GM May Buy Back GMAC

As General Motors claws its way back to solvency, it's remembered the good old days when a chunk of the money that literally flowed through its hallways came from its captive financing arm, the General Motors Acceptance Corporation (GMAC). So it's thinking about buying it back.

But it's complicated. For one thing, the new owners re-named it two days ago:

For another, the US government owns a chunk of both GM and Ally, oversaw the divestiture, and would have to approve the re-marriage.

For another, most of Chrysler's in-house financing comes through GMAC...er...Ally.

Like we said...it's complicated. As most potential gigabuck enterprises are. The Detroit News has the details.

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GM To Repay Loans Early

General Motors is expected to announce tomorrow that it is repaying $5.8 billion in loans to the U.S. and Canadian governments early. The deadline is in June.

This could pave the way to an Inital Public Offering (IPO) of stock in the "new" GM and the U.S. government getting out of the car business.

Full story at The Detroit Free Press.

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GM Supports Mandatory "Black Boxes" In All Vehicles

When the government owns a majority stake in General Motors, you kinda have to expect this stuff:

GM says it's in favor of legislation making "Black Box" event data recorders mandatory in all cars.

Full story at The Detroit News.

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You Own GM; Will You Drive GM?

David Lazarus of the Los Angeles Times asks the question: Now that we (U.S. taxpayers) now own 60% of General Motors, shouldn't we be driving GM cars? What message does it send if we don't? His column and the answers he gets from Southern California drivers, here.

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