5.12.2010

GM May Buy Back GMAC



As General Motors claws its way back to solvency, it's remembered the good old days when a chunk of the money that literally flowed through its hallways came from its captive financing arm, the General Motors Acceptance Corporation (GMAC). So it's thinking about buying it back.

But it's complicated. For one thing, the new owners re-named it two days ago:



For another, the US government owns a chunk of both GM and Ally, oversaw the divestiture, and would have to approve the re-marriage.

For another, most of Chrysler's in-house financing comes through GMAC...er...Ally.

Like we said...it's complicated. As most potential gigabuck enterprises are. The Detroit News has the details.

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