In a presentation for analysts and investors, GMAC Financial Services chief executive officer Michael Carpenter has acknowledged the company expects to report a US$5bn net loss in Q4 2009. This Q4 loss stems in part from a previously disclosed US$3.8bn pre-tax charge tied to revaluing “higher-risk mortgage loans.” A loss Subscribe to Automotive World to … Continued
In a presentation for analysts and investors, GMAC Financial Services chief executive officer Michael Carpenter has acknowledged the company expects to report a US$5bn net loss in Q4 2009. This Q4 loss stems in part from a previously disclosed US$3.8bn pre-tax charge tied to revaluing “higher-risk mortgage loans.” A loss
Subscribe to Automotive World to continue reading
Sign up now and gain unlimited access to our news, analysis, data, and research
Subscribe
Already a member?
https://www.automotiveworld.com/articles/80215-us-gmac-to-record-q4-loss-of-us-5bn/
Join our LinkedIn Group
Let us help you understand the future of mobility