By on November 12, 2013

Renaissance Center

Best known for underwriting public radio programming such as “All Things Considered” and “Marketplace,” Ally Financial — formerly known as GMAC until the subprime market collapse kicked off the Great Recession — has decided to go for the gold in the used car and leasing markets, citing “irrational” pricing found in the superprime mortgage loan sector for its move from the latter toward the former.

(Read More…)

By on July 18, 2013

ss_homepage

Ally Financial, what used to be known as the General Motors Acceptance Corporation, GMAC, before GM’s bankruptcy and bailout, itself received over $17 billion from the U.S. Treasury during the bailouts of 2009. On Tuesday the company said that it was looking into options on how to repay that money and comply with the Federal Reserves’ latest stress tests for financial institutions. Ally is 74% owned by Treasury and it is trying to buy back some taxpayer-owned stock and reach an agreement with the Fed on its capital structure (known as the “Comprehensive Capital Analysis and Review”) so it can offer stock in an IPO. Ally had originally planned on a 2011 IPO but having to resolve claims against its bankrupt Residential Capital mortgage unit delayed that. ResCap hopes to be out of bankruptcy by 2014. (Read More…)

Recent Comments

  • jmo2: A lot of GMs issues can be traced back to an excessive focus on market share.
  • la834: This is basically Elon realizing that Tesla may need to advertise as increasingly numerous, increasingly...
  • Ol Shel: Bah! Kids these days! They don’t even like being jerked around by sleazy car dealers! What is this...
  • dal20402: I think he would rather be making deliveries to his buddy Vladimir Vladimirovich in Moscow.
  • mor2bz: I wish I could agree with you but I do not. Musk claims that incessant badmouthing of his company would be...

New Car Research

Get a Free Dealer Quote

Who We Are

  • Adam Tonge
  • Bozi Tatarevic
  • Corey Lewis
  • Jo Borras
  • Mark Baruth
  • Ronnie Schreiber