"...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..."
You mean other than owning part of it? And using it to finance cars?
It seems like the US Government is the principal owner of GMAC....
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.
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:
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
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
"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."
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.
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:
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.
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