Subaru Expansion At Gastonia Dealership
Tindal Subaru moves across street from East Franklin Boulevard to join Tindel Ford in Gastonia. By Oct 1, consolidation aims to boost Subaru inventory from 2200 to 2500 square feet and add staff as Edmunds predicts upturn in June sales. Natalie Tindal notes Subaru drivers’ strong attachment to their cars and loyalty amid tighter credit conditions.
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Bank of America to pay 8.5 billion in mortgage settlement
Bank of America and Countrywide will pay 8.5 billion to settle claims over poor quality mortgage backed securities sold to investors led by the Federal Reserve Bank of New York Pimco and BlackRock. The deal, still subject to court approval, covers 530 trusts with 424 billion original principal. CEO Moynihan says the settlement reduces future uncertainty and cleans up issues from the Countrywide purchase. Bank of America forecasts a rough quarter with losses after the settlement.
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Family Dollar 3Q profit up but trails forecasts
Family Dollar Stores Inc reports third quarter net income of 111.1 million or 91 cents per share, up 6 percent, with revenue of 2.15 billion. Analysts expected 95 cents on 2.17 billion, and same-store sales rose 4.7 percent as discounts boosted traffic, though margins eased.
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