Quantcast

Latest GMAC Stories

2010-04-23 15:40:00

ROTTERDAM, Netherlands, April 23 /PRNewswire/ -- The United States Bankruptcy Court for the Southern District of New York confirmed LyondellBasell's Plan of Reorganization today. The Plan received broad-based support from virtually all creditor classes entitled to vote on the Plan. LyondellBasell affiliates currently in voluntary reorganization are projected to emerge from Chapter 11 protection on April 30, 2010. "We are extremely proud to announce that in the short period of 15...

2010-04-21 05:00:00

AUBURN HILLS, Mich., April 21 /PRNewswire/ -- Net Revenues in Q1 2010 increased to $9,687 million, up from $9,434 million in Q4 2009. Operating Profit(a) came in at $143 million, as trading margins turned positive and continued to improve. Modified EBITDA(b) was $787 million, or 8.1 percent of Net Revenues. Net Loss significantly declined in Q1 2010 to $197 million due to improved operating performance. Cash(c) at March 31, 2010 strengthened to $7,367 million due to strong cash flow...

2010-04-16 09:00:00

DETROIT, April 16 /PRNewswire/ -- The GMAC Financial Services board of directors has declared quarterly dividend payments for certain outstanding preferred stock. The dividends were declared on March 25, 2010 and are payable on May 17, 2010. A quarterly dividend payment was declared on GMAC's Fixed Rate Cumulative Mandatorily Convertible Preferred Stock, Series F-2, of approximately $257 million, or $1.125 per share. This preferred stock was issued to the U.S. Department of the...

2010-04-15 07:05:00

PRINCETON, N.J., April 15 /PRNewswire/ -- When NAFA Fleet Management Association decided to hold its 2010 Institute & Expo in Detroit, the Association reached out to the Detroit Three (General Motors, Ford, and Chrysler). All three automakers jumped at the opportunity to speak directly to fleet managers from throughout North America right in their own backyard. Each of the Detroit Three will host an educational session, be part of important panel discussions, exhibit on the Expo Floor,...

2010-04-13 12:07:00

DETROIT, April 13 /PRNewswire/ -- In recognition of financial literacy month, GMAC Financial Services encourages consumers to understand their personal finances and to leverage free online tools such as the SmartEdge program to become more educated. GMAC's SmartEdge program, which began in 2005, is a public education program that offers modules on key topics to aid consumers in taking control of their finances. Consumers can elect to take the classes in person or online at their own...

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...

2010-04-08 11:39:00

WASHINGTON, April 8 /PRNewswire-USNewswire/ -- April is Financial Literacy Month, and there's no time like the present for consumers to educate themselves about auto financing, says Americans Well-informed on Auto Retailing Economics (AWARE). AWARE, an educational coalition that aims to help consumers understand the auto financing process, offers several tips for consumers on how to be smart shoppers throughout the process -- from the research phase beyond the transaction. "A little...

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...


Word of the Day
cock-a-hoop
  • Exultant; jubilant; triumphant; on the high horse.
  • Tipsy; slightly intoxicated.
This word may come from the phrase 'to set cock on hoop,' or 'to drink festively.' Its origin otherwise is unclear. A theory, according to the Word Detective, is that it's a 'transliteration of the French phrase 'coq a huppe,' meaning a rooster displaying its crest ('huppe') in a pose of proud defiance.' Therefore, 'cock-a-hoop' would 'liken a drunken man to a boastful and aggressive rooster.'
Related