GMAC's Board of Directors, independent of any federal influence, forced the resignation of GMAC Financial Services' CEO Alvaro de Molina on Monday according to a report in the Wall Street Journal. He was replaced by Michael Carpenter, who told Bloomberg in an interview that Rescap "has been a drag on the company and we need to find a solution." What that solution may be remains to be seen...

Comments: Be the first to add a comment

add a comment | go to forum thread