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Gmac Bailout

Mortgage Unit Of Government-Owned Lender Nearing Bankruptcy

Reuters | Posted 07.13.2012 | Business

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

Internal Documents Reveal GMAC Engaged In Mortgage Fraud

ProPublica | Paul Kiel | Posted 09.26.2011 | Business

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...

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

Posted 09.12.2011 | Business

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

WORST Corporate Rebrandings (PHOTOS)

Huffington Post | Sara Yin | Posted 05.25.2011 | Business

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...

GMAC: Pay Czar Limits Executive Pay At Struggling Lender

AP | DANIEL WAGNER | Posted 05.25.2011 | Business

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

GMAC Bailout Could Cost Taxpayers $6.3 Billion, Says Watchdog

AP | DANIEL WAGNER | Posted 05.25.2011 | Business

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

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

AP | JEANNINE AVERSA and STEPHEN MANNING | Posted 05.25.2011 | Business

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...

Alvaro de Molina: GMAC CEO's Private Jet Use

The Huffington Post | Ryan McCarthy | Posted 05.25.2011 | Business

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...

GM, Chrysler Want Billions More

Steve Parker | Posted 05.25.2011 | Business
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?

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

Dennis O'Brien | Posted 05.25.2011 | Business
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.

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

Steve Parker | Posted 05.25.2011 | Business
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.

Car sales, 2008; even worse than we thought

Steve Parker | Posted 05.25.2011 | Business
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...

GMAC Bailout: Government Gives $6 Billion

AP | CHRISTOPHER S. RUGABER | Posted 05.25.2011 | Business

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

GMAC Will Be Eligible To Seek TARP Funds

AP | MARTIN CRUTSINGER | Posted 05.25.2011 | Business

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

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

Steve Parker | Posted 05.25.2011 | Business
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.