FLMG is up over 27% in the last 3 days
Feb. 25, 2010 (U.S. Equity News) — Automotive Retail industry alert provided by U.S. Equity News. Fleet Management Solutions Inc. (Pinksheets: FLMG) (“FMS” or “the Company”) is pleased to announce that one of its client companies, ATE Rent S.A. of Athens, Greece, which specializes in the operation of leasing passenger cars, has increased the size of its initial contract with FMS by over 200% in just over 5 months. The initial contract between FMS and ATE Rent S.A., a Greece-based financial institution, was signed in August 2009 for the after sales servicing and management of its fleet of 225 vehicles. Following the success of the initial contract, ATE Rent S.A. has amended the contract to include an additional 452 leased vehicles for a total fleet of 677. As part of the agreement, FMS provides full management of the fleet including accident and breakdown repairs, the provision of replacement vehicles, and regular and scheduled maintenance. The total value of the contract is expected to exceed US$800,000.
Stocks are sharply lower as downbeat news about the nation’s job market and rising debt in Europe revived fears of a global economic slowdown
Major indexes slid more than 1 percent, including the Dow Jones industrial average, which fell 165 points. All 30 stocks that make up the Dow dropped. Treasury prices jumped as investors sought safe havens.
Disappointing reports on jobless claims in the U.S. and economic sentiment in Europe painted a bleaker picture of a recovery than Federal Reserve Chairman Ben Bernanke did during testimony Wednesday on Capitol Hill.
Overseas markets fell after the European Commission said economic sentiment in the 16 countries that use the euro worsened unexpectedly in February. Concerns that Greece will struggle to cut its budget and get its debt problems under control are again worrying investors.
Trading in the U.S. has been choppy in recent weeks because of uneasiness about the economy. And global markets retreated earlier this month because traders were worried Greece’s debt problems would spread to other European countries.
The euro again fell, touching a nine-month low against the dollar.
A new client profile and investor fact sheet are now available for Fleet Management Solutions Inc. (Pink Sheets: FLMG).