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Crumbling Housing Market Threatens GMAC Unit’s Survival (New York Times) GMAC , the finance company owned by General Motors and buyout firm Cerberus Capital Management , lost $2.52 billion in the third quarter, hurt by the housing slump and vehicle lease write-downs, and said Wednesday that its mortgage unit, one of the nation’s largest home loan providers, may not survive.
- www.alacrastore.com
GMAC: Fate Still Intertwined with GM, Updated Potential Bank ... - The Alacra Store (subscription) GMAC : Fate Still Intertwined with GM, Updated Potential Bank ... The Alacra Store (subscription) - Nov 11, 2008 As GMAC seeks Bank Holding Company status, its fate still remains intertwined with 49% owner GM, which is also seeking government support. ...
- www.independent.co.uk
Market Report: M&S and Next hit in bad day for high street - Independent Market Report: M&S and Next hit in bad day for high street Independent, UK - 12 hours ago A more bearish Credit Suisse downgraded its target share price for M&S by 17 per cent to 175p from 210p. CS said its forecast already incorporates a 50 per ...
- www.baltimoresun.com
CEG credit line is reduced, delayed (Baltimore Sun) A $2 billion line of credit that Constellation Energy hoped would shore up its liquidity has been reduced to $1.25 billion at the most and might not be available until Nov. 26, the company said late yesterday. The cash-strapped Baltimore-based energy giant planned to close on the $2 billion deal no later than yesterday with RBS Securities and UBS Loan Finance. Now it says it expects to receive ...
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