Ally provides $2 billion in financing to Carvana
Hannah LutzAutomotive News - Under the new agreement, the Detroit-based finance company will make the funding available to the online used car dealer for financing and bulk purchases of contracts. The...
View ArticleFlagstar agrees to buy eight bank branches in California
Tyler Clifford - The deal, which includes Desert Community Bank and its assets and liabilities, will help Flagstar expand in California with "a high-quality deposit franchise."
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Tax reform limbo could delay M&As to new year
Dustin Walsh - With the potential to save millions on next year's tax bill, companies are putting the brakes on closing in 2017, according to local experts.
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On Michigan's readiness for the next economic downturn
Dustin Walsh - Traub: "The two ways to grow the economy are add more people or increase productivity. Companies haven't done that yet while sitting on massive piles of cash."
View ArticleEcorse no longer under state oversight
Associated Press - Ecorse officials have regained full control over the city's budget and internal operations, the state Treasury Deaprtment announced Monday.
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Metro Detroit communities see rush to prepay 2018 property taxes
Chad Livengood - Some homeowners are trying to get ahead of a cap on tax payments that can be deducted under the new federal tax reform law.
View ArticleCrestmark Bank sold to South Dakota finance company in $320.6 million deal
Crain's Detroit Business - Meta Financial Group buys the business finance company in an all-stock deal. Crestmark will continue to operate from its Troy headquarters.
View ArticleMeta Financial acquires Troy-based Crestmark
Tom Henderson - The acquisition of Troy-based Crestmark Bancorp Inc. by Sioux Falls, S.D.-based Meta Financial Group Inc. in a $320.6 million, all-stock deal is expected to close in the second quarter.
View ArticleGrow Michigan Fund gets two year extension
Tyler Clifford - The fund board and Michigan Strategic Fund agreed to extend the investment group's lifeline through 2019.
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How tax reform could affect your small or mid-sized firm
Rachelle DamicoSpecial to Crain's Detroit Business - Confused about the new tax reform law? You're not alone. Here are the basics for small business owners.
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MSU credit rating under review in wake of Nassar case, Moody's says
Dustin Walsh - The debt-rating agency says it will review MSU's position and that impacts on its finances and reputation could affect its ability to pay its debt.
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Quicken Loans overtakes Wells Fargo as largest mortgage lender in Q4
Chad Livengood - Dan Gilbert's Detroit-based mortgage banking company ranks tops in mortgage originations for the first time.
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Detroit fire and police pensions make 12 percent gain
Chad Livengood - A solid stock market helps the fund more than cover payouts from 2017 out of investment gains.
View ArticleBalanced budget helps state's future
State Treasurer Nick Khouri: "As we begin the debate about additional tax reductions, we need to keep at the forefront our commitment to pass sustainable balanced budgets that do not leave our...
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Ex-CFO at Compuware, Stroh's Ralph Caponigro dies at 85
Annalise Frank - The Bloomfield Hills resident helped lead Compuware during its 1992 initial public offering.
View ArticleHuron Capital beefs up management team
Tom Henderson - With several deals pending, the state's most active private equity firm adds Scott Hauncher from Superior Capital as partner among other changes.
View ArticleAutobooks raises $10 million funding round
Tom Henderson - The Detroit-based financial tech company plans to target bigger customers, double head count and open an office in Austin, Texas.
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Scenes from a stock market correction
Dustin Walsh - Last week's wild ride on Wall Street had its local impact, too.
View ArticleTechTown, Kyyba Innovations to host fintech pitch competition with $50,000...
Tyler Clifford - The Farmington Hills-based software development company looks to invest in an early-stage business that can create innovative products for the banking industry.
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