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What (who) is GMAC - definition
GMAC
O GMAC é o braço financeiro da General Motors, pertencendo tanto à GM e quanto ao fundo de investimentos Cerberus Capital Management, que controla a Chrysler. Até 2008, tentava se tornar um banco comercial com a ajuda do FED.
Examples of use of GMAC
1. It creates a stronger GMAC while preserving the mutually beneficial relationship between GM and GMAC," Wagoner said in a statement.
2. The automaker and GMAC also agreed to unwind a number of exclusive agreements, freeing GMAC to offer financing on equal terms to customers of other car companies.
3. S&P has long rated GM and GMAC the same because of the control GM has over GMAC and because their businesses are intertwined.
4. The investment in GMAC, by contrast, has already been made.
5. Becoming a bank holding company would both qualify GMAC to access the government‘s bank rescue funds and support GMAC loans to car buyers and GM dealerships.