A Look at the Growth of General Motors Acceptance Corporation

As a Principal of Wilmington Capital Securities/RBC, Derek Bryson Park, PhD, possesses more than 25 years of experience. Over the course of his career, Derek Bryson Park has served in leadership positions with a number of organizations, including Cohane Rafferty Securities/Lehman Brothers, where he was responsible for securing the 1998 sale of Wells Fargo Mortgage Bank to General Motors Acceptance Corporation (GMAC).

Through their respective captive finance companies, the nation's top automakers, including General Motors, have historically been among the leading nonbank providers of consumer credit in the United States. While these financing arms were largely created to facilitate the sale of the parent company's primary products and associated services, many diversified their offerings to include financial services outside of the auto industry. An example of this diversification can be found in GMAC, which was founded in 1919. 

The diversification of GMAC began in 1925, when the entity began offering auto-related insurance. However, one of the biggest changes in the company occurred decades later, in the mid-1980s, when GMAC entered the mortgage servicing business by forming GMAC Mortgage Corporation. 

Following the acquisition of Colonial Mortgage Service Company and Norwest Corporation's loan-servicing portfolio, GMAC Mortgage Corporation quickly became one of the largest mortgage servicers in the United States. GMAC Mortgage's growth continued through the 1990s, a decade that the company capped off with the acquisition of Better Homes and Gardens Real Estate Service and the purchase of Wells Fargo Mortgage Bank. 

GMAC Mortgage went on to acquire Ditech Funding Corp. and to form California mortgage lender CalDirect. In 2010, GMAC transformed into Ally Financial, which continues to provide home loans and a number of other financial services.

Sights and Artifacts at the Gibraltar Museum

Between 2013 and 2016, Derek Bryson Park, PhD, served as a managing director of Forefront Wealth Management, a money management firm based in New York, NY. Prior to his stint at Forefront, Park gained extensive experience working for Mahler and Emerson, Inc., and Lehman Brothers. Outside of work, Derek Bryson Park enjoys traveling abroad, and has been to more than 50 international destinations, including Gibraltar.

Located on the southern end of the Iberian Peninsula, Gibraltar is a small British overseas territory that covers an area of only 6.8 square kilometers. As a tourist destination, Gibraltar is known for its natural beauty as well as landmarks such as the Upper Rock Nature Reserve and St. Michael's Cave. In addition, Gibraltar houses historical treasures in the Gibraltar Museum, located on Bomb House Lane. 

The Gibraltar Museum reveals the island's long history, from prehistoric Gibraltar to the Great Siege of the 18th century. Significant artifacts include 14th-century Islamic baths and a 7th-century BCE Egyptian mummy found washed up on the island's bay in the 19th century.

Stop Credit Discrimination in Employment Act Prevents Credit Checks

Forefront Wealth Management managing director Derek Bryson Park, PhD, possesses more than three decades of experience in financial banking and state government sectors. Derek Bryson Park has also previously served out appointments by the Giuliani and Bloomberg Administrations as a commissioner for the New York City Commission on Human Rights (NYC Human Rights). NYC Human Rights operates a number of campaigns to protect the rights of New York City residents, including the Credit Check Law.

The campaign promotes the Stop Credit Discrimination in Employment Act, which prevents most NY employers from using credit scores as a factor in making employment decisions. It bars employers from checking the credit history of applicants and encourages individuals in the process of seeking employment to learn about their rights. Furthermore, the campaign provides access to employees, job seekers, and employers about their rights and responsibilities under the law. 

New York’s Stop Credit Discrimination in Employment Act went into effect on September 3, 2015 as a part of the New York City Human Rights Law (NYCHRL), which prohibits discrimination in employment, housing, and public accommodations. 

To learn more about the campaign, visit nyc.gov/site/cchr/media/credit-check-law.

Free Workshops through the New York City Commission on Human Rights

In 1999, Forefront Wealth Management managing director Derek Bryson Park, PhD, accepted an appointment by the Clinton Administration to serve as director of the Federal Home Loan Bank of New York. Outside of his professional obligations in the finance and government sectors, Derek Bryson Park, PhD, previously worked for the New York City Commission on Human Rights (NYC Human Rights), which offers a variety of community programs and services, such as free workshops in the New York, NY, area. 

Workshops hosted by the NYC Human Rights enable its staff to work closely with organizations across the state to promote awareness of the NYC Human Rights Law. The staff assists with free events and provides training that focuses on educating organization members and staff on their rights and obligations under the administrative code. Training sessions cover a wide range of human rights topics, including transgender awareness, cyberbullying, violence, and sexual harassment. Additionally, workshops explore the Fair Chance and Credit Check provisions of the law. 

NYC Human Rights also offers frequent training sessions on the Human Rights Law for employers, housing providers, business owners, and other individuals in a supervisory or service-providing position. Interested individuals must RSVP in advance in order to secure a place at a session.

Dale Carnegie’s Principles for Making People Like Each Other

With an MPA and a PhD in international and developmental administration, each of which he earned from New York University, Dr. Derek Bryson Park serves as the managing director of Forefront Wealth Management, LLC, in New York, NY. Outside of work, Dr. Derek Bryson Park enjoys reading and counts How to Win Friends and Influence People by Dale Carnegie among his favorite titles.

One of the principles Mr. Carnegie mentions in his book for teaching people how to get along better with one another is listening. Specifically, people should listen actively and offer constructive replies. Moreover, they should express genuine curiosity about what someone else has to say. This will increase their appeal to the speaker.

Mr. Carnegie also recommends smiling as a way to improve relations between people. Doing so not only compels others to do the same, but also instills a positive outlook among those doing the smiling.

Lastly, mentioning the other person’s name during conversations can improve relations. Doing so can make them more likely to agree with requests.

Zuckerberg Recommends Kissinger's World Order for Future Generations

An alumnus of New York University with an MPA and a PhD, Dr. Derek Bryson Park operates as the managing director of Forefront Wealth Management, LLC, in New York, NY. An avid reader in his leisure time, Dr. Derek Bryson Park counts Dale Carnegie’s How to Win Friends and Influence People among his favorite books and considers Dr. Henry Kissinger’s World Order a must-read.

On New Year’s 2015, Mark Zuckerberg promised to read a globally influential book every two weeks and share it with his followers on Facebook. One of those books is World Order, wherein Dr. Kissinger recounts his experiences as a statesman who advised powerful people and contributed to the execution of foreign policy all over the world.

According to Mr. Zuckerberg, the book tackles foreign relations in a way that helps people understand how they can connect with people from other countries. He thinks it is an important piece of literature that will help everyone mold the world into a place that will be better for future generations.

Given the state of global affairs at the time, the book’s publication in September 2015 was auspicious. Moreover, Michiko Kakutani of The New York Times has suggested that readers may develop a better understanding of current U.S. and world issues via the author’s unique, informed perspective.