GMAC

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Feds Aim to Push Bailout Beyond Traditional Banks

Finance-related firms working with Treasury, which also has eye on Obama transition

(Newser) - After taking ownership stakes in banks totaling $250 billion, the Treasury is preparing to broaden rescue efforts to include companies outside the banking sector, the Washington Post reports. Hundreds of billions of the $700 billion bailout package could go to relieve some institutions that, though not chartered as banks, borrow...

6K Nabbed in GMAT Cheating Scandal
6K Nabbed in GMAT Cheating Scandal

6K Nabbed in GMAT Cheating Scandal

Biz schools, test maker go after students who used test-prep site

(Newser) - More than 6,000 students are embroiled in a cheating scandal that could cost them their place at one of the nation’s business schools, BusinessWeek reports. The prospective MBA students were members of ScoreTop.com, a test-prep site that featured current GMAT questions. Test publisher GMAC sued the company,...

Soured Deals Dog Brash Cerberus
Soured Deals Dog Brash Cerberus

Soured Deals Dog Brash Cerberus

Chrysler, GMAC struggles point to problems for private equity giant

(Newser) - The continued struggles of Chrysler and GMAC—two of Cerberus Capital Management’s largest and most recognized purchases—have observers wondering if the private equity darling has lost its Midas touch, reports Reuters. S&P has downgraded GMAC’s credit rating, Chrysler's January sales slipped 12% even as the company...

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