GMAC Posts Quarterly Profit, Plans to Change Name to Ally

From Bloomberg via BusinessWeek

GMAC Inc., the auto and home lender that lost more than $10 billion last year, posted a quarterly profit as U.S. car sales recovered and said it plans to adopt Ally Financial Inc. as its new name.

Ally Bank's marketing campaign must have worked well if the parent is going to adopt Ally's name. More details are at GMAC's press release.