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2007 Archives
Dec 20, 2007
ResCap Announces Final Results for its Cash Tender Offer for up to $750 Million Aggregate Principal Amount of its Debt Securities
  MINNEAPOLIS (Dec. 20, 2007) -- Residential Capital, LLC (ResCap) today announced the final results for its cash tender offer for up to $750 million aggregate principal amount of its debt...More
Dec 19, 2007
GMAC Commercial Finance Announces Launch of Pre-shipment Cover
Offered as an Extension to Import Factoring Services
   NEW YORK (Dec. 19, 2007) – GMAC Commercial Finance (GMAC CF) announced today its pre-shipment cover is now available to overseas lenders providing supply chain finance. The pre-shipment...More
Dec 13, 2007
ResCap Announces an Extension of the Early Tender Time of its Cash Tender Offer for up to $750 Million Aggregate Principal Amount of its Debt Securities
MINNEAPOLIS (Dec. 13, 2007) -- Residential Capital, LLC (ResCap) today announced an extension of the early tender time for its previously announced cash tender offer for up to $750 million...More
Dec 11, 2007
Fiscal Fitness for the New Year: GMAC Insurance Reveals the Top Mistakes People Make When Buying Auto Insurance
   ST LOUIS (December 11, 2007) – New Year's resolutions are right around the corner, and as many people review their financial goals, GMAC Insurance suggests it's also a great time to give...More
Dec 6, 2007
ResCap Announces Extension of the Early Tender Time of its Cash Tender Offer for Up to $750 Million Aggregate Principal Amount of its Debt Securities
MINNEAPOLIS (Dec. 6, 2007)  -- Residential Capital, LLC (ResCap) today announced an extension of the early tender time for its previously announced cash tender offer for up to $750 million...More
Dec 5, 2007
GMAC Financial Services Names Chief Risk Officer
Company Also Names New Treasurer
NEW YORK (Dec. 5, 2007) -- GMAC Financial Services today announced that Samuel Ramsey has been appointed to the newly created position of chief risk officer, effective immediately. In this role,...More
Dec 4, 2007
GMAC Commercial Finance Appoints New Executive Vice President of Commercial Services Division; Expands Operations in Greensboro, N.C.
   NEW YORK (Dec. 4, 2007) – GMAC Commercial Finance (GMAC CF) announced today the appointment of Don Morrison as executive vice president, corporate development for the Commercial Services...More
Nov 21, 2007
ResCap Commences Cash Tender Offer for $750 Million Aggregate Principal Amount of its Outstanding Debt Securities
MINNEAPOLIS (Nov. 21, 2007) -- Residential Capital, LLC (ResCap) today announced that it has commenced a cash tender offer for its debt securities listed in the table below (the notes). ResCap is...More
Nov 13, 2007
GMAC Financial Services Announces Key Executive Appointments
- Khattri to lead corporate strategy
NEW YORK (Nov. 13, 2007) -- GMAC Financial Services today announced that Sanjiv Khattri, chief financial officer, will be named to a new position as executive vice president of Corporate...More
Nov 13, 2007
Holiday Travel: Share Simple Steps to Prevent Dangerous Driving, Help Save Five Lives on ‘Drive Safer Sunday’
Road Safe America and GMAC Insurance Encourage Drivers to Buckle Up, Slow Down and Stay Alert the Sunday After Thanksgiving
  ATLANTA, GA. and ST. LOUIS, MO. (Nov. 13, 2007) – This holiday season, Road Safe America and GMAC Insurance urge people to help Save Five Lives on Drive Safer Sunday, a national observance...More
Nov 8, 2007
Universal Warranty Web-Based Dealer Application Streamlines Vehicle Service Contract Sales
OMAHA, Neb. (Nov. 8, 2007) -- Universal Warranty Corporation (UWC), a subsidiary of GMAC Insurance, today announced the introduction of a web- based solution, Sales Driver, to its automotive...More
Nov 7, 2007
GMAC Insurance Partners with Non-Profit Road Safe America to Educate Drivers, Make Highways Safer
Leading Auto Insurer Enters Long-term Relationship with Road Safe America, Lending Significant Financial and Operational Support
   ST. LOUIS, MO. (Nov. 7, 2007) – Today, GMAC Insurance announced a strategic, long-term partnership with Road Safe America, a non-profit organization dedicated to making highways safer by...More
Nov 1, 2007
GMAC Financial Services Names Chief Marketing Officer
