GM sells its profitable lending arm for $10.4b

They had to do it for survival, but now they lose profits. Imagine that, a Japanese bank is one of the buyers! >:)
http://www.smh.com.au/news/business/gm-sells-its-profitable-lending-arm-f
or-104b/2006/04/04/1143916526453.html

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I wonder if they will use that to sibsidize Delphi's wage cutback package?

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Jim Higgins wrote:

Jim, you disappoint me! I was sure that you'd suggest that the sale proceeds would be used for Executive Compensation. How did you miss that opportunity? *lol*
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