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29.10.26 - 21:45
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36 states reach $220M settlement with General Motors over driver data privacy (The Hill)
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Automaker General Motors (GM) agreed to pay $220 million to settle a lawsuit with 35 states and Washington D.C., which alleged the company sold drivers' data to insurance companies, several attorneys general involved with the settlement announced Thursday. A bipartisan coalition of state attorneys general, led by Democrats Dan Rayfield of Oregon and Nick Brown......
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29.10.26 - 20:36
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KBRA Monitoring CMBS Exposure to Law Firm Weil, Gotshal & Manges LLP (Business Wire)
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NEW YORK--(BUSINESS WIRE)--#creditratingagency--It is being widely reported that one of the U.S.'s top 30 law firms Weil, Gotshal & Manges LLP (Weil) intends to pursue an orderly wind-down process over the coming months after a flurry of recent high-profile senior partner departures and failed merger efforts.
Weil's demise heightens credit risk for loans backed by office buildings where the firm is a major tenant. The firm's website reports that they have 17 offices worldwide, including 10 in the U.S., six in Europe, and one in Hong Kong. KBRA identified three of Weil's offices in buildings that are collateral for CMBS loans:
The General Motors (GM) Building
Weil's most prominent lease is at the GM Building at 767 Fifth Avenue in Manhattan, where it is the largest tenant, leasing nearly 450,000 sf and paying annual rent of roughly $54 million (17.5% of the property's total) under a lease that expires in 2034. Weil's current rental rate ($121 per sf) is at or below current market rental rates for tr...
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29.10.26 - 14:06
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Opus IVS Announces New Senior Sales Leader to Support Insurer and Major MSO Relationships (Business Wire)
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DETROIT--(BUSINESS WIRE)--Opus IVS today announced Quintin Paredes as Vice President of Insurer Relationships and Strategic Accounts. Paredes joins the team as demand for diagnostic solutions grows in response to the technological advancement of modern vehicles.
Paredes brings over twenty-five years of experience as an automotive industry executive working at the intersection of OEMs, collision repair, and insurance. His previous roles include leadership positions at major insurers where he served as Associate Director, Claims and Repair Network for Nationwide Insurance, and Director, Auto Physical Damage and Claims Operations for USAA. Most recently, Paredes was Head of Collision – Strategy, OEM Parts and Repair Network for General Motors.
“Intelligent electronics and advanced driver assistance systems are making vehicle repairs more complicated and technologically advanced with every new feature release. I look forward to the opportunity to support safer more accurate repairs by strengthening relati...
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28.10.26 - 14:36
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Badly Crippled GM Moves To Nasdaq (24/7 Wall St.)
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General Motors is betting a stock exchange switch will recast it as a tech-forward automaker, but the company faces shrinking relevance in two of the world's biggest car markets and a tariff shield that politicians could pull away overnight....
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