  DETROIT (Nov. 1, 2007) – GMAC Financial Services today announced that A. Jay Meyerson has been named chief marketing officer. In this newly created position, Meyerson will lead a global...More
Nov 1, 2007
GMAC Financial Services Reports Preliminary Third Quarter 2007 Financial Results
GMAC consolidated net loss of $1.6 billion Results include $455 million goodwill impairment at ResCap Loss driven by disruptions in mortgage finance and global capital markets Auto finance and...More
Oct 29, 2007
GMAC Financial Services Schedules Release of 2007 Third Quarter Financial Results
NEW YORK, Oct. 29 /PRNewswire/ -- GMAC Financial Services has scheduled the release of its 2007 third quarter financial results for Thurs., Nov. 1, 2007. The press release including financial...More
Oct 24, 2007
Global Energy Companies Sending Employees On International Assignments at Record Levels, According to Survey by GMAC Global Relocation Services
Soaring Energy Demand is Creating Unprecedented Need for Expatriate Talent
  Oak Brook, Ill. – Leading global energy companies show no signs of slowing down as they aggressively expand their operations and dispatch record numbers of employees to assignments throughout...More
Oct 17, 2007
GMAC Financial Services and ResCap Announce Restructuring of Mortgage Operations
Fourth-Quarter Restructuring Charge Expected
MINNEAPOLIS – GMAC Financial Services today announced it is restructuring its mortgage operations, Residential Capital, LLC (ResCap), as severe weakness in the housing market and mortgage...More
Oct 16, 2007
GMAC Honored for Economic Development in Detroit
“100 Black Men
  DETROIT – GMAC Financial Services and its SmartEdge financial education program received the Excellence Award for Economic Development from The 100 Black Men of Greater Detroit at the...More
Oct 10, 2007
GMAC Financial Services Purchases Remaining Equity Stake in GMAC India
Strategic investment supports commitment to growth market
  CHENNAI, India – GMAC Financial Services today announced it has purchased the 25.1 percent equity stake in GMAC Financial Services India Ltd. from Nucleus Software Exports Limited, bringing...More
Oct 2, 2007
GMAC Insurance Introduces SmartValet Service to Lend a Helping Hand in Accident Aftermath
Leading Auto Insurer Offers Roadside Pick-up, Quality Repairs and Drop-off of Repaired Vehicle for Customers
  ST. LOUIS, MO. (Oct. 2, 2007) – Today, GMAC Insurance announced SmartValetsm¹, a service designed to take care of all the transportation details when a customer is involved in an automobile...More
Sep 20, 2007
GMAC Financial Services Names Al de Molina to Newly Created Position of Chief Operating Officer
  NEW YORK – GMAC Financial Services today announced that Alvaro G. de Molina has been named GMAC chief operating officer, effective immediately. In this newly created role, de Molina will be...More
Sep 18, 2007
GMAC Global Relocation Services Ranks Highest in Transferee Satisfaction with Corporate Relocation Services, According to J.D. Power and Associates
In An Independent Study of Nearly 1,000 Transferees, GMAC Global Relocation Services Ranks Highest Out of Seven Relocation Service Providers
  Oak Brook, Ill. – Based upon responses from 986 transferees over an 18-month period, GMAC Global Relocation Services (http://www.GMACGlobalRelocation.com) ranks highest in satisfying...More
Sep 13, 2007
GMAC-SAIC Celebrates Third Anniversary
Announces Growth in Retail Credit Business of 125 percent
  SHANGHAI, China – GMAC-SAIC Automotive Finance Co., Ltd. (GMAC-SAIC), which is celebrating the third anniversary of its founding, announced today that its retail credit business grew 125...More
Sep 12, 2007
GMAC Insurance Diversifies Offerings for Auto Dealers and Retail Customers
SOUTHFIELD, Mich. – GMAC Insurance today announced two new products available to both automotive dealers and retail customers. The two products, Guaranteed Automotive Protection (GAP) Care...More
Sep 12, 2007
GMAC Insurance, Independent Agents Donate $33,500 to Charities Across the U.S.
Contributions Awarded in the GMAC Insurance Agency Community Challenge
  ST. LOUIS -- Today, GMAC Insurance announced that it will donate a total of $33,500 to 19 charities across the U.S. The contributions will be awarded as prizes in the GMAC Insurance Agency...More
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