GM Sheds Stake in Mortgage Company - 2006-03-23
General Motors has divested a 78 percent stake in GMAC Commercial Holding Corp., its commercial mortgage company, to a group of investors led by affiliates of Kohlberg Kravis Roberts & Co. (KKR), Five Mile Capital Partners, LLC, and Goldman Sachs Capital Partners for $8.8 billion. GM sold its mortgage company in an attempt to raise funds against ever increasing multi-billion dollar losses.
Read the full story at AXcess News

U.S. Economy: Sales of Previously Owned Homes Unexpectedly Rise - 2006-03-23
Mild winter weather unexpectedly energized the largest increase in U.S. home sales in two years last month, signaling the predicted slowing in housing will be modest.
Sales of previously owned homes climbed 5.2 percent during the month to an annual rate of 6.91 million, compared with a revised 6.57 million a month earlier, the National Association of Realtors said in Washington.
Read the full story at Bloomberg