iOS app Android app

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...

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.

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...