Gmac

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Fannie, Freddie, GMAC And AIG: Biggest Mortgage Backers Look Like 'Long-Term Wards Of The State'

MARY WILLIAMS WALSH | Posted 12.17.2009 | Business

Read More: Aig, Gmac, Treasury Department, Mortgage Backers, Freddie Mac, Mortgages, Fannie Mae, Real Estate, Housing Market, Business News

Even as the biggest banks repay their government debt in what is being heralded as a successful rescue program, four troubled giants of the financial ...

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Pay Czar Announces Compensation Limits At Banks, Automakers: SEE The Details

AP | DANIEL WAGNER | Posted 12.11.2009 | Business

Read More: Pay Czar, Kenneth Feinberg, Bailout, General Motors, Aig, Gmac, Citigroup, Business News

WASHINGTON — The Treasury Department has told four bailed-out companies that they can't pay some top earners more than $500,000 cash per year. B...

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Pay Czar Set To Announce Next Wave Of Compensation Limits Today

nytimes.com | REUTERS | Posted 12.11.2009 | Business

Read More: Citigroup, Gmac, Chrysler, Aig, Wall Street Compensation, Bailout, Bank of America, Pay Czar, Kenneth Feinberg, Wall Street Pay, Tarp, Business News

NEW YORK/WASHINGTON (Reuters) - The Obama administration's pay czar plans to announce on Friday his next wave of rulings as bailout recipients struggl...

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Fed Said to Ask Stress-Tested Banks to Submit TARP Repayment Plans

Bloomberg | By Scott Lanman and Craig Torres | Posted 11.24.2009 | Business

Read More: Tarp, Geithner, Repayment Plan, Stress Tests, Goldman Sachs, Bank of America, Paulson, Timeline, Regions Financial, Gmac, Wells Fargo, Fdic, Failed Banks, Toxic Asset Relief Plan, Fed, TARP Repayment, Treasury, Banks, Financial Crisis, Citigroup, Business News

The Federal Reserve asked nine of the U.S. banks that were part of this year's stress tests to submit plans for repaying the government's capital inje...

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GMAC CEO Alvaro de Molina Steps Down

AP | DAN STRUMPF | Posted 11.17.2009 | Business

Read More: Gmac, Alvaro De MOlina, GMAC CEO, Gmac-Properties, Gm, Bailout, Business News

NEW YORK — GMAC Financial Services says Alvaro de Molina has stepped down as CEO, a surprise departure that comes as the troubled auto lender re...

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Ally Bank: Is GMAC's Rebranded Bank Using Bailout To Offer High-Interest CDs?

AP | CANDICE CHOI | Posted 11.09.2009 | Business

Read More: Interest Rates, Fdic, Ally Bank, Cds, Banks, Bank Bailout, Gmac, American Bankers Association, Business News

NEW YORK — Its TV and print ads poke fun at the bait-and-switch tactics of other banks. Its interest rates on CDs have been the most generous in the...

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Can Citigroup Carry Its Own Weight?

New York Times | ANDREW MARTIN and GRETCHEN MORGENSON | Posted 11.01.2009 | Business

Read More: Tarp, Geithner, Hank Paulson, Fdic, Paulson, Economy, Mortgage Crisis, Vikram S. Pandit, Taxpayers, Gmac, Housing Crisis, Recession, Citi, Vikram Pandit, Mortgages, Subprime Mortgages, Wall Street, Bailout, Finance, Common Stock, Treasury, Banks, Timothy Geithner, Citigroup, Business News

OVER the past 80 years, the United States government has engineered not one, not two, not three, but at least four rescues of the institution now know...

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Pay Czar Ken Feinberg Raised Base Pay At Bailed Out Firms

Wall Street Journal | DAVID ENRICH and DEBORAH SOLOMON | Posted 10.28.2009 | Business

Read More: Citigroup, White House, Base Pay, Gm, Kenneth Feinberg, Compensation, Obama, Pay Czar, Gmac, Aig, Bank of America, Chrysler, Raised Base Pay, General Motors, Bonuses, Ken Feinberg, Executive Pay, Business News

Treasury Department pay czar Kenneth Feinberg last week announced sharp cuts in total compensation at the finance and auto companies under his control...

