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Monday
Nov 17th
Hardworking arrow News arrow Business arrow Business arrow GMAC posts loss, hurt by mortgage unit (Reuters)
GMAC posts loss, hurt by mortgage unit (Reuters)
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GMAC President William Muir attends a news conference in Shanghai, in this August 18, 2004 file photo. General Motors Corp's former finance arm GMAC on Wednesday swung to a first-quarter loss, citing continued pressure in the mortgage market. (China Photos/Reuters)Reuters - General Motors Corp.'s former finance arm, GMAC, posted a first-quarter loss on Wednesday as pressure on the U.S. mortgage market forced the company to take charges at its housing finance unit.



Read more at: http://us.rd.yahoo.com/dailynews/rss/personalfinance/*http://news.yahoo.com/s/nm/20070502/bs_nm/gmac_results_dc.
 
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