Sonic Automotive News

Two General Motors dealerships in Central Florida have shut down, confirming reports of their demise that first surfaced in October.

Massey Cadillac in Sanford has shut down and Eyewitness News was there as cars were being taken off the lot.

Arnold Palmer Cadillac's southeast Charlotte dealership closed this week, the latest casualty of General Motors' financial troubles.

Dealerships." The automotive industry has been in a spin for awhile and is coming away from the "Cash for Clunkers" and is trying to get its balance.

Below is an auto news article from November 10, 2009 from Automotive.com and PRNewswire.

Prudential Financial Inc., an insurance and investment company, posted its second straight quarterly profit, buoyed by market gains and strong sales of its insurance products.

Cablevision Systems Corp. said Tuesday that its third-quarter profit more than tripled as the number of customers using its voice phone service surpassed 2 million.

Major U.S. auto dealerships see only a grudging recovery in demand in 2011, a cautious outlook at odds with the consensus view that the battered industry could see a double-digit percentage rebound.

Scott Smith, Sonic's President, stated, "This latest step in the restructuring of our balance sheet removes an extremely dilutive security from our capital structure.

Manitowoc Co. said Thursday it reduced its third-quarter loss as the crane maker cut costs, operated more efficiently and trimmed its working capital costs.

Snapshot Report ) has reported a profit of 21 cents per share for the third quarter of the year compared to 15 cents per share in the year-ago period.

Chemical maker Ashland Inc. on Wednesday reported a fiscal fourth-quarter profit, as the company cut costs to offset a sales decline.

Sonic Automotive, Inc. October 27, 2009 11:00 AM ET Executives B. Scott Smith - President and Chief Strategic Officer David P. Cosper - Vice Chairman and Chief Financial Officer Jeff Dyke - Executive Vice President - Operations Greg Young - Vice President of Finance Analysts Rick Nelson - Stephens Inc Ryan Brinkman - J.P. Morgan Jordan Hymowitz - ...

4 U.S. auto dealership, posted a quarterly profit on Tuesday that was double the year-earlier figure, but its cautious outlook for the current quarter sent its shares down 12 percent.

The presentation will cover Sonic's operating strategy and financial results. The Company's presentation will be at 12:00 PM Pacific on November 3, 2009 at the Bellagio hotel.

Ratings agency Standard & Poor's said Wednesday it has lowered its long-term corporate credit rating on airline interior components manufacturer B/E Aerospace Inc.

Judge Bill Belk will get a chance to defend himself against accusations of misconduct when his disciplinary hearing resumes in less than two weeks.

Moody's Investor Service on Friday affirmed the junk status of corporate family debt held by Sonic Automotive but it changed its outlook to positive from negative.

This morning RBC Capital Markets downgraded shares of Coeur d'Alene Mines from Sector Perform to Underperform and set a price target of $5.25 per share.

Sonic Automotive Inc. will launch a public offering of 9 million shares of its Class-A common stock and convertible senior notes.