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Latest Cerberus Capital Management Stories

2010-09-22 16:58:00

DULLES, Va., Sept. 22 /PRNewswire-FirstCall/ -- GeoEye, Inc. (Nasdaq: GEOY), a premier provider of superior satellite and aerial-based geospatial information and services, announced today that it completed the previously announced private placement of 80,000 shares of the Company's Series A Convertible Preferred Stock to Cerberus Satellite LLC, an affiliate of Cerberus Capital Management, L.P. (together with its affiliates, funds and managed accounts, "Cerberus"). Gross proceeds to the...

2010-09-14 01:30:00

SHANGHAI, Sept. 14 /PRNewswire/ -- GMAC-SAIC Automotive Finance Co., Ltd. (GMAC-SAIC), a joint venture between Ally Financial Inc., Shanghai Automotive Group Finance Co., Ltd. and Shanghai General Motors Co. Ltd., announced that it booked a monthly record for retail contacts in August, as it celebrated the sixth anniversary of its founding. GMAC-SAIC booked more than 18,000 retail contracts in August and has signed more than 109,000 retail loan contracts during the first eight months of...

2010-06-03 16:23:00

RESEARCH TRIANGLE PARK, N.C., June 3 /PRNewswire-FirstCall/ -- Talecris Biotherapeutics Holdings Corp. (Nasdaq: TLCR) today announced the promotion of John R. Perkins to the position of executive vice president, global commercial operations. In this leadership position, Perkins will be responsible for the global commercial business, including worldwide portfolio management, sales and marketing. "John has demonstrated strong leadership and a proven track record of success," said Lawrence...

2010-05-03 08:00:00

NEW YORK, May 3 /PRNewswire/ -- GMAC Financial Services today reported net income of $162 million for the first quarter of 2010, compared to a net loss of $675 million for the first quarter of 2009. Core pre-tax income, which reflects income from continuing operations before taxes and original issue discount (OID) amortization expense from bond exchanges, totaled $564 million in the first quarter of 2010, compared to a core pre-tax loss of $482 million in the comparable prior year...

2010-04-12 12:00:00

MINNEAPOLIS, April 12 /PRNewswire/ -- GMAC Financial Services today announced that its mortgage subsidiary, Residential Capital, LLC (ResCap), has agreed to sell its European mortgage assets and businesses to affiliates of certain funds managed by affiliates of Fortress Investment Group LLC (NYSE: FIG). These transactions represent approximately 10 percent of ResCap's Dec. 31, 2009 total assets and approximately 40 percent of total assets on a pro forma basis, adjusted for the required...

2010-04-08 15:37:00

DETROIT, April 8 /PRNewswire/ -- GMAC Financial Services today announced that its retail banking subsidiary, Ally Bank, has entered into a $7 billion secured revolving credit facility with a syndicate of lenders. The facility has a 364 day maturity and is available to fund automotive receivables. "Ally Bank is a key part of our automotive funding strategy and this new credit facility will provide incremental liquidity to support the most critical areas of our business, including dealer...

2010-04-05 12:35:00

JACKSON CENTER, Ohio, April 5 /PRNewswire-FirstCall/ -- Thor Industries announced today that it has selected GMAC Financial Services as the preferred retail finance provider for its retail customers. Peter Orthwein, Thor Chairman and CEO said, "Retail financing plays a major role in RV sales. Over the past 2 years, we have worked to maintain as much stability in our industry as possible. One of the benefits of this stability is seeing a leader, such as GMAC, supporting Thor Industries and...

2010-04-05 12:00:00

DETROIT, April 5 /PRNewswire/ -- GMAC Financial Services today announced that it will provide consumer financing for recreation vehicles and has been selected by Thor Industries as the preferred financial provider for its retail customers. Thor is the world's largest manufacturer of recreation vehicles, including brands such as Damon, Four Winds, Airstream, Dutchmen, Komfort, Breckenridge, CrossRoads, General Coach and Keystone RV. GMAC will begin by extending retail financing through...

2010-03-10 17:10:00

DULLES, Va., March 10 /PRNewswire-FirstCall/ -- GeoEye, Inc. (Nasdaq: GEOY), a premier provider of superior satellite and aerial-based geospatial information and services, announced today that on March 4 it entered into a binding commitment letter (the "Commitment Letter") with Cerberus Capital Management, L.P. (together with its affiliates, funds and managed accounts, "Cerberus"), pursuant to which Cerberus committed to purchase from the Company and the Company agreed to sell to Cerberus,...

2010-03-02 08:31:00

WINSTON-SALEM, N.C., March 2 /PRNewswire/ -- GMAC Insurance Personal Lines announced today it has completed its transition to new ownership by American Capital Acquisition Corporation (ACAC). Under the deal, GMAC Insurance's U.S. consumer property and casualty insurance business, which includes automobile, commercial vehicle, motorcycle and RV insurance offerings, will continue normal daily operations as it identifies key development initiatives to advance its competitive position. GMAC...


Word of the Day
ween
  • To think; to imagine; to fancy.
  • To be of opinion; have the notion; think; imagine; suppose.
The word 'ween' comes from Middle English wene, from Old English wēn, wēna ("hope, weening, expectation"), from Proto-Germanic *wēniz, *wēnōn (“hope, expectation”), from Proto-Indo-European *wen- (“to strive, love, want, reach, win”).
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