Topic: GMAC LLC
Watchdog: GMAC bailout could cost taxpayers $6.3B
AP News
Watchdog says Treasury lacks exit plan from GMAC bailout, taxpayers could lose $6.3 billionThe 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 $6.3 billion, a new watchdog report says. The ...
U.S. bailout watchdog criticizes Treasury over GMAC
Reuters US Online Report Business News
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 monthly report, said despite three separate bailouts ...
GMAC finance chief leaving for private equity job
AP News
GMAC chief financial officer Hull departing for position with private equity firmAutomotive 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 leave GMAC to become CFO at Providence Equity Partners ...
GMAC stable after latest bailout: US aide
AFP Global Edition
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, told the Congressional Oversight Panel that GMAC, which ...
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