leases

Not So Friendly's: Bankrupt Chain Lays Off 1,260

The 63 restaurants Friendly's closed on Wednesday resulted in about 1,260 layoffs -- more than 12% of the company's 10,300 person workforce. Everyone from managers to dishwashers were told Tuesday evening that the following day would be their last at Friendly's.

Presidential Escape: Who Bought Obama's Ford Hybrid?

The recent winning bidder for a low-mileage 2008 Ford Escape hybrid may have gotten more than he or she bargained for -- especially if it's dark gray in color. It seems that matches the description of the vehicle President Barack Obama drove prior to his bid to become president of the United States.

GM's a Day Away From Making Its Own Car Loans Again

General Motors will once again have its own in-house financing unit starting Friday, when the auto giant closes on its $3.5 billion purchase of AmeriCredit. The new unit, to be renamed General Motors Financial, will allow GM to offer consumers more financing and leasing options.

Chicago's Next Mayor Could Find City Coffers Almost Empty

Chicago%u2019s next mayor may will find the city%u2019s coffers almost empty after Richard M. Daley dipped into reserves to balance this year%u2019s budget. The city expects a $654.7 million deficit for 2011, Bloomberg News reported. Daley balanced this year%u2019s budget partly with reserves. If he uses funds from leasing parking meters, garages and a toll road to fill the 2011 gap, the city will be left with only $121 million.

GM Looks Set to Report Another Profit

Three months after turning profitable since its bankruptcy, GM CEO Ed Whitacre is expected to report it made even bigger profits -- perhaps in excess of $1 billion -- during the second quarter when it releases its latest results on Thursday.