B.R. company reaching out: AppOne, a Baton Rouge-based company that serves as a bridge between lenders and independent auto dealers, is expanding into the Houston and northeastern Ohio markets. The company is now working with 15 credit unions in metro Houston and 10 in Cleveland, Canton and Akron, Ohio. The expanded business is a result of AppOne’s deal with Credit Union Acceptance Company, a Houston-based firm that works with about 130 credit unions. CUAC has been with the AppOne platform since June, working with Louisiana credit unions on auto loan origination.
Deal could lead to consolidation in natural gas: Exxon Mobil will buy XTO Energy in an all-stock deal worth $31 billion as the oil giant moved aggressively today to capitalize on the growing supply of natural gas at home. The deal could signal a new rush to own natural gas assets by major integrated producers, and perhaps the start of a significant consolidation in the energy industry. Exxon is closely watched in the industry and an acquisition like XTO could prompt other companies like Royal Dutch Shell PLC, BP BLC or Chevron Corp. to move. Potential targets include big natural gas companies like Chesapeake Energy, Devon Energy and Anadarko. XTO shows the priority that major producers are giving to natural gas as a fuel source. New technology has unlocked trillions of cubic feet of natural gas at home, meaning energy producers do not have to navigate tricky political environments overseas.
