- The last rating action for the Master Servicer was on September 24, 2008, when the SQ rating was downgraded to SQ2- and left on review for possible downgrade. Residential Capital, LLC, which houses the GMAC RFC master servicing operations, is a wholly owned subsidiary of GMAC LLC.
- The rating actions reflect the increasingly difficult market conditions that continue to place financial stress on the master servicing operations of GMAC RFC. Due to the significant financial pressure that exists, there is concern that going forward GMAC will not have the financial wherewithal to support and continue to invest in ResCap's servicing operations.

Other headlines for [GM]

• 12/30/1899 00:00am
  (UK) Dec car registrations down 21% y/y to 108.7K units - SMMT- Agency notes that car drop was less than expected - FY car registrations at 2.13M v 2.40M y/y - Note: SMMT is Society of Motor more...
  
• GM 12/30/1899 00:00am
  General Motors Corp Spokesman Greg Martin: Government loans and GMAC bailout may be sufficient, covering costs for the current worst-case scenario projections- Note: US gov has promised $13.4B from GM and $6B for GMAC
  
• GM 12/30/1899 00:00am
  General Motors Corp To cancel the Pontiac G8 sport truck launch - Automotive News- The vehicle was expected to make its debut in the fall of 2009. - GM is currently reviewing its product line, which involves the more...
  
• GM 12/30/1899 00:00am
  General Motors Corp US appeals court affirms ruling in favor of GM, Onstar, and Verizon Wireless in patent case brought by VEHICLE IP, LLC over patents related to mobile navigation systems- appeals court says it affirms more...
  
• RNO.FR 12/30/1899 00:00am
  Renault SA COO Pelata: Expects 2009 European car demand to decline 20-25% compared to 2007- Co has met its inventory goal for 2008 and would continue to reduce stocks in 2009. - Will continue in pograms to more...
  

Industrials sector headlines

• IPI Today 04:15pm
  Intrepid Potash Reports on Regulatory Developments Regarding its HB Solar Solution Mine; No potash volume hit-Company reports the Bureau of Land Management (BLM) has determined that an Environmental Impact Statement more...
  
• SPEC Today 04:00pm
  Spectrum Control Inc Reports Q4 $0.20 v $0.19e, R $33.8 v $33.9Me- Guides Q1 EPS $0.18-0.20 v $0.19e, R $33-34.5M v $35Me - Q4 Gross Margins 27.3% v 25.2% y/y - Co states "total sales order backlog is over $69M, up more...
  
• WDFC Today 04:00pm
  WD-40 Co Reports Q1 $0.46 v $0.41e, R $83.6M v $82.4Me; Cuts Q2 outlook- Guides FY09 $1.60-1.75 v $1.77e, R$ 305-315M v $329.5Me - Guides Q2 $0.23-0.28 v $0.48e, R $69-71M v $82.2Me
  
• NOC Today 03:01pm
  Northrop Grumman Corp Reorganizing cetain business- These actions, effective immediately, include streamlining its organizational structure, reducing the number of sectors from seven to five. The five sectors will be more...
  
• JBLU Today 02:07pm
  JetBlue Airways Corp Reports Dec Load Factor 79.4% v 76.8% y/y- RPMs -1.8% y/y - ASMs -5.1% y/y