Gmac Sold 78 percent of its equity in GMACCH!!!!
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Joined: Apr 2005
Posts: 824
From: North of Cincy
Re: Gmac Sold!!!!
Originally Posted by Eric Bryant
What if GM doesn't have as much cash as they say they have? The number of cancelled and delayed programs certainly points to that, and from what has been mentioned in certain circles, the claimed $20B in "cash" ain't quite so simple as that.
If that is true and GM does not have the liquid capital we thought. Then selling GMAC is a smart move. Thinking for the long term is good but, if there is no future then the long term means nothing. Selling GMAC is a sign that things are worse then "WE" all thought.
Registered User
Joined: Nov 2000
Posts: 2,712
From: Ontario
Re: Gmac Sold 78 percent of its equity in GMACCH!!!!
The sale might not go through after all ...
http://www.forbes.com/feeds/ap/2006/...partner=alerts
http://www.forbes.com/feeds/ap/2006/...partner=alerts
General Motors Acceptance Corp. said Tuesday it may be unable to sell a majority stake of its operations, in a regulatory filing that again highlighted the myriad financial woes at the world's largest automaker.
GMAC, the giant finance arm of General Motors Corp., said in its annual report that "we are uncertain at this time if any transaction" will occur for GMAC or any of its subsidiaries, including residential mortgage arm Residential Capital Corp.
... and more
GMAC, the giant finance arm of General Motors Corp., said in its annual report that "we are uncertain at this time if any transaction" will occur for GMAC or any of its subsidiaries, including residential mortgage arm Residential Capital Corp.
... and more
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