GMAC Reviews
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Nov 12, 2009
2009-11-12 08:03 PST
Details
Pros
GMAC has managed to attain banking status. This may position it to survive in the auto finance world going forward.
Cons
The new management has brought in over 100 former employees of Bank of America and is in the process of migrating the corporate headquarters to Charlotte, NC. Legacy GMAC employees feel like their experience which formerly was an asset is now a liability. There is very little respect by the new management and employees for those who actually know how GMAC's business should work. The new employees seem to be set loose to create their own jobs which frequently overlap or conflict with the jobs of others.
There is no clearly articulated strategy of GMAC is going to thrive in the future.
As of October 2009, morale (at least in Detroit) was miserable.Advice to Senior Management
A. Figure out what your strategy really is -- "being a bank" is not a strategy
B. Rein in the new ex-BofA employees
C. Evaluate if you really think that the legacy employees have nothing to offer.
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IT Standards and Methods Architect in Detroit, MI:
“Huge Potential for success and growth!”
Oct 28, 2009
1 comment
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IT Manager:
“Great place to work--if you can handle the uncertainty”
Oct 23, 2009
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Analyst:
“Paid well for what little you do”
Aug 18, 2009
1 found helpful | 1 comment
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Senior Financial Analyst in Detroit, MI:
“Great so far”
Jun 21, 2009
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Analyst in Detroit, MI:
“Don't believe the hype, this company is sinking fast.”
Mar 8, 2009
2 found helpful | 1 comment
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Systems Manager:
“GMAC is well positioned for an economic turn-around.”
Feb 10, 2009
3 comments
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Financial Analyst in Orland Park, IL:
“A good launching-pad for a promising career.”
Jan 17, 2009
1 found helpful
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Portfolio Manager in Saint Louis, MO:
“Still some tread left on the tires...”
Jan 4, 2009
1 found helpful
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Portfolio Manager in Pittsburgh, PA:
“GMAC Review”
Jul 22, 2008
1 found helpful
