Wachovia to buy two auto lenders (Reuters via Yahoo! News)

Wachovia to buy two auto lenders (Reuters via Yahoo! News)
Wachovia Corp. on Monday said it would buy Westcorp Inc. and WFS Financial Inc. for nearly $4 billion in stock to expand its auto lending business.

Lenders Take Dim View of Auto Industry, with Nearly 90 Percent Predicting 'Flat' or 'Weak' Sales for Big 3, According (Business Wire via Yahoo! Finance)
One-third of lenders nationwide expect sales for the Big 3 automakers and their North American suppliers to be weak over the next six months, according to the results of this quarter's Phoenix Management "Lending Climate in America" Survey.