Entries tagged "GMAC LLC"
A merger of Bank of America and GMAC would be an unlikely scenario, but a recent TheStreet.com report doesn't seem to think so.
Having learned a lesson about fickle investors Cerberus is inserting a three-year lock-up clause into its two new hedge funds.
More pink slips came out in December than in the previous months, raising the nation's unemployment rate to 7.2%, according to a report released by the Labor Department. Last month 524,000 jobs were lost with 14,000 from the the financial services and real estate sector, according to CNBC. For all of 2008, the economy lost a net total of 2.6 million jobs. Unfortunately, many of those lost jobs were in financial services industry, and many more jobs are still being lost as banks continue to merge and restructure. ...
It looks like GMAC LLC finagled its way into becoming a bank holding company after all, and got a bit more than a stocking stuffer for the holidays. The U.S. Treasury is buying $5 billion in senior preferred equity in GMAC and offered a new $1 billion loan to General Motors Corp. in an another attempt to stabilize the auto company. The $6 billion is an addition to the $17.4 billion emergency plan to bailout GM and Chrysler LLC. ...
Distressed investing specialist Cerberus has seen returns on its latest fund in the red after big bets on Chrysler LLC and GMAC LLC truned south.
