TRENDING NOW:
While we’re on the floor at the Chicago Auto Show Wednesday covering what just may be the most exciting Chevy reveal of the last two years, you can sit back and watch the live stream of the entire show from the comfort of your home, office, internet café, or whatever other location you desire.
Chevy kicks off the conference at 9:15 am CST/ 10:15 am EST / 8:15 am MST / 7:15 am PST, which will be preceded by an 8:00 o’clock (CST) Auto Show Breakfast Keynote Address. Make the jump for the player!
“$20 to $25″. According to General Motors Chairman Ed Whitacre, that’s what we should expect to pay per share when GM finally launches its initial public offering. “Not-so-fast,” say other voices. In the company’s latest Securities and Exchange Commission filing, it has claimed that the price has “not yet been determined”. Continue Reading.
General Motors has put aside 5 percent of its common shares for employees and dealers to buy in ahead of its initial public offering (IPO). Continue reading.
General Motors newest CEO Dan Akerson will receive a $9 million compensation package that includes an annual $1.7 million in cash, $5.3 million in salary stock delivered over three years starting on September 30, 2011, as well as $2 million in restricted stock. Continue reading.
This is the week when Dan Akerson officially takes the helm as CEO of General Motors, replacing Ed Whitacre. In hindsight, the timing was fairly predictable, although not many expected it. Whitacre was never intended to lead The General’s charge for the indefinite future, as his task was to restore the company back to profitability and, given the past two quarterly earnings, he has succeeded.
The GM board of directors, on which Akerson has served since July 2009, knew they would need to officially reveal the next CEO. The job required somebody who could successfully market the company to potential investors when it was time for the all-important Initial Public Offering (IPO), something Akerson is more than capable of: he has the attributes that should sit well with the wealthy crowd, given that they didn’t watch their previous shares of GM vaporize through bankruptcy.
Come September 1, General Motors will have itself a new chief executive officer in Dan Akerson, who will succeed current CEO Ed Whitacre. But unlike Whitacre, Akerson plans to shop for houses in metro Detroit, which means that he’s planning on staying a while as The General’s chief, bringing long-term stability to GM management.
Akerson, who will be GM’s fourth CEO in less than two years, will move from his McLean, VA home to make the metro Detroit area his primary residence. This is in grave contrast to Whitacre, who stayed in an apartment at the Westin Book Cadillac hotel and commuted from his home in San Antonio, TX. Continue reading.
The good men and women at General Motors are sick and tired of carrying the Government Motors label. In a recent interview with the Detroit Free Press, GM CEO and Chairman Ed Whitacre had the following to say about the moniker:
“We’re tired of being called Government Motors by a lot of people. We know that’s keeping some people from buying our vehicles. Nobody at GM likes that label. Everybody is embarrassed that all this happened. We are on a mission to prove that it was a great thing to bail it out. We’re going to go as fast as we can go.”
After announcing the plan to be succeeded by Dan Akerson as the CEO of General Motors, Ed Whitacre sent the following email to senior GM executives: Continue reading.
GM Chairman and CEO Ed Whitacre recently sat down with the Free Press and discussed many GM-related topics, including pricing of the much-anticipated Chevy Volt. Whitacre, who will soon step down as The General’s CEO, touted the Volt’s exclusive extended-range technology as well as the E-REV’s ability to utilize both, the engine-generator and the electric motor/battery pack to power the vehicle. Whitacre also threw a few punches at Nissan’s Leaf pure electric vehicle. Click past the break to see what had to say.
If the title of this heavy and somewhat left-field news article caused you to spit out your Mountain Dew, coffee, or whatever you prefer to drink at this hour, don’t worry. You’re not the only one. When General Motors held a conference call to discuss its second quarter earnings, we only expected to report on just that, and not Big Ed’s resignation just when we were starting to get comfortable with him leading The General. And no, Maximum Bob Lutz will not be the one grabbing the reins.
Effective September 1st, 2010, GM board of directors member Daniel Akerson will be filling the big shoes Whitacre is stepping out of. Whitacre will stay on as chairman until the end of 2010, at which poin Akerson will take over the position.
Akerson, 61, is a former telecommunications CEO (much like Whitacre) for the business telecommunications company XO Communications, where he served from 1999 to 2003. Since 2003, he has been the managing director for global investment firm The Carlyle Group and still holds his position today. Akerson has also lead Nextel as its CEO from 1996 to 1999 and its chairman from ’96 to 2001.
It pretty much goes without saying that Akerson is no more a car guy than Whitacre. But he has been a voice in virtually every key decision since July 2009, when GM exited bankruptcy. We’re expecting great things from Mr. Akerson! Keep reading for GM’s presser.
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