Gmac Bailout

Mortgage Unit Of Government-Owned Lender Nearing Bankruptcy

Reuters | Posted 05.14.2012

Read More: Video, Rescap Ally Financial Bankruptcy, Rescap-Bankruptcy-Ally-Financial, Rescap, Reuters, Ally Financial, Business News, Rescap-Bankruptcy, Gmac, GMAC Bailout, Business News

By Rick Rothacker and Paritosh Bansal NEW YORK, May 13 (Reuters) - Ally Financial Inc's Residential Capital unit is nearing a bankrupt...

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Internal Documents Reveal GMAC Engaged In Mortgage Fraud

ProPublica | Paul Kiel | Posted 09.26.2011

Read More: Mortgage Fraud, Mortgage Crisis, 2008 Financial Crisis, Paul Kiel, Subprime Mortgages, Propublica, Gmac, Subprime Mortgage Crisis, GMAC Bailout, Business News

GMAC, one of the nation's largest mortgage servicers, faced a quandary last summer. It wanted to foreclose on a New York City homeowner but lacked the...

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Allstate's Three-Month Catastrophe Losses Equal All Of Last Year's

Posted 09.12.2011

Read More: Detroit, Allstate, Quarter 2, Taxes, Northbrook, Illinois, Home-Insurance, Gmac, Auto Insurance, GMAC Bailout, Video, Business News

BANGALORE (Aditi Sharma) - Allstate Corp (ALL.N), the largest publicly traded U.S. home and auto insurer, said it sees pre-tax catastrophe losses ...

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WORST Corporate Rebrandings (PHOTOS)

Huffington Post | Sara Yin | Posted 05.25.2011

Read More: Chevrolet, Aol, Logos, Car Ads, Rebranding, Xe, Willis Group Holdings, Chevy Ads, Sears Tower, Chevy, Marketing, General Motors, Radio Shack, Blackwater, Brinks, Slidepollajax, Phillip Morris, GMAC Bailout, Business News

General Motors may have backed off a "poorly worded" memo demanding employees call Chevy by its more refined name, Chevrolet, but the company's market...

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GMAC: Pay Czar Limits Executive Pay At Struggling Lender

AP | DANIEL WAGNER | Posted 05.25.2011

Read More: Auto Bailout, CEO Pay, Executive Pay, Pay Czar, Gmac, Kenneth Feinberg, Congresisonal-Oversight-Panel, GMAC Bailout, Business News

WASHINGTON — The Obama administration's pay czar is limiting 2010 compensation for top executives at GMAC Inc. because the auto finance giant co...

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GMAC Bailout Could Cost Taxpayers $6.3 Billion, Says Watchdog

AP | DANIEL WAGNER | Posted 05.25.2011

Read More: Gmac, GMAC Bailout, Congressional Oversight Panel, Treasury Department, Elizabeth Warren, Business News

WASHINGTON — The Treasury Department sank billions into auto finance giant GMAC Inc. without an exit strategy or proof the company was viable &n...

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GMAC's Latest Bailout: $3.5 Billion More In Aid, According To Report

AP | JEANNINE AVERSA and STEPHEN MANNING | Posted 05.25.2011

Read More: Treasury Department, Bailout, General Motors, Ally Bank, Detroit, Gmac, GMAC Bailout, Business News

WASHINGTON — The government gave GMAC Financial Services another $3.8 billion in cash and took a majority stake in the auto lender, aiming to st...

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Alvaro de Molina: GMAC CEO's Private Jet Use

The Huffington Post | Ryan McCarthy | Posted 05.25.2011

Read More: Alvaro De MOlina, GMAC CEO, Private Jet, Gmac, CEO Private Jet, GMAC Bailout, Business News

UPDATED -- A spokesperson for GMAC responded to this story and said that the increase in Al de Molina's compensation in 2008 was a result of to him be...

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GM, Chrysler Want Billions More

Steve Parker | Posted 05.25.2011

Read More: White House, Congress, GMC Truck, Saturn, Chrysler, Buick, Rick Wagoner, United Auto Workers, George W. Bush, Fiat, Cars, Chinese, Detroit News, Ford, American Recovery and Reinvestment Act of 2009, Lawrence Summers, New York Federal Reserve Bank, General Motors, Brembo, Mini, Delphi, Charlie Rose, GMAC Bailout, 2010 Chevrolet Camaro, Uaw, Penske Automotive Group, Detroit Three, Chevrolet, Moody Blues, Mitt Romney, Pontiac Solstice, Mitsuoka Motor, Roger Smith, Frankfurt International Auto Show, Pontiac, Ferrari, Saab, Tokyo Motor Show, Bmw, Smart Car, Wall Street, Dodge, Tim Geithner, President Obama Administration, Henry Paulson, Hummer Sale, Hollywood, Cadillac, Firebird, Miata, Auto Bailout, Business News
Steve Parker

Incidentally, GM got another $4 billion Tuesday after turning in their plan. Were you ever rewarded that much just for doing your homework?

