Business Services Industry
Credit Acceptance is relisted, stock hits 15-month high.(listed on The Nasdaq Stock Market Inc.)
Crain's Detroit Business, May, 2006 by Henderson, Tom
Byline: Tom Henderson Credit Acceptance Corp. of Southfield capped its turnaround from last year's accounting troubles Wednesday when it was relisted on Nasdaq (CACC). The same day, its stock closed at its highest in the past 15 months, $25 a share. The stock closed Friday at $24.50. Last year, its share price tumbled from a high of $24.97 in January to $12.08 on July 20 after it reported in April that it would have to restate earnings.
The company was unable to meet quarterly reporting deadlines and was delisted in July. Its auditor at the time, Deloitte & Touche L.L.P., decided that because of the way deals were structured, the company was primarily making loans directly to dealers and not to consumers, which, for technical reasons, affected the timing...
Most Recent Business Articles
- Multiple criteria evaluation and optimization of transportation systems
- Multi-criteria analysis procedure for sustainable mobility evaluation in urban areas
- A two-leveled multi-objective symbiotic evolutionary algorithm for the hub and spoke location problem
- Multi-criteria analysis for evaluating the impacts of intelligent speed adaptation
- The development of Taiwan arterial traffic-adaptive signal control system and its field test: a Taiwan experience
Most Recent Business Publications
Most Popular Business Articles
- 7 tips for effective listening: productive listening does not occur naturally. It requires hard work and practice - Back To Basics - effective listening is a crucial skill for internal auditors
- FAS 109: a primer for non-accountants - Financial Accounting Standards Board's "Statement 109: Accounting for Income Taxes"
- Design a commission plan that drives sales - Sales Commissions
- Too Young to Rent a Car? - 25-years-old the minimum age for car renting - Brief Article
- LIFO vs. FIFO: a return to the basics
