Seems like Cerberus is trying to "force" a deal...

"GMAC Says It May Halt Financing to Some GM Dealers"
http://www.bloomberg.com/apps/news?p...IDM&refer=home

 

Cerberus's control over GMAC is making things worse for GM right now. Guaranteed.

 

As Ted Turner put it... be very careful who you do business with!

 

GM needs to forget chyrstler and buy back GMAC, declare bankruptcy and re-order everything before it's too late. Cerberus is a real pain, and it will only get worse if they lose all of GMAC.

 

GM doesn't need to buy back GMAC.

They only need to buy an additional 2% of it.

 

Excellent point!

 

Welcome to 9 days ago

http://web.camaross.com/forums/showp...&postcount=126

 

Different article. Mine was dated Oct. 30, which was yesterday. Also different point in the article, one had to do with GMAC limiting loans to people with credit ratings over 700 (yours) and one had to do with loans to dealers to purchase vehicles for their inventories (mine).

Apples and oranges junior.

 

We have been discussing GMAC for weeks and their power play. No need to start another post about it, is there? By your logic you should have just added this to one of those posts instead of starting a new topic.

 

Then I guess we should only have one Camaro thread using that logic.

The only thing that the articles had in common was GMAC (Cerberus) making it more difficult for dealers to sell vehicles. However, they were doing it using two different methods.

 

Either way, they need to get back in control instead of having people who only care about their bottom line running the show. It needs someone who will help the company survive. Too many CEO/Stockholder types want big bucks and don't care who goes down as long as they get paid.