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  • Losses May Sink GMAC's Residential Lending Unit

    General Motors Corp. (GM) had another bad day on Tuesday as its partially owned subsidiary GMAC Financial Services announced a major loss for the third quarter. GMAC is co-owned by GM and Cerberus Capital Management, a private-equity firm. While its original role was to finance the purchase of General...
    Posted to MND NewsWire (Weblog) by Jann Swanson on Wed, Nov 5 2008
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