GMAC, the financing arm of General Motors owned by both Cerberus Capital Management, LP (51%) and GM (49%) received a wonderful gift late Christmas Eve when the Federal Reserve Board of Governors awarded the company “bank holding status” a move which allowed the company to apply for and receive TARP (Troubled Assets Relief Program) funding. [...]
Something stinks in Detroit. And I’m not talking about the Detroit River. General Motors has a network of thousands of dealers selling its many different brands all across the USA. Some of these dealerships have been in business for decades, even dating back to the earliest days when GM was just getting started. Those older [...]
Not too many car buyers purchase a car thinking what its long term value will be. Sure, you want to make certain that your ride lasts a number of years before you decide to trade it in for a new model or run it into the ground as you squeeze every last mile out of [...]
