GMAC LLC

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Pay czar limits exec pay at still-struggling GMAC

AP News 3 days ago

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 ...

GMAC CEO will receive no cash salary for 2010

AP News 7 days ago

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: GMAC bailout could cost taxpayers $6.3B

AP News 8 days ago

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 ...

U.S. bailout watchdog criticizes Treasury over GMAC

Reuters US Online Report Business News 8 days ago

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 finance chief leaving for private equity job

AP News 10 days ago

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 stable after latest bailout: US aide

AFP Global Edition 22 days ago

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, ...

GMAC Financial Services 3Q loss narrows

AP News 23 days ago

<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> ...

GMAC posts Q3 loss, hurt by mortgage unit

Reuters US Online Report Business News 23 days ago

<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, ...

You've seen the TV ads. So what is Ally Bank?

AP News 23 days ago

<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 ...

Economic forecasts in bank tests miss their mark

AP News 23 days ago

<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 ...

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