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Strategies & Market Trends : Mr. Pink's Picks: selected event-driven value investments -- Ignore unavailable to you. Want to Upgrade?

To: Mr. Pink who wrote (17065)	1/16/2003 10:35:13 AM
From: RockyBalboa	Read Replies (3) \| Respond to of 18998

ACF..... EGGSQCELLENT! pretty nice call, Mr. Pink. AmeriCredit Posts Loss, Sees Bad Loans Thursday January 16, 7:54 am ET FORT WORTH, Texas (Reuters) - AmeriCredit Corp. (NYSE:ACF - News), which makes car loans to people with patchy credit, swung to a quarterly loss on Thursday, as it took a one-time charge, and forecast more losses on bad loans due to the deterioration in the economy. AmeriCredit Executive Chairman Purchases 500,000 Shares Monday October 28, 8:56 am ET FORT WORTH, Texas--(BUSINESS WIRE)--Oct. 28, 2002--AmeriCredit Corp. (NYSE:ACF - News) announced today that Executive Chairman Clifton H. Morris Jr. purchased 500,000 shares of the company's common stock on the open market Friday, Oct. 25, 2002. Mr. Morris now has beneficial ownership of 1,203,135 shares.

To: Mr. Pink who wrote (17065)	2/12/2003 11:55:09 PM
From: StockDung	Read Replies (1) \| Respond to of 18998

AmeriCredit restates loss, plans job cuts FORT WORTH, Texas, Feb 12 (Reuters) - AmeriCredit Corp. <ACF.N>, an auto loan provider, on Wednesday said it revised its net loss for its December quarter and set forth a restructuring plan that will cut 20 percent of its work force. AmeriCredit, which targets people with poor credit, said the net loss for its fiscal second quarter ended Dec. 31 was now $44.7 million, or 29 cents a share. That compared with a net loss of $27.6 million, or 18 cents a share, reported on Jan. 16. The revision reflects a non-cash charge of $27.8 million related to expected delays of FSA-insured trust distributions. AmeriCredit, which has watched its stock plunge over the past year, said it would cut 20 percent of employees by the end of February, about 1,000 jobs, resulting in a $40 to $50 million charge. AmeriCredit said it will cut its loan origination volume to $750 million per quarter by June. The company said it still expects annualized credit losses of 7 percent in the first half of calendar year 2003. It also said it expected to report net income between $60 to $70 million, or 43 cents to 50 cents a share, for the 12 months ending June 30, and net income of $100 to $125 million, or 63 to 79 cents a share, for the 12 months ended Dec. 31. 02/12/03 16:45 ET