Now that both GM and GMAC have received aid from the TARP fund set up by congress GM and GMAC are planning on some good financing options. GMAC said it would relax credit requirements to allow loans to 80 percent of U.S. consumers. In mid-October, GMAC increased minimum credit requirements to a level that shut [...]

It appears as though both GM and GMAC are getting access to the TARP fund created by congress: General Motors shares are up after its GMAC finance affiliate was given approval for bank holding status, thus achieving eligibility for government loans.  GMAC is a critical part of General Motors, as it finances three-fourths of the [...]

Reuters is reporting that Cerberus Capitol Management is not looking to sell it’s stake in Chrysler.  Rather it would like to buy up a portion (or all) of whomever they make their deal with to combine the two automakers. “Cerberus executives have maintained repeatedly that they believe in the industry. They expect to be there [...]