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Snow, Quayle, Feinberg and Merkin: This Is Who Gets Our Bailout Money?

Dennis O'Brien | Posted 05.25.2011

Read More: Junk Bonds, Drexel Burnham Lambert, Chrysler, John Snow, Chrysler Bailout, Ezra Merkin, New York Law School, Gmac, Cerberus, Auto Bailout, Chrysler Cerberus, Cerberus Capital Management, Ascot Partners, Dan Quayle, Henry Paulson, Financial Crisis, Bernard Madoff, Nyu, Cerberus Capital, Ariel Mutual Funds, GMAC Bailout, Steve Feinberg, Congressional Bailout, Detroit Bailout, Business News
Dennis O'Brien

As a completely unregulated private equity partnership, Cerberus has no public reporting requirements. In fact, they are now refusing to disclose their finances even after the bailout.

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Even After $14 Billion in TARP Money, Detroit's on Life-Support

Steve Parker | Posted 05.25.2011

Read More: Treasury Department, Automotive News, FICO Score, Chrysler, Detroit Three, Cars, Detroit Auto Show, Ford, Jeep Patriot, Dodge Ram, Nissan, TARP and Auto Bailout, Los Angeles Auto Show, General Motors, Infiniti, Paul Krugman, Chrysler Financial, NY Times, Detroit Bailout, GMAC Bailout, Business News
Steve Parker

With economists predicting a rough 2009, 2010 and maybe even 2011, there's not much chance of '09 and '10 car sales reaching even 2008's miserable 13.1 million.

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Car sales, 2008; even worse than we thought

Steve Parker | Posted 05.25.2011

Read More: World Rally, Pony Cars, Porsche, Automotive News, Chrysler, Ford Mustang, Hemi Engines, The Wizard of Oz, Isuzu, Obama Administration, Mercedes-Benz, Cars, New York Federal Reserve, Fuji Heavy Industries, Ford, Volkswagen, Maybach, Motor Trend, Nissan, Dodge Challenger, Cadillac Srx, Chevrolet Equinox, Scotland, Mercury Milan Hybrid, Timothy Geithner, Huffington Post, Buick Lacrosse, GMAC Bailout, Pickups, TV Pitchman Vince, FICO Score, 2010 Chevrolet Camaro, Toyota, Gm, Minivan, Ford F-150, Detroit Three, Associated Press, Chicago Cubs, American Honda, Gmc, Smart Car, Wall Street, Colin Mcrae, Detroit Three Loans, Cadillac Cts Wagon, Subaru, Bmw, Car Czar, Daimler, Mitsubishi, Treasury Secretary, SUV Sales, Credit Unions, Ford Fusion Hybrid, Business News
Steve Parker

Monday brought three conference calls, each about an hour, with executives from each of the Detroit Three announcing, dissecting and, most of all, spi...

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GMAC Bailout: Government Gives $6 Billion

AP | CHRISTOPHER S. RUGABER | Posted 05.25.2011

Read More: Auto Industry Bailout, Auto Industry Bailout Expands, General Motors, Auto Industry, GMAC Bailout, Business News

WASHINGTON — The Treasury Department said Monday that it will provide $5 billion to GMAC Financial Services LLC, the ailing financing arm of Gen...

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Some Good -- and Fun -- Automotive News for the Holidaze

Steve Parker | Posted 05.25.2011

Read More: Cell Phones, Tarp, Automotive News, Good Sam Club, Chevy Volt, Troubled Assets Relief Program, Tata Motors, Honda Accord, Rose Parade Committee, Chrysler, Rick Wagoner, Honda, Federal Reserve, Cars, F1, The Oscars, Ford, FCX Clarity, General Motors Acceptance Corporation, Gmac, Representative Sandy Levin, Senator Carl Levin, Jean Shepherd, General Motors, Japanese Cars, Suburban, Hyundai, Christmas, Pasadena Rose Parade, Nobuhiko Kawamoto, GMAC Bailout, Jaguar, Hyundai Excel, Toyota, Chevrolet, Washington DC, American Honda, Land Rover, Red Ryder Bb Gun, Floorplanning, Formula One, Chevrolet Cruze, Asimo, Daisy Red Ryder Bb Gun, Landline Phones, Rolls-Royce Phantom, Honda Super Cub, Pasadena, Santa Claus, Subaru, Hawaii, Business News
Steve Parker

Really wish there were better news to post about, but the auto industry is reeling worldwide, and there's no better example than Toyota.

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GMAC Will Be Eligible To Seek TARP Funds

AP | MARTIN CRUTSINGER | Posted 05.25.2011

Read More: Gmac, Bailout, Gm, Tarp, GMAC Bailout, Business News

WASHINGTON — The Federal Reserve gave an early Christmas present to General Motors' finance arm, allowing the ailing provider of auto loans to q...

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