GMAC's ResCap mortgage unit to cut 3,000 jobs (Washington Post)
Disadvantages Obsolescence Danger of fire and theft Initial working capital investment is very large Losses due to price fluctuation
GMAC's ResCap mortgage unit to cut 3,000 jobs (Washington Post)
NEW YORK (Reuters) - Residential Capital LLC, the mortgage unit of GMAC Financial Services, said on Wednesday it will eliminate 3,000 jobs, or 25 percent of its work force, to cope with the U.S. housing downturn.
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India, China, West: global finance, leadership, politics, jobs, new world order (cmi valparaÃso)
Why are India and China leaping forward at the same time? What makes a global leader in a new century? what is the next in global finance, trade, wealth, labor, investment, politics, entrepreneurship map? Get great insights from a timely book.
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competing arts of India vs China: finance, outsourcing, jobs, politics, law, technology (cmi santiago)
Unexpected competition is between China and India. Are the Chinese and Indians winning over global finance, trade, jobs, wealth, outsourcing, investment, technology, politics? Get inside stories from a Chinese consultant.
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India against China: global leadership, finance, jobs, outsourcing, banking, commerce, law (cmi santiago)
Which nation is to be the next global leader, China, India, or America? What is the next stage world commerce, trade, jobs, wealth, finance, politics, competition, outsourcing, technology? Talk to leading strategist George Zhibin Gu.
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Soft Spot for the South Bronx (New York Times)
Since he fell in love with the Bronx during a visit in 2005, Venezuelan President Hugo Chávez has been funneling millions of dollars to the area through Citgo Petroleum.
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Morgan Stanley to cut 300 jobs amid slowdown (Washington Post)
NEW YORK (Reuters) - Morgan Stanley (MS.N) is cutting about 300 jobs in its institutional securities division, mostly in mortgages, fixed-income trading and other businesses hardest hit by the recent market turmoil, a person familiar with the situation said on Wednesday.
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Credit crunch tops agenda at G7 finance meeting (Seattle Times)
Curbing fallout in the global economy from a credit crisis that has panicked investors worldwide is the dominant topic as finance officials...
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ResCap to cut 460 jobs in Twin Cities (Minneapolis-St. Paul Star Tribune)
In its third round of layoffs this year linked to a nationwide financial pounding in mortgage markets, Residential Capital Corp. on Wednesday announced plans to shed nearly 30 percent of its Twin Cities-area workforce. The Bloomington-based real estate finance company will eliminate 460 jobs locally in a workforce reduction that will affect 3,000 of its 12,000 workers worldwide. Once the cuts ...
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GMAC to slash 3,000 jobs from struggling mortgage unit (TurkishPress.com)
NEW YORK - GMAC Financial Services said Wednesday it was restructuring its mortgage unit, Residential Capital (ResCap) and cutting 3,000 jobs, citing "severe weakness" in the credit and housing markets.
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Hillary's Chinatown fund-raiser draws Edwards' criticism (New York Daily News)
Hillary Clinton raised big bucks at a Chinatown fund-raiser from donors who listed seemingly modest-paying jobs on contributor forms, prompting an angry exchange between John Edwards' campaign and Team Clinton.
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GMAC's ResCap mortgage unit to cut 3,000 jobs (Washington Post)
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