Ford has it right! And profit too...

Page 1 of 2  
"...three years into his tenure as chief executive - and with a host of still nettlesome challenges awaiting him - Mr. Mulally has thus far proved
to be the unifying figure that Ford has needed for decades..."
"...All of this is beginning to show up in Ford's bottom line. It reported $1 billion in earnings in the third quarter of 2009, its first profitable quarter in nearly two years..."
Full Story... http://www.nytimes.com/2010/01/10/business/10ford.html?hpw
Add pictures here
<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>
Add image file
Upload
On 10/01/2010 9:45 AM, Bill wrote:

Maybe Obama aught to give GM to Ford for $1 just to get them out of our pockets. Then close down the other blood sucker, GMAC too.
Add pictures here
<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>
Add image file
Upload
GMAC is a FDIC insured BANK, GM has nothing to do with GMAC, dummy.

Add pictures here
<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>
Add image file
Upload

You mean other than owning part of it? And using it to finance cars?
http://media.gmacfs.com/index.php?sQ http://www.dbrs.com/research/228849/gmac-llc/gmac-llc-s-ratings-unchanged-after-gm-bankruptcy-senior-at-ccc.html
It seems like the US Government is the principal owner of GMAC....
Ed
Add pictures here
<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>
Add image file
Upload
Not so, GM sold controlling interest in GMAC to Ally Bank before it when into bankruptcy. GMAC in now a bank and no longer a finance Company http://www.ally.com/?CP=ppc130222

http://www.dbrs.com/research/228849/gmac-llc/gmac-llc-s-ratings-unchanged-after-gm-bankruptcy-senior-at-ccc.html
Add pictures here
<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>
Add image file
Upload

Add pictures here
<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>
Add image file
Upload
Apples and oranges, the point is GMAC was a General Motors corporation, controlled by General Motors, that is no longer the case. "GMAC Financial Services" and the new corporation know as GM is not the same thing and yes Canuk57 IS a dummy.

Add pictures here
<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>
Add image file
Upload
Canuck57 does not think you should have to pay for m business.
Why do you think I should pay for GM corruption?
Pretty obvious you support corporate tax slavery of Americans.
On 11/01/2010 1:13 PM, Mike Hunter wrote:

Add pictures here
<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>
Add image file
Upload
The wikipedia article is interesting also -
http://en.wikipedia.org/wiki/GMAC
Ed

Add pictures here
<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>
Add image file
Upload
That's correct GMAC.... (Financial Services)..., formerly known as General Motors Acceptance Corporation, is a US bank (Ally,) HOLDING company, not a Corporation or part of the new Corporation know as GM.
Search GMAC Bank for a reference. If you are interested in punching CD's, as I did, GMAC Bank has the highest current rates, particularly on CD's over $100,000.

Add pictures here
<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>
Add image file
Upload

Mike,
You have this wrong. GMAC was not sold to a bank. GMAC was spun off, with the government having controlling interest (at least for now). GMAC already had a bank, and renamed it Ally Bank. Ally bank did not buy GMAC. Read the link and maybe you'll get it right.
From my prior post...
GM didn't sell GMAC to Ally Bank. On the contraty, GMAC Financial Services created Ally Bank. From http://media.gmacfs.com/file.php/307/FactSheet_Ally_UpdateOct09.pdf :
"GMAC Financial Services established Ally Bank as a new brand on May 15, 2009 to clearly communicate a new approach to serving bank Customers. The company's news release and customer communications announced that GMAC Bank (established in August 2001) was becoming Ally Bank, with new products and features attractive to customers seeking a safe and efficient place to save and grow their money."
"Ally Bank is a U.S. online bank chartered by the State of Utah and regulated by the FDIC and the State of Utah. All customer call centers are based in North America. Ally Bank is one of several funding sources for GMAC Financial Services' retail and wholesale automotive, commercial and residential mortgage financing operations."
Ed
Add pictures here
<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>
Add image file
Upload
If you are correct then the information given to us in our stockholders report at the time was false. I guess I should file a stock fraud complaint SEC.

Add pictures here
<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>
Add image file
Upload

Add pictures here
<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>
Add image file
Upload
Thank you for doing a search for me that confirms what I have been saying all alone, and that is that GMAC has not been owned by GM for several years or has any control over it today. As to provide financing for Chrysler, I though I mentioned that in a previous post, as well.

Add pictures here
<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>
Add image file
Upload

GMAC has been taken by the government and renamed Federal Unified Corporate Kapital
Add pictures here
<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>
Add image file
Upload
Once again our friend Canuck57 is telling us the sky is falling LOL
wrote:

Add pictures here
<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>
Add image file
Upload
Yep, GM sold it to Carlyle to keep going, screwing bond holders who would have had that for collateral. Carlyle sucked out the cash as juicy dividends leaving GMAC broke, and made bad loans to keep GM selling and DC off their tails.
GMAC wanted to be a bank as it was bankrupt and no one would lend it money. And Bush/Obama/Federal Reserve let them create one. Obama's private bank of corruption to buy votes.
Coruption at it's finest. Supported by Carlyle, Cerberus, GM, Chrysler, Obama, Congress and Mike, as well as some more Harvard types. Yep, the biggest scam on the US taxpayers ever.
On 12/01/2010 1:01 PM, Mike Hunter wrote:

Add pictures here
<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>
Add image file
Upload
Once again our friend Canuck57 is telling us the sky is falling LOL

Add pictures here
<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>
Add image file
Upload

What you said was - "GMAC is a FDIC insured BANK, GM has nothing to do with GMAC, dummy." GM still owns a portion of GMAC and still relies on GMAC for financing. So clearly GM still has "something to do with GMAC." Alco GMAC is now a holding company, not a bank. It does own a bank (Ally Bank) as one of it assets. So you were wrong about that also. Two for two - your usual average. Well I suppose I can give you half credit, GMAC does own a bank, so at leat there was a bank in there somewhere, so I'll agree you were only 75% incorrect - better than your usual average.
Ed
Add pictures here
<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>
Add image file
Upload
Apparently you did not read your own post if that is what you still choose to believe

Add pictures here
<% if( /^image/.test(type) ){ %>
<% } %>
<%-name%>
Add image file
Upload

Related Threads

    Motorsforum.com is a website by car enthusiasts for car enthusiasts. It is not affiliated with any of the car or spare part manufacturers or car dealers discussed here. All logos and trade names are the property of their respective owners.