Dante Posted January 7, 2010 Share Posted January 7, 2010 Don't we get a say? Fug me! Sigh. !@#$ing lost cause. Stop the bleeding. Their product sucks as they get owned by the Japs, Euro's and Ford every year. http://www.washingtonpost.com/wp-dyn/conte...9123002049.html Link to comment Share on other sites More sharing options...
DC Tom Posted January 7, 2010 Share Posted January 7, 2010 Don't we get a say? Fug me! Sigh. !@#$ing lost cause. Stop the bleeding. Their product sucks as they get owned by the Japs, Euro's and Ford every year. http://www.washingtonpost.com/wp-dyn/conte...9123002049.html GMAC's a finance company, not a car company (and they've written more mortgages than car loans the past few years). GM hasn't even been the majority stakeholder in years - Cerberus Capital is (or was, until this latest buy-out) the majority holder. I mean, I get your point...but it would be stronger if you knew what you were talking about, don'tcha think? Link to comment Share on other sites More sharing options...
Dante Posted January 7, 2010 Author Share Posted January 7, 2010 GMAC's a finance company, not a car company (and they've written more mortgages than car loans the past few years). GM hasn't even been the majority stakeholder in years - Cerberus Capital is (or was, until this latest buy-out) the majority holder. I mean, I get your point...but it would be stronger if you knew what you were talking about, don'tcha think? I realize GMAC is the finance arm and to me that makes them a car company. Just a different division. Either way, we have no business funding them. Link to comment Share on other sites More sharing options...
GG Posted January 7, 2010 Share Posted January 7, 2010 I realize GMAC is the finance arm and to me that makes them a car company. Just a different division. Either way, we have no business funding them. IIRC, GMAC had more assets in home mortgages and other financing than it did in the car loan business. Link to comment Share on other sites More sharing options...
Magox Posted January 7, 2010 Share Posted January 7, 2010 I realize GMAC is the finance arm and to me that makes them a car company. Just a different division. Either way, we have no business funding them. DC Tom does have a point, you were referring to their "products", in other words vehicles, and they don't deal with the product line. GM owns less than 10% of the company, and the U.S government owns approximately 35%, but I agree with the premise of your argument, and it is very related with GM. The main reason why they bailed out GMAC as well was to support GM and it's financing possibilities. However, the government is already committed to this plan, there is no point in turning back, at this stage of the game they have to see if what they are doing is going to work. Link to comment Share on other sites More sharing options...
DC Tom Posted January 7, 2010 Share Posted January 7, 2010 I realize GMAC is the finance arm and to me that makes them a car company. Just a different division. Either way, we have no business funding them. GMAC is not the finance arm of GM, they were spun off from GM years ago and are a completely separate finance company. And like GG said, they're more heavily invested in mortgages (dollar-wise) than car loans. So again, while your point may have been valid, it's only becasue you accidentally stumbled into it. You understanding is still grossly flawed, enough that if you were anyone else I'd be calling you a moron. Link to comment Share on other sites More sharing options...
Chef Jim Posted January 7, 2010 Share Posted January 7, 2010 IIRC, GMAC had more assets in home mortgages and other financing than it did in the car loan business. Think DiTech. Link to comment Share on other sites More sharing options...
Chef Jim Posted January 7, 2010 Share Posted January 7, 2010 GMAC is not the finance arm of GM, they were spun off from GM years ago and are a completely separate finance company. And like GG said, they're more heavily invested in mortgages (dollar-wise) than car loans. So again, while your point may have been valid, it's only becasue you accidentally stumbled into it. You understanding is still grossly flawed, enough that if you were anyone else I'd be calling you a moron. Hey go easy on him. We had an earthquake this morning and it may have rattled his brains a bit. Link to comment Share on other sites More sharing options...
GG Posted January 7, 2010 Share Posted January 7, 2010 Think DiTech. I don't see those commercials anymore. I wonder what happened? Link to comment Share on other sites More sharing options...
Dante Posted January 7, 2010 Author Share Posted January 7, 2010 GMAC is not the finance arm of GM, they were spun off from GM years ago and are a completely separate finance company. And like GG said, they're more heavily invested in mortgages (dollar-wise) than car loans. So again, while your point may have been valid, it's only becasue you accidentally stumbled into it. You understanding is still grossly flawed, enough that if you were anyone else I'd be calling you a moron. I can admit my mistake. In my mind GMAC was still part of GM. Link to comment Share on other sites More sharing options...
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