GMAC may not be owned by GM but they are still in trouble, asking for bailout monies and may affect GM's survival. From what we were told this AM by GMAC Insurance, GMAC Insurance is part of GMAC Financial Services LLC. They (GMAC Insurance) did not have any further information on the GMAC Financial Services LLC issue mentioned in the AP story published this AM (copied below).
I think we will be looking for another insurance provider ASAP. We have our motor home and other vehicles insured with GMAC Insurance.
copied info: ----------------------------
Still not clear if GMAC cleared hurdle for bailout
Saturday, December 27, 2008 9:40 AM EST
The Associated Press
BY KIMBERLY S. JOHNSON AP Auto Writer
GRAND BLANC, Mich. (AP) — The financing arm of General Motors Corp. still wouldn't say on Saturday if it had met a midnight deadline to clear a final hurdle in its bid to become a bank holding company and gain access billions in federal bank bailout money.
The rest of the story HERE
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