Triad Financial Corp

Triad Financial Corp., a privately owned regional auto finance company, said that publicly traded ContiFinancial Corp. has acquired a 53.5% stake and intends to ultimately acquire all of Triad's stock. Terms of the cash transaction were not disclosed. ContiFinancial is a New York-based consumer and commercial finance company. Triad, based in Huntington Beach, was founded in 1988 and specializes in providing consumer finance packages for auto dealers.

Triad Financial Corp. said Wednesday that it was planning to relocate its Huntington Beach headquarters and 120 jobs to Texas. Triad specializes in financing auto loans for people whose credit ratings are poor. During the first half of the year, Triad's delinquencies increased to 11.2%, up from 9.5% at the end of 2006, even though it usually sees improved collections during that period, Triad said in its quarterly financial statement with the Securities and Exchange Commission.

Triad Financial Corp. said Wednesday that it was planning to relocate its Huntington Beach headquarters and 120 jobs to Texas. Triad specializes in financing auto loans for people whose credit ratings are poor. During the first half of the year, Triad's delinquencies increased to 11.2%, up from 9.5% at the end of 2006, even though it usually sees improved collections during that period, Triad said in its quarterly financial statement with the Securities and Exchange Commission.

The troubled parent of Huntington Beach-based Triad Financial Corp. has agreed to sell the auto lender to a unit of Ford Motor Co. to help it pay off debt. New York-based ContiFinancial Corp. said Monday that it will sell Triad, which makes car loans to people with spotty credit records, to Fairlane Credit LLC. Fairlane is a unit of Dearborn, Mich.-based Ford Credit Co., Ford's finance subsidiary.

ContiFinancial Corp., a New York finance company, said Thursday it will acquire the remaining 44% stake in Huntington Beach-based Triad Financial Corp. from minority shareholders by the end of the week. Financial terms weren't disclosed. ContiFinancial had acquired a majority stake in Triad in November 1996. Privately owned Triad, founded in 1988, specializes in providing consumer finance packages for auto dealers.

The troubled parent of Huntington Beach-based Triad Financial Corp. has agreed to sell the auto lender to a unit of Ford Motor Co. to help it pay off debt. New York-based ContiFinancial Corp. said Monday that it will sell Triad, which makes car loans to people with spotty credit records, to Fairlane Credit LLC. Fairlane is a unit of Dearborn, Mich.-based Ford Credit Co., Ford's finance subsidiary.

Huntington Beach-based Triad Financial Corp. has donated $8,000 to the city to install a bench in Heisler Park in remembrance of the 1998 Laguna Beach ocean accident that killed two Triad employees. The city's Arts Commission voted at its Monday meeting to launch a design competition in April. The bench will be installed at the north end of Heisler Park, overlooking Giggle Crack, where the accident occurred May 14, 1998.

The financing arm of General Motors Corp. said Tuesday that it had agreed to pay $1.8 billion for the commercial finance unit of Bank of New York in a bid to diversify its business away from automotive financing. The cash acquisition of BNY Financial Corp., expected to close by the end of the second quarter, would enable Detroit-based General Motors Acceptance Corp. to boost its asset-backed lending business globally and enter the factoring market to serve as a credit collection service.

Angelica Cuevas, the young mother who jumped into churning seas off Laguna Beach to save her daughter on Mother's Day, gave up her own tenuous hold on life Tuesday night. Family members elected to disconnect Cuevas, 26, from life-support 10 hours after doctors at South Coast Medical Center in Laguna Beach declared her brain dead. Her boyfriend, Zackery Kunzler, 24, died shortly after the trio were pulled from the ocean by lifeguards Sunday.

ContiFinancial Corp., a New York finance company, said Thursday it will acquire the remaining 44% stake in Huntington Beach-based Triad Financial Corp. from minority shareholders by the end of the week. Financial terms weren't disclosed. ContiFinancial had acquired a majority stake in Triad in November 1996. Privately owned Triad, founded in 1988, specializes in providing consumer finance packages for auto dealers.

Triad Financial Corp., a privately owned regional auto finance company, said that publicly traded ContiFinancial Corp. has acquired a 53.5% stake and intends to ultimately acquire all of Triad's stock. Terms of the cash transaction were not disclosed. ContiFinancial is a New York-based consumer and commercial finance company. Triad, based in Huntington Beach, was founded in 1988 and specializes in providing consumer finance packages for auto dealers.