Pay czar restrains top salaries at GMAC as auto finance giant loses money, relies on bailout The Obama administration's pay czar is limiting 2010 compensation for top executives at GMAC Inc. because the auto finance giant continues to lose money and can't ...
After lucrative 2009, GMAC CEO agrees to take no cash salary for 2010 in deal with pay czar The CEO of bailed-out auto finance giant GMAC Inc. will receive no cash salary for 2010 and will be compensated in restricted stock, under ...
Watchdog says Treasury lacks exit plan from GMAC bailout, taxpayers could lose $6.3 billion The Treasury Department sank billions into auto finance giant GMAC Inc. without an exit strategy or proof the company was viable — a decision that could cost taxpayers ...
WASHINGTON (Reuters) - The U.S. Treasury's decision against a bankruptcy restructuring for GMAC may have increased taxpayer bailout costs for the auto finance company and made it less viable, an oversight group said on Thursday. The Congressional Oversight Panel, in a new ...
GMAC chief financial officer Hull departing for position with private equity firm Automotive finance company GMAC Financial Services will lose its chief financial officer to a private equity firm by the end of March, the company said Tuesday. Robert S. Hull will ...
GMAC, the troubled former finance arm of General Motors, has been "stabilized" since the latest government bailout, a special US adviser told a congressional panel Thursday. Ron Bloom, a senior adviser to the US Treasury for the restructuring of the auto sector, ...
<div id="subtitle">GMAC posts smaller loss in 3rd quarter, but home lending unit weighs on results</div><div><p>GMAC, the main lender for GM and Chrysler customers and dealers, reported another quarterly loss Wednesday as bad loans continued to haunt its mortgage lending unit.</p><p> ...
<div><p>NEW YORK (Reuters) - GMAC Financial Services, a lender that has received $12.5 billion in government bailouts, posted a third straight quarterly loss on Wednesday, hurt by red ink in its mortgage business.</p><p>The third-quarter net loss for Detroit-based GMAC was $767 million, ...
<div id="subtitle">You've seen the TV and print ads. So what exactly is Ally Bank?</div><div><p>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 industry.</p><p ...
<div id="subtitle">Bank tests find all but GMAC raised enough capital, but economic forecasts prove unrealistic</div><div><p>All but one of the 19 largest banks have raised the extra capital cushion regulators said they'd need to withstand a deeper recession — a sign, the Treasury ...
