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8. GMAC
Fortune 500 rank: 78
2007 loss: $2.33 billion

Out of the frying pan and into the fire: Freed from troubled GM in 2006 by Cerberus, which bought a 51% stake, the consumer-finance company ran into the buzzsaw of the real-estate market in 2007.

Its housing arm Residential Capital lost $4.3 billion last year as subprime loan defaults rose, mortgage-backed securities lost value and the cost of borrowing increased. The unit laid off 5,000 workers in 2007 and says there may still be more job cuts coming.

NEXT: Pulte Homes
Last updated April 24 2008: 11:01 AM ET