socialmedian: GMAC loses $767 million in quarter

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GMAC loses $767 million in quarter

Source: Wall Street Journal

Nov 04, 2009

Summary

NEW YORK (MarketWatch) -- GMAC Financial Services on Wednesday reported a third-quarter loss of $767 million, compared to a net loss of $2.5 billion in the year-ago third quarter. GMAC's loss from continuing operations was $671 million. "We continue to work through solutions for certain legacy assets and that is still weighing on GMAC's financial performance," said GMAC Chief Executive Officer Alvaro de Molina.

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