title Loans – to protect both customer and lender in title loan services — which is changing direction to cover all financial lending needs, from auto title loans to student and payday loans.
While Max Cash Title Loans will now be folded into the parent brand of MX Financial Services, QuadW International has doubled down on its commitment to help consumers understand the intricate and often misleading information that loan products can entail, as well as connecting them to the best lenders and plans to suit their needs, person-to-person, seven days a week.
“For the sake of understanding what loan processing is: I want you to think about it as a fence,” said QuadW International President Fred Winchar. “On one side of the fence is the lender and on the other side of the fence is the customer. We’re on the side of the fence with the customer, meaning, we take complex information, and we also take confusing information, and we take information that is sometimes omitted from the customer. We make sure the customer is fully informed and knows about what’s going on with their loan process, so they know exactly what they’re getting. It’s the customer’s decision at that point whether or not to continue.”
The Max Cash brand refers title loan consumers to competing lenders in many U.S. states, the U.K. and Canada free of charge. Now with the launch of MX Financial Services through the Max Cash brand, a more intensive service will be provided. This program will pair each paying “VIP” customer with a client advocate, who will work around the customer’s schedule over the course of 72 hours to fund their immediate financial needs.
The goal of the client advocate is not just to link lending companies with consumers, however, but to guide the customer through what is sure to be an emotional and stressful time. Whether one is dealing with a sudden financial emergency, going through the death (and costly funeral arrangements) of a loved one, or simply getting a loan for basic expenses during a tough time, going through a loan process during an emergency can be quite a burden.
Applying for a loan during these times, says Winchar, can add further risk to an already risky situation, as the emergency of the need can cause a person to jump into a loan they may not fully understand. That is where the client advocate of MX Financial comes in: a clear head when the customer’s head may be anything but.
“We have a rushed timeline, but our process is very non-rushed in that three-day period,” said Winchar. “We know what we need to do, but they don’t need to know the pressure. We handle the pressure and we’ll help them. The reason why you hire an attorney is not to handle your legal matter — it’s to give you peace of mind.”
The MX Financial Services professional service also stands as one of the few human voices in a financial world that is becoming increasingly mechanized. For most people, this can mean 20 different emails and 20 different phone calls to 20 different lenders, a whole lot of waiting for return calls, and no one who can understand their problems or, of course, their solutions. With QuadW International and MX Financial Services, it only takes one phone call or email to get the ball rolling quickly and effectively, and a client will be connected to a human being who knows the market, and just as importantly knows human beings. The key to this service, then, rests in real relationships.
“The loan industry is turning into an automated, robot environment where customers are now simply rated on certain robotic credentials and a numerical value,” noted Winchar. “Basically, you’re given a number and according to the lender, this is your value. It’s not a true reflection of your actual report. It tries to be, but it’s not. The financing industry is turning into this process, this numerical value — it’s removing, as much as possible, the human element out of it. You’ve seen it in the finance industry. It’s horrible: You can call and you can’t even get somebody on the phone, and when you do, they don’t have any real information — there’s no personal connection anymore to what’s going on … You could be a good credit risk if you talk to a human; you could be a bad credit risk if I look at your numbers. We look at the human side, and we use the numbers to help us better understand what we need to overcome, not how we can limit you from getting what you need.”
MX Financial Services and its brand Max Cash Title Loans uses proprietary software “Quantum Loan Technology”, developed by the engineers at QuadW International, Inc. to untangle the often confusing loan application and loan processing procedure. By using this Quantum Loan Technology tool, the Client Advocate at MX Financial Services has a unique edge: they can focus more on the person who is applying rather than the process of applying for the loan.
This is the real reason why more and more people trust their loans with MX Financial Services, they trust that the client advocates at MX Financial will lead them from application through funding thanks to high quality online processing and friendly, engaging customer service. QuadW International and Max Cash Title Loans have always stood — and with MX Financial Services, will continue to stand to take a complex financial world and make it human.
