Sub-Prime Worries Drive Auto Dealers and Lenders Toward Streamlined Loan Portfolio Management, GDEX Founder Says

 WHAT: Next to mortgage lenders and home builders, no one is keeping a closer watch on sub-prime finance trends than America's automobile dealers and the financial institutions that in 2006 made more than $50 billion in auto loans to sub-prime borrowers, according to J.D. Power and Associates. That's why streamlining portfolio risk
 
 management is high on the agenda of both dealers and lenders, says Mike Sheridan, founder of Global Debt Exchange, LLC (GDEX) and president of GDEXAuto (www.gdexauto.com), a soon-to-be-launched online platform that helps automobile dealers and lenders manage their portfolio risk by streamlining the packaging, pricing, due diligence, closing and funding of packages of asset-backed auto loans. Mike Sheridan is available to comment on the fallout from the sub-prime crisis on the auto finance business, steps dealers and lenders are taking to mute the impacts, and the long-term benefits to the industry of a faster, better, safer portfolio management process. WHO: Global Debt Exchange, LLC (GDEX) is a privately held start-up venture that simplifies auto finance by offering GDEXAuto, the first Web-based marketplace where auto dealers, banks, credit unions, hedge funds and other financial institutions can come together to securely evaluate, package, price, sell and purchase asset-backed debt. Mike Sheridan, Founder & President, GDEX Mike Sheridan is a self-described "serial entrepreneur" and investment professional. Prior to starting GDEX in late 2006, he served as director of Finance at Management Partners Leadership Committee; senior associate at Growth Management Partners; partner at Blue Water Ventures LLC; and partner at Venature LLC. GDEX received $500,000 in Series A funding in June 2007 and is based in Alamo, Calif. "The sub-prime crisis provides a 'perfect storm' environment that will drive auto dealers and lenders to focus on new, more efficient ways to quickly assess, package and diversify their auto loan portfolios to maximize liquidity and more effectively balance risk." - Mike Sheridan, Founder, Global Debt Exchange (GDEX) and President, GDEXAuto HOW: To schedule an interview with Mike Sheridan of GDEX, contact: Ken Greenberg Edge Communications, Inc. 818-990-5001 ken@edgecommunicationsinc.com