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To: reaper who wrote (197621)	10/15/2002 3:33:04 PM
From: Knighty Tin	Read Replies (2) \| Respond to of 436258

reap, Fitch doesn't get it. Sure, the auto pensions are underfunded, but they make it up with the high rates they charge on auto loans. Oops! I think I've figure out who is loaning money to consumers at 0%. Thanks, UAW! <g>

To: reaper who wrote (197621)	10/15/2002 5:02:10 PM
From: yard_man	Respond to of 436258

wize up -- they're simply not getting what they were promised <ng> retirees will understand, eventually

To: reaper who wrote (197621)	10/15/2002 5:17:20 PM
From: patron_anejo_por_favor	Read Replies (3) \| Respond to of 436258

See the COF report? Looks like they're gonna try to spin their soaring delinquencies as a problem caused by the new recovery reclassification mandated by the Feds! What BS! biz.yahoo.com The managed net charge-off rate decreased to 4.96 percent for the third quarter of 2002 compared with 4.98 percent for the second quarter of 2002. Fifty-seven basis points of the third quarter charge-off rate and 62 basis points of the second quarter charge-off rate was due to the change in financial statement presentation of recoveries. The managed delinquency rate (30+ days) increased to 5.36 percent as of September 30, 2002, compared with 4.54 percent as of June 30, 2002 and 5.20 percent at September 30, 2001. Charge-offs are expected to rise in the fourth quarter of this year and the early part of next year due to the seasoning of subprime assets added in the fourth quarter of 2001 and early 2002, as well as the slowing of loan growth. The company expects that its managed charge-off rate will rise to the low-6 percent range in the fourth quarter (This is consistent with previous guidance that the fourth quarter charge-offs would be in the mid-5 percent range, prior to recoveries reclassification). The company expects charge-offs to rise to the high-6 percent range in the first half of 2003 and then decline somewhat in the second half of 2003.