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GMAC Asks For $2.8 Billion More In Taxpayer Money

Wall Street Journal | DAN FITZPATRICK and DAMIAN PALETTA | Posted 10.28.2009 | Business

The U.S. government is likely to inject $2.8 billion to $5.6 billion of capital into the Detroit company, on top of the $12.5 billion that GMAC has re...

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Money Spent On Perks, Fringe Benefits Rose At Bailed Out Banks Last Year

Washington Post | Tomoeh Murakami Tse | Posted 10.20.2009 | Business

Read More: Benefits, Bank of America, Afl-Cio, Perks, Obama, Bofa, Gmac, Fringe Benefits, Corporate Jet, Ralph Babb, Tax Money, Wall Street, Bailout, Ken Lewis, Rescued Banks, Banks, Taxpayer Money, Chauffeur, Cit Group, Kenneth Feinberg, Bailed Out Banks, Business News

Even as the nation's biggest financial firms were struggling and the federal government was spending hundreds of billions of dollars to save many of t...

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Bailed-Out Banks Act Before Pay Czar Announcement

AP | DANIEL WAGNER and STEPHEN BERNARD | Posted 10.06.2009 | Business

Read More: CEO Pay, Executive Compansation, Bailout, Bank of America, Banks, Pay Rules, Gmac, Kenneth Feinberg, Citigroup, Business News

WASHINGTON — Several firms that received large taxpayer bailouts have adjusted executive compensation to trim cash payouts before the Obama admi...

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Walmart, CVS, Best Buy, GMAC Among 8 Major Companies To Pull Ads From Glenn Beck Show

Huffington Post | Posted 09.17.2009 | Media

Read More: Fox News, Gmac, ColorOfChange.Org, Boycott, Media Maters, Racism, Glenn Beck, Business, Advertising, Barack Obama, Media News

Walmart, Best Buy, CVS, and GMAC are among eight major advertisers that have confirmed pulling their advertising from Fox News' "Glenn Beck" program i...

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Pay Czar To Begin Reviewing Pay At 7 Bailed-Out Firms

New York Post | Posted 08.27.2009 | Business

Read More: Gmac, Gm, Bank of America, Chrysler Financial, Kenneth Feinberg, Wall Street Pay, Aig, Pay Czar, Pay Restrictions, Citigroup, Business News

Six weeks into his tenure as President Obama's compensation czar, Kenneth Feinberg has his sights set on pay packages he thinks are too rich for compa...

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Executive Pay: Treasury to Set Top Compensation At 7 Companies

nytimes.com | STEPHEN LABATON | Posted 07.12.2009 | Business

Read More: Treasury Department, Wall Street Bailout, Chrysler, Bank of America, Gm, Aig, Gmac, Bailout, Tim Geithner, CEO Compensation, Chrysler Financial, Wall Street Pay, Executive Compensation, Compensation-Rules, Pay Restrictions, Citigroup, Business News

WASHINGTON -- The Obama administration's sweeping new proposal to restrict executive pay is likely to be a humbling exercise for seven of the nation's...

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UPDATED: GMAC CEO's Private Jet Use

The Huffington Post | Ryan McCarthy | Posted 07.11.2009 | Business

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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CEO Private Jet Use Skyrockets

ABC News | Scott Mayerowitz | Posted 07.11.2009 | Business

Read More: IBM Samual J. Palmisano, CEO Travel, Ibm, Private Jets, Amex, CEO Private Jet Use, Kenneth I. Chenault, Gmac, Avalro G. De Molina, Business News

As hordes of Americans watched their retirement savings disappear and their home values plunge after the economic crisis started in September, many co...

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TARP Repayments Reveal The Weakest Banks

usnews.com | Rick Newman | Posted 07.10.2009 | Business

Read More: Tarp Banks, Tarp Bailout, Gmac, Goldman Sachs, Bank of America, Citigroup, Troubled Asset Relief Program, Tarp, Business News

The government has finally acknowledged something it wanted to keep secret six months ago: Which banks are in the worst financial health. It's now ...

