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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C, 20549
____________________
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): January 25, 1995
_______________________________________________________________________________
GFC FINANCIAL CORPORATION
(Exact name of registrant as specified in its charter)
DELAWARE 1-11011 86-0695381
_______________________________________________________________________________
(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification No.)
DIAL CORPORATE CENTER, PHOENIX, ARIZONA 85077
_______________________________________________________________________________
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: 602/207-6900
____________________________
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Item 5. Other Events.
GFC Financial Corporation announced on January 25, 1995 the change of
its name to The FINOVA Group Inc. along with the change in its
principal operating subsidiary's name from Greyhound Financial
Corporation to FINOVA Capital Corporation. Beginning February 1,
1995, the FINOVA Group's common stock will be listed on the New York
Stock Exchange under the symbol "FNV". FINOVA Capitol Corporation's
debt listed on the New York Stock Exchange will be traded under the
symbol "FNVA 02".
Item 7. Financial Statements and Exhibits.
(c) Exhibits:
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Exhibits Title
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<S> <C>
3(i) Press Release of GFC Financial Corporation
dated January 25, 1995
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
GFC FINANCIAL CORPORATION
(Registrant)
Dated: January 25, 1995 By /s/ Bruno A. Marszowski
_____________________________________________________
Bruno A. Marszowski, Senior Vice President,
Chief Financial Officer and Controller
Principal Financial Officer/Authorized Officer
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EXHIBIT 3(i)
Robert E. Radway Embargo until
602-207-5794 8:00 a.m. (E.S.T.)
GFC FINANCIAL CORPORATION ADOPTS NEW NAME
GFC FINANCIAL CHANGES NAME TO THE FINOVA GROUP INC.
PHOENIX, Arizona, January 25, 1995 -- Recognizing the substantial increase in
the company's size and scope of operations, GFC Financial Corporation (NYSE:
GFC) today announced the change of its name to THE FINOVA GROUP INC. along with
the change in its principal operating subsidiary's name from Greyhound
Financial Corporation to FINOVA CAPITAL CORPORATION. Beginning February 1,
1995, The FINOVA Group's common stock will be listed on the New York Stock
Exchange under the symbol "FNV." FINOVA Capital Corporation's debt listed on
the New York Stock Exchange will be traded under the symbol "FNVA 02."
Since its spinoff from The Dial Corp in March of 1992, GFC has become one of
the most successful commercial finance companies in the nation providing
secured financing to small and medium sized businesses in selected industry
niches. Since 1992, GFC has expanded its financing capabilities through strong
internal growth and the acquisitions of U.S. Bancorp. Financial, Ambassador
Factors and TriCon Capital. Because of its growth, the company has become a
$5.8 billion organization with a national market presence that, until today,
has been operating in fifteen market segments using four different identities.
"We are today, one of the country's major commercial finance companies," said
Sam Eichenfield, Chairman, President and CEO. "Our growth has been generated
internally and through strategic acquisitions; the time has come to go to
market under one name rather than continuing to use the various trade styles of
GFC, Greyhound, TriCon and Ambassador. FINOVA, a combination of the words
financial and innovators, describes not only our business but is also a tribute
to the company's greatest assets -- our employees. We expect to gain in
marketing identity, advertising efficiency and in our ability to more
effectively cross-sell our many financial services and products. Furthermore,
the change will symbolize the full integration of the various cultures that
have built the company."
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GFC Financial yesterday announced record fiscal year earnings from continuing
operations of $74.3 million ($2.94 per common share), an increase of 96% from
1993 earnings of $37.8 million ($1.80 per common share).
GFC Financial Corporation, with assets of $5.8 billion, is a Phoenix-based
major domestic commercial finance company providing secured lending to
middle-market companies, making loans from $500,000 to $35 million. GFC also
offers financing programs to manufacturers, distributors, vendors and
franchisors to facilitate the sale of their products to end-users.
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