QuadW International started in 2009 by Fred Winchar and James Sears as a title loan lead provider. In 2010 QuadW started providing SEO services to limited clientele with the executive staff addition of John Nolan. In 2011 the company grew to offer reputation management services and multiple loan services and developed robust loan and lead processing software called Quantum Loan Technology to the public and in 2012, acquired MX Financial Services to offer loan processing. QuadW International Inc. is a privately held corporation.
 Click Here To Get A Payday Loan www.paydayloanfinder.info Uses of payday loan Payday loans are offered to all people who are all having economical problems in their life. My pay day loan help in obstacles and it aid you to boost up your [...]
 Payday Loans App: In Android Jelly
September 26th, 2012 by alicia
Android technology is booming in today’s generation. As we are advancing in the new world, the technology is moving forward and creating new gadgets every day. Google has introduced a new operating system known as Android Jelly bean with the version 4.1 which is now carried through number of mobile handsets. It was launched on 27 June 2012.
The previous version of Google was Ice Cream Sandwich version 4.0. In this 4.1 version of jelly bean there are many highlighted features and it‘s a brand new version of Google Android. It gives you the information about time, weather, location, sports and stocks. It has different applications like personal, finance, gaming, stock market and so on. It is very convenient and user friendly. It has a very flat using interface and is more enhanced comparing to the other versions. Many languages are supported by this 4.1 V. accessibility with maps and other basics. Voice search recognition and a camera with great resolution is one among the new features.
It has USB port and android browser which acts as a substitute mobile version of Google chrome. To make the software compatible with the handsets, it has good internet source through which we can update the software’s and applications. The android has many applications to manage the different tasks. Financial apps plays a key role in individual’s life as everyone is in need of money and funds to develop up their business and manage personal needs. If you are out of budget then you can take Payday loan or any other loans suitable for your needs.
There are so many financial apps among which is Payday Loan application. This application tracks your expenses and plans your next pay cheque. It gives you the total details of your expenditure and savings with the percentages, insurance amounts and retirement plans. This is particularly for your savings and spending’s. It will focus on your gross pay, Taxes, Insurance cost and take home pay. It is always essential to search for lower interest rate in Payday Loans.
A Payday loan is used in different scenarios as in Emergency needs, astonishing bills, holiday trips and so on. As you observe people need instant money at times to meet their requirements and can’t wait until the next pay check arrives, hence this application plays a major role at that time as they can see to their monthly income and expenses, and according to that they can take a Short-term or a Payday loan. In this application the period of payday loan starts from 60 minute to one week. As your information and the data will be confidential it provides full time security and it has a fast cash service.
This application can help people in their needs and emergencies.
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Tags: Finance apps, Payday loan
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DALLAS, Sept. 25, 2012 /PRNewswire/ — Greyhound, the country’s leading provider of intercity bus transportation, today announced it has expanded its successful “book online, pay cash” service to now include ACE Cash Express stores. This service provides cash-paying customers with cash access to discounts usually reserved for web-only reservations, as well as the convenience of thousands of retail locations across the United States to complete their transaction. Customers now can book tickets online at www.greyhound.com and pay with cash at approximately 1,800 participating ACE Cash Express stores.
This partnership is fueled by PayNearMe, which provides the technology to facilitate cash payment options for Greyhound customers who may not have access to a credit or debit card. The program began in November 2011 with 7-Eleven, Inc. whereby customers can pay cash for Greyhound tickets at more than 6,400 participating 7-Eleven stores. The venture was so successful, Greyhound and PayNearMe sought to find new retail partners to expand the cash payment network.
“Greyhound is dedicated to making travel accessible and affordable for all Americans, including providing everyone access to deeper discounts or accommodating their preferred payment methods,” said Dave Leach, president and CEO, Greyhound. “This partnership with PayNearMe and ACE Cash Express allows us to invite more customers to experience the safe, affordable and convenient experience Greyhound offers.”
