The Artist Formerly Known As GMAC Comes Back To Mami – Partially

Bailed-out GM agreed to pay about $4.2 billion for the European and Latin American operations of likewise bailed-out Ally Financial, formerly known as GMAC. Ally, 74 percent owned by the U.S. government, did put the international operations up for sale to raise money for the repayment of bailout funds. The money now comes from GM. The deal is expected to add $300 million to $400 million to GM Financial's annual earnings before taxes. from The Truth About Cars http://www.thetruthaboutcars.com

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