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Banks Earned $7.6 Billion In First Quarter Profits

AP | MARCY GORDON | Posted 06.27.2009 | Business

Read More: Investment Banks, Fdic, Morgan Stanley, Wells Fargo, Federal Deposit Insurance Corp, Bank of America, Banks, Banking Crisis, Sheila Bair, FDIC Chairman Sheila Bair, Gmac, Citigroup, Business News

WASHINGTON — The nation's banks turned a profit in the first quarter, but the number of problem banks jumped to the highest level in 15 years an...

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Treasury To Lend GMAC At Least $7 Billion More

AP | Posted 06.21.2009 | Business

Read More: Tarp, Detroit Automakers, Auto Bailout, Treasury Department, Chrysler, General Motors, Gm, Auto Loan, Timothy Geithner, Gmac, Detroit Bailout, Business News

NEW YORK — The Treasury Department is set to inject billions more dollars into GMAC Financial Services, according to media reports. The Wall Stre...

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Obama: "Ich bin ein Chrysler!"

Steve Parker | Posted 05.31.2009 | Business

Obama talked his usual great game of absolute confidence at the end of his announcement this morning, telling the country, "If you're going to buy a new car, buy an American car."

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Chrysler Vultures May Win Too

Diane Francis | Posted 05.31.2009 | Business

Read More: Chapter 11, Automakers, Gmac, Chrysler, Auto Bailout, President Obama, Bankruptcy, General Motors, Hedge Funds, Fiat, Caw, Car Woes, Uaw, Auto Industry, Detroit, Cars, Business News

So here's what is next: Chrysler's hedge funds will make money on the deal because the courts will award something.

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January Car Sales -- a Final Reckoning Begins in Earnest ?

Steve Parker | Posted 03.06.2009 | Business

Read More: Big Pharma, Porsche, Scion, Automotive News, Chrysler, President Obama, Isuzu, Mercedes-Benz, Cars, Fiat, Ford, Gmac, Buy American, Chevy Silverado, Cerberus Capital Management, General Motors, Maybach, Stimulus Package, Hyundai, Hertz, Barbara Mikulski, Toyota, Detroit Three, Chevy Malibu, Lexus, Mexico, Xerox, Smart Car, Automotive Fleet, Subaru, Daimler, Japan, Europe, China, Business News

Until the travel business picks up and businesses in general start replacing their vehicle fleets, Detroit will be outside looking in.

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

Dennis O'Brien | Posted 02.09.2009 | Business

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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Madoff, Merkin and the Epidemiology of Fraud

Bradley W. Bloch | Posted 02.07.2009 | Business

Read More: Fraud, Transparency, Social Networks, Madoff Fraud, Social Networking, Mark Cuban, Bernard Madoff, Securities and Exchange Commission, Ezra Merkin, Gmac, Business News

The Madoff scandal sheds light on the extent to which friendships, philanthropic involvement, and other social ties influence presumably "rational" decisions, like how money is invested.

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Bottom Line: 2008 Car/Truck Sales Probably Worst Since 1974

Steve Parker | Posted 02.03.2009 | Business

Read More: Ebay, Treasury Department, Porsche, Automotive News, Paris Dakar Rally, Wall Street Bailout, Congress, Hank Paulson, Troubled Assets Relief Program, Chrysler, Ford Mustang, Detroit Lions, Cars, Detroit News, Ford, Highland Park, Supercharger, Dodge Durango Hybrid, General Motors, Chad Hall, Dodge Challenger, Chrysler EVs, Chevy Cobalt, 1974 Oil Embargo, Detroit, Carroll Shelby, Off-Road, Baja 1000, Porsche Panamera, Detroit Bailout, Chrysler Aspen Hybrid, Pickups, FICO Score, Chevy Cruze, Minivan, Hilton Hotels, Nascar, Detroit Three, Gm, Robby Gordon, Mexico, Washington DC, Daewoo, Rod Hall, Tokyo, Gmac, TARP and Auto Bailout, Seoul, Detroit Three Loans, San Jose Del Cabo, Hummer Sale, gt500, Darpa, Stuttgart, SUV Sales, Detroit Auto Show, Business News

The only other time the industry has seen a 3-million (or more) unit plunge was following the 1974 oil shortage.

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