According to a July 2012 study conducted by market research firm Mintel, 26 percent of Americans do not have a credit card.[i] These consumers now have more options when purchasing Greyhound tickets, which previously required a trip to a Greyhound terminal or the purchase of a prepaid debit card.
Customers can book their tickets online at www.greyhound.com, choose their travel itinerary and select cash as their payment option. The selected travel itinerary is placed on a courtesy hold for 48 hours. The customer prints a confirmation slip and takes it to a participating ACE Cash Express store to pay for their ticket with cash.
About Greyhound
Greyhound is the largest North American provider of intercity bus transportation, serving more than 3,800 destinations across the continent. The company also provides Greyhound Package Express and charter services. For fare and schedule information and to buy tickets call 1-800-231-2222 or visit the website at www.greyhound.com. For the latest news and travel deals, follow GreyhoundBus on Twitter at http://twitter.com/GreyhoundBus and “Like” us on Facebook at http://www.facebook.com/GreyhoundBus.
About PayNearMe
PayNearMe is the cash transaction network that enables consumers to pay conveniently with cash for a wide variety of goods and services from leading companies in e-commerce, consumer finance, transportation and beyond. Consumers pay easily at a local store, starting at 6,400 7-Eleven stores across the United States. For more information, visit www.paynearme.com.
About ACE Cash Express
ACE Cash Express, Inc. is a leading retailer of financial services, including short-term consumer loans, check cashing, bill payment and prepaid debit card services. ACE is the largest owner and operator of check cashing stores in the United States and the second largest owner and operator of short-term consumer loan stores in the United States. ACE focuses on serving consumers, many of whom seek alternatives to traditional banking relationships in order to gain convenient and immediate access to financial services. For additional information about ACE Cash Express, visit www.acecashexpress.com.
Media Contacts:
Timothy Stokes
Greyhound
Phone: 513-362-4600
tim.stokes@firstgroup.com
Alexis Louie
Edelman for Greyhound
Phone: 415-486-3287
alexis.louie@edelman.com
[i]Oxygen.Mintel.com (2012, July) Credit and Debit Cards – US – July 2012. Retrieved from Mintel.com:
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Instant Payday Loans – Permanent Solution For Impermanent Monetary Needs by Stephen Pilgrim
About Author
Why book hotels online? by Shiprakaul
Instant payday loans offer money to a salaried class person at the earliest hour when he is in the time of need. One can solve various purposes with this money. Just apply with a simple online application and get the cash advance.
Author: Stephen Pilgrim Article Tools: If you are feeling worried that the last date of your pending household bills is coming nearer and nearer then just stop getting worried. Instant payday loans are the answers to all your questions. On applying for this fiscal aid, the borrower gets a permanent solution for impermanent monetary needs. One can use the borrowed cash advance till his next pay cheque arrives and meet various expenses that are necessary to be met.
£80 to £1500 is the range in which one can apply with comfortable settlement time duration of 1 to 30 days. Once the money comes to you,louboutin, you do anything with it. Pay your household and utility bills,ralph lauren pas cher, the monthly rental,Louboutin Pas Cher, the installment of the credit card,ralph lauren, your child?s school and tuition fees,Chaussures Louboutin, and so on. This is a short-term service with slightly higher rate of interest, therefore, the borrower?s settlement ability should be sound.
You can apply by filling an online application form with your genuine personal details from the comfort of your home or office. Wait for the process of verification to get over, after the submission. As and when the borrower gets an approval,louboutin pas cher, cash advance gets automatically into his bank account in as less as 24 hours.
The hassle of paperwork and documentation is very less. You would not be asked by the money lender to fill or fax credentials that are not required by him. In a similar manner, they do not require credit confirmation from you though following are the mandatory condition for you to meet in order to avail the benefits:
? One should be of or above 18 years of age
? One should have a permanent UK address
? One should have a fixed job with a salary of £1000
? One should have an active bank account that is at least 3 month old
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