Topic: GMAC LLC
Pay czar limits exec pay at still-struggling GMAC
AP News
Pay czar restrains top salaries at GMAC as auto finance giant loses money, relies on bailoutThe Obama administration's pay czar is limiting 2010 compensation for top executives at GMAC Inc. because the auto finance giant continues to lose money and can't yet repay its $16.3 billion taxpayer ...
GMAC CEO will receive no cash salary for 2010
AP News
After lucrative 2009, GMAC CEO agrees to take no cash salary for 2010 in deal with pay czarThe CEO of bailed-out auto finance giant GMAC Inc. will receive no cash salary for 2010 and will be compensated in restricted stock, under a deal approved by Obama administration pay czar Kenneth ...
Watchdog: GMAC bailout could cost taxpayers $6.3B
AP News
Watchdog says Treasury lacks exit plan from GMAC bailout, taxpayers could lose $6.3 billionThe Treasury Department sank billions into auto finance giant GMAC Inc. without an exit strategy or proof the company was viable — a decision that could cost taxpayers $6.3 billion, a new watchdog report says. The ...
U.S. bailout watchdog criticizes Treasury over GMAC
Reuters US Online Report Business News
WASHINGTON (Reuters) - The U.S. Treasury's decision against a bankruptcy restructuring for GMAC may have increased taxpayer bailout costs for the auto finance company and made it less viable, an oversight group said on Thursday. The Congressional Oversight Panel, in a new monthly report, said despite three separate bailouts ...
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