| Business Summary | | FIRSTPLUS
Financial
Group
(FIRSTPLUS)
is
a
specialized
consumer
finance
company
that
originates,
purchases,
services
and
sells
consumer
finance
receivables.
As
of
November
9,
2000,
FIRSTPLUS
had
no
operating
business
and
is
still
confronted
with
significant
issues
regarding
its
viability.
These
issues
include,
but
are
not
limited
to,
liquidity
issues,
a
pending
shareholder
class
action
and
other
litigation,
audit
and
SEC
regulatory
compliance
issues,
and
the
negotiation
of
liabilities
and
encumbrances,
including
the
defaulted
obligations
to
its
convertible
bondholders. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | FIRSTPLUS
Financial
Group
is
a
specialized
consumer
finance
company
that
originates,
purchases,
services
and
sells
consumer
finance
receivables.
For
the
comparable
nine
months
ended
9/98,
revenues
rose
22%
to
$609.3
million.
Net
loss
totalled
$34.3
million
vs.
income
of
$119.5
million.
Revenues
reflect
higher
interest
income
due
to
an
increase
in
the
average
loans
held
for
sale
balance.
Net
loss
reflects
the
inclusion
of
a
$58.1
million
fair
value
adjustment
and
a
$43.1
million
impairment
charge. | More
from
Market Guide: Significant
Developments |
| Officers | |
| Position | Daniel Phillips | Chairman,
CEO | Eric Green | Pres,
Director | William Benac | CFO,
Chief Accounting Officer |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|