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Guess Who the Majority Owner of GMAC is Now… It’s YOU

Say uncle!

Uncle SamSince your taxpayer money grows on trees, the Obama Administration gave another round of funding to the tune of $3.8 Billion to home and auto finance company GMAC, giving the government a 56% ownership, making you the newest majority owner of GMAC.

This brings the government cash infusion into GMAC up to $16.3 Billion but who’s counting?

How can GMAC get out of this crisis, outside of having to ask Uncle Sam for more money? Should they freeze executive pay, should they sell off their mortgage servicing division (which would rake in a huge load) or should they stay put as they’re on the right course for recovery?

Now that you’re the majority owner, what do you think GMAC should do to steer this giant ship?

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Lani is the COO and News Director at The American Genius, has co-authored a book, co-founded BASHH, Austin Digital Jobs, Remote Digital Jobs, and is a seasoned business writer and editorialist with a penchant for the irreverent.

10 Comments

10 Comments

  1. Jim Duncan

    January 1, 2010 at 10:21 am

    I want my dividends.

  2. Tony Sena

    January 2, 2010 at 12:34 am

    “Should they freeze executive pay, should they sell off their mortgage servicing division”

    They should cut executive’s pay as I am sure most of all the executives are making low to mid six figures and sell their mortgage servicing division!

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