Why is GMAC Paying Dividends While It Begs the Taxpayer for Money?
Oct 29, 2009
Special from Cody Willard's The Cody Word Marketwatch.com Let me get this straight: GMAC, which was owned by private equity gambling firm Cerberus (which is run by former Goldman dudes and even Dan Quayle), used to be the lending and banking and gambling arm of GM. The company was founded in 1919 to help finance cars f ... Continue reading
TransUnion.com: National Auto Loan Delinquency Rates Continued To Fall In Second Quarter 2009
Sep 1, 2009
TransUnion.com released today the results of its analysis of trends in the auto lending industry for the second quarter of 2009. The report is part of an ongoing series of quarterly consumer lending sector analyses focusing on credit card, auto loan and mortgage data available on TransUnion's Web site at www.transunion ... Continue reading
Auto Dealers Call for More Time to Submit CARS Transactions
Aug 24, 2009
Website Crashes Have Stalled Submission Process ALEXANDRIA, VA (August 24, 2009; The American International Automobile Dealers Association (AIADA) today asked the Department of Transportation to extend its Car Allowance Rebate System (CARS) deadline, so that dealers will have time to submit all of their Cash for Clunke ... Continue reading
Aug 18, 2009
ROCHESTER, N.Y.--Every year, The Harris Poll asks a cross-section of adults whether they think about 20 leading industries do a good or a bad job of serving their consumers. The latest poll finds very big changes in the last 12 months. Some industries have seen their reputations crumble. Some show modest slippage. A fe ... Continue reading
GMAC to Offer New Leasing Option for Select Vehicles
Aug 10, 2009
DETROIT, Aug. 10 -- GMAC Financial Services today announced it will offer a leasing option for auto consumers on select vehicles. "GMAC's increased funding flexibility, the completion of key manufacturer restructurings and rising used car values have made leasing a viable financing option," said Bill Muir, GMAC preside ... Continue reading
CASH FOR CLUNKERS CONSUMER GUIDE
Jul 29, 2009
CARS-Cash Allowance Rebate System-CASH FOR CLUNKERS GUIDE ... Continue reading
Report Says Porsche Told by Deutsche Bank to Pump in Cash Quickly
Jul 25, 2009
FRANKFURT July 25, 2009; Marilyn Gerlach writing for Reuters reported that Deutsche Bank's CEO Josef Ackermann has told Porsche's owner families of the urgency to stump up cash in order to pay down the company's debts, which have risen to 14 billion euros (20 billion pounds), a German magazine said on Saturday. Ackerma ... Continue reading
Cashing in on Your Clunker? Don't Forget Auto Financing Basics, Says AWARE
Jul 24, 2009
Americans Well-informed on Auto Retailing Economics (AWARE) is reaching out to them to emphasize the importance of wise purchasing and financing decisions. "Those consumers who plan to use the CARS program will get the most out of their vehicle financing experience if they do their homework," says Eric Hoffman, spokesm ... Continue reading
Tesla Announces Roadster Financing by Bank of America
Jul 15, 2009
SAN CARLOS, Calif.--Tesla Motors announces Roadster financing in the United States by Bank of America, thus significantly expanding the number of customers who can experience the all-electric Roadster. Bank of America financing makes the Tesla Roadster much more affordable. For example, a customer approved for a 5-year ... Continue reading
Chrysler Financial Announces Full Repayment of Troubled Asset Relief Program (TARP) Loans
Jul 15, 2009
FARMINGTON HILLS, Mich., July 14 -- Chrysler Financial announced today it has repaid in full the $1.5 billion of Troubled Asset Relief Program (TARP) government loans. The Company originally secured TARP funding in January of this year to support Chrysler LLC in its efforts to remain viable. Chrysler Financial used the ... Continue reading
GMAC Financial Services Declares Dividends on Preferred Stock
Jul 14, 2009
DETROIT, July 14 -- The GMAC Financial Services board of directors declared quarterly dividend payments on preferred stock issued both to the U.S. Department of the Treasury, and to GMAC's wholly owned subsidiary Preferred Blocker Inc. The dividends were declared on July 13, 2009 and are payable on August 17, 2009. Div ... Continue reading
BMW Financial Services Celebrates 20 Years in Australia
Jun 15, 2009
BMW Financial Services Australia is celebrating its 20th anniversary in a strong position and with a positive outlook. "We are here to stay and to grow even stronger," said Alan Crookes, Managing Director of BMW Financial Services Australia and also BMW Head of Financial Services Asia Pacific, Africa, East Europe Regio ... Continue reading
GMAC Financial Services Statement on Continuation of Direct Business with GM
Jun 1, 2009
DETROIT, June 1 -- GMAC Financial Services has been notified that the U.S. Bankruptcy Court has approved a motion presented by General Motors Corp (GM) that enables GMAC to conduct its direct operations with GM in the ordinary course. As previously stated, GMAC continues to conduct all of its operations, including offe ... Continue reading
GM Announces Agreement For New Company With U.S and Canadian Governments
Jun 1, 2009
GM ANNOUNCES AGREEMENT WITH U.S. TREASURY AND CANADIAN GOVERNMENTS PROVIDING FAST TRACK TO COMPETITIVE FUTURE FOR 'NEW GM' NEW GM, BUILT FROM COMPANY'S STRONGEST OPERATIONS, EXPECTED TO LAUNCH IN 60-90 DAYS UNDER NEW OWNERSHIPGM FILES VOLUNTARY CHAPTER 11 TO IMPLEMENT '363' SALE AGREEMENTGM IS OPEN FOR BUSINESS IN THE ... Continue reading
New GMAC Board of Directors is Established
May 27, 2009
Non-Executive Chairman, Independent Directors Named DETROIT, May 27 -- GMAC Financial Services today announced that Michael A. Carpenter, Mayree C. Clark and Franklin (Fritz) W. Hobbs were named as independent directors to GMAC's board of directors, effective immediately. Hobbs was also elected to serve as non-executiv ... Continue reading
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