Latest Cerberus Capital Management Stories

2009-06-01 18:22:00

DETROIT, June 1 /PRNewswire/ -- 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.

2009-06-01 07:41:00

AUBURN HILLS, Mich., June 1 /PRNewswire/ -- Chrysler LLC today announced that the U.S. Bankruptcy Court, Southern District of New York, has approved its request to sell substantially all of its operations to Chrysler Group LLC, the new company formed in alliance with Fiat SpA.

2009-06-01 07:33:00

DETROIT, June 1 /PRNewswire/ -- GMAC Financial Services is a creditor of General Motors Corp. (GM) and as such is taking the appropriate steps to protect GMAC's interests during GM's restructuring. GM has submitted a motion to the U.S.

2009-05-22 17:00:00

AUBURN HILLS, Mich., May 22 /PRNewswire/ -- The following comments on Chrysler and GMAC Financial Services can be attributed to Jim Press, Chrysler Group Vice Chairman and President, North American and International Sales, Global Marketing, Product Strategy, Service and Parts: "With nearly 90 percent of our U.S.

2009-05-20 14:30:00

AUBURN HILLS, Mich., May 20 /PRNewswire/ -- Chrysler LLC today announced that C. Robert Kidder, former Chairman of Borden Chemical Inc.

2009-05-20 15:20:32

The U.S.

2009-05-16 09:02:57

Auto financing firm GMAC says it will rename itself Ally Bank, reflecting its re-launch as a bank holding company in the wake of auto industry woes. The new name marks the moving away from a GMAC brand that goes back to 1919 when it was established in Detroit as General Motors Acceptance Corp.

2009-05-15 09:56:15

The U.S.

2009-05-07 16:15:00

NEW YORK, May 7 /PRNewswire/ -- GMAC Financial Services today confirmed capital requirements for the company resulting from the Federal Reserve's Supervisory Capital Assessment Program (S-CAP). In connection with this program, GMAC has committed that no later than Nov.

2009-05-05 06:58:00

- First quarter net loss of $675 million - Weak economic conditions and legacy credit costs adversely affected results - Increased levels of consumer credit extended in the quarter: $3.8 billion in auto and $13.4 billion in mortgage - Tier 1 capital ratio of 10.6 percent; Tier 1 common ratio of 7.3 percent - GMAC Mortgage begins participating in Home Affordable Modification Program - GMAC becomes preferred provider of automotive financing for Chrysler dealers and customers NEW YORK, May...

Word of the Day
  • A gift; a largess; a gratuity; a present; a dole.
The word 'donative' comes from a Latin word meaning 'to give'.