What it means for the bid, in order for GM to accomplish its goals, is that KKR needs to find another bank.

GMAC bondholders would be delighted to see a transaction of some sort take place and ecstatic if it were investment grade.

GMAC bondholders would be delighted to see a transaction of some sort take place.

Most of their operating profit comes from the U.S.. Everyone's been hurt by rising oil and gas, especially smaller and mid-sized pickups.

Better to have York as an informed insider helping with the turnaround effort than to have him pressuring from the outside, despite the amicable relationship. He's solid, experienced and may provide some spark to the process.

GM's numbers are surprisingly bad.