GM to sell GMAC

GM finally did it. They finally sold the one, single, profitable piece of their business. GMAC was the only entity at GM that made a profit last year – and even with GMAC being profitable, GM as a whole lost $10 billion. That’s billion with a “B“. So what does GM do? They sell a 51%, controlling stake for cash. Sigh. Mortgage your future for some $$. Maybe they should have talked with the Red Sox first. Via Yahoo News.

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