Valero completes purchase of six VeraSun plants
Valero Energy Corp closed on the sale of six VeraSun biofuel facilities for 477 million dollars, acquiring biorefineries in Aurora and Charles City Iowa Fort Dodge and Hartley Iowa Albert City Iowa and a Welcome Minnesota plant later. The deal groups assets under Valero Renewable Fuels at San Antonio headquarters.
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Hartley
Iowa
Bill Day
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Minn
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San Antonio
South Dakota
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Investors aim to buy GM Saturn brand in restructuring push
An Oklahoma City private equity firm with Saturn dealers forms a group to bid for the failing Saturn unit from General Motors as GM reviews multiple offers. GM says it is evaluating proposals while restructuring requires shedding brands to secure government loans. Carl Galeana notes the brand’s perceived value and long term viability.
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Detroit
Oklahoma City
General Motors Corp
Black Oak Partners LLC
Mike Morrissey
Morrissey
Jennifer Threet
Black Oak Group
Carl F. Galeana
Credit card defaults rise at Capital One amid rising unemployment
Capital One reports March defaults climb, with U S card net charge offs up 1.27 points to 9.33 percent as job losses widen. Analysts warn the economy remains in a downturn with unemployment near 25 year highs and broader lenders seeing higher delinquencies. American Express shows a smaller rise to 8.80 percent.
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Foreclosure notices rise as lenders restart actions
Foreclosure threats increased 24 percent in the first quarter as major lenders resume actions after a pause. RealtyTrac reports about 804,000 households received notices January through March, with over 340,000 in March alone, amid pressure on President Obama's plan to aid up to 9 million borrowers through refinanced or modified loans.
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Washington
Barack Obama
RealtyTrac Inc
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