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More than 100 Chrysler dealerships face possible closure if they cannot reach new financing deals with GMAC Financial Services or another lender, people involved in the process said. 12:01 am U.S. ET | Nov. 20
Auburn, Ind., auctioneer Dean Kruse has been ordered by a local court to pay more than $1.3 million to an Indiana bank, and a leasing company has asked a federal judge to repossess Kruse's 1985 Cessna jet, which had been insured at $3.5 million. 11:54 am U.S. ET | Nov. 19
General Motors Co. has “narrowed the field” to two possible candidates to replace CFO Ray Young and may make a decision by year end, Bloomberg News reported, citing two people close to the matter. 12:17 pm U.S. ET | Nov. 18
• White House wants fast-track IPO for GM
Auto business still GMAC's priority, new chief says
The boardroom shake-up at GMAC Financial Services still leaves the company on course to become a broad-based financial services company serving dealers of all makes. 3:53 pm U.S. ET | Nov. 17
De Molina resigns as GMAC chief, is replaced by Carpenter
Alvaro de Molina resigned today as CEO of GMAC Financial Services after less than two years on the job, as the GMAC board asked the U.S. Treasury Department to delay a third round of financial assistance for the lender. 4:35 pm U.S. ET | Nov. 16
GMAC needs another cash infusion, Fed says
GMAC Financial Services, which has received $12.5 billion in federal aid, is negotiating for a fresh infusion of taxpayer funds because it has not raised enough capital to survive a deepening recession, the Federal Reserve said. 10:00 am U.S. ET | Nov. 10
Carfax, Experian add clunker VINs to databases
The industry's two top vehicle history reporting companies have added to their databases vehicle identification numbers of the 700,000 trade-ins meant to be scrapped under the government's cash for clunkers program. 4:08 pm U.S. ET | Nov. 5
Up to 140 Chrysler dealers still need floorplan financing
About 130 to 140 Chrysler Group dealers have not been approved for permanent floorplan financing because of lingering issues with Chrysler Financial, Peter Grady, the automaker's vice president of network development and fleet, said today. 2:20 pm U.S. ET | Nov. 4 | UPDATED: 11/4/09 5:33 p.m. ET
Lawmaker asks GMAC to extend Chrysler dealer floorplans
GMAC Financial Services should extend a six-month program of interim floorplan financing for Chrysler Group dealerships to help keep many of them from going out of business, a Michigan congresswoman says. Rep. Candice Miller, R-Mich. 4:26 pm U.S. ET | Nov. 4
GMAC narrows losses in Q3; auto operations profitable
GMAC Financial Services reduced its third-quarter net loss to $767 million from $2.5 billion for the same period last year and from $3.9 billion in the previous quarter this year. 9:01 am U.S. ET | Nov. 4 | UPDATED: 11/4/09 11:29 a.m. ET
Red Flags Rule delayed for 4th time
The Federal Trade Commission has again postponed enforcement of the Red Flags Rule -- a regulation designed to protect consumers from identity theft. Enforcement has been delayed a fourth time -- until June 1, 2010. 11:09 am U.S. ET | Nov. 3
Credit troubles may keep U.S. auto demand low
Just as subprime lending set the stage for the housing crisis that set off the economic downturn, easy credit played a major role in inflaming demand for high-priced sports-utility vehicles and other vehicles, auto manufacturers and retailers said... 12:01 am U.S. ET | Nov. 3
GMAC may need less of an infusion, Geithner says
GMAC Financial Services may not need as much funding as U.S. officials had projected in its layer of taxpayer-backed funding, U.S. Treasury Secretary Timothy Geithner said today. 12:31 pm U.S. ET | Oct. 29
GMAC negotiating for more Treasury help
GMAC Financial Services Inc. is talking with the U.S. Treasury Department about a possible additional cash infusion to the company, an Obama administration official confirmed on Tuesday night. 12:01 am U.S. ET | Oct. 28 | UPDATED: 10/28/09 11:04 a.m. ET
Auburn, Ind., auctioneer Dean Kruse has been ordered by a local court to pay more than $1.3 million to an Indiana bank, and a leasing company has asked a federal judge to repossess Kruse's 1985 Cessna jet, which had been insured at $3.5 million. 11:54 am U.S. ET | Nov. 19
General Motors Co. has “narrowed the field” to two possible candidates to replace CFO Ray Young and may make a decision by year end, Bloomberg News reported, citing two people close to the matter. The executives are both CFOs from outside the auto industry, Bloomberg reported. 12:17 pm U.S. ET | Nov. 18
• White House wants fast-track IPO for GM
GMAC aims to be lender of choice
Alvaro de Molina, CEO of GMAC Financial Services, has a big vision for transforming GMAC into a bank. 12:01 am U.S. ET | Nov. 16
Shift to GMAC leaves some Chrysler dealers in limbo
Swift Chrysler-Jeep-Dodge in Davis, Calif., was Chrysler's Dealer of the Year in the multistate western region in 2007. But the store is now in limbo for no reason other than GMAC Financial Services has replaced Chrysler Financial as the primary lender to Chrysler's dealers. 12:01 am U.S. ET | Nov. 16
