Aug11
If you've been sitting on the sidelines waiting to pick up a new Chrysler product, now may be the time to stand up and bring your wallet down to the nearest dealership. Chrysler has fired up a new incentive program that will leave a bit of money in your bank account for the first three months of your new-car ownership period. It's called (imaginatively enough) No Payments for 90 Days,
Read More...
Aug02
Ally Financial Inc.'s second-quarter profit declined by 80 percent as the lender's mortgage operations lost money, versus a year-earlier profit.
Ally -- the former GMAC business that specializes in dealer floorplan and consumer loans -- reported today net income of $113 million, down from $565 million a year ago.
The financier's automotive lending operations generated pre-tax income of $703 million, compared with $795 million during the same quarter last year. Of that, North...
Jan04
Ally Financial Inc., the former General Motors lending unit, moved closer to regaining its independence as the U.S. government converted $5.5 billion of preferred stock into common shares.
The swap involves almost half the Treasury Department's preferred stock and boosts the U.S. taxpayers' stake to 74 percent of Ally's common shares from 56.3 percent, according to a department statement Thursday. The move, along with a planned sale of some trust preferred securities held by the...