It seems that the salary cap for The General’s executives and other salaried workers will continue to be in effect for at least another year. General Motors CEO Dan Akerson was quick to point out that this has to do largely with the rules set forth by the U.S. Government when they lent billions of dollars to the automaker. Now, Akerson is pushing for Treasury to relax the restrictions, so that key members of his team will not jump ship to other employers who can offer them more benefits.
“We’re starting to lose some of those key people to elsewhere,” Akerson stated during his speech this morning to the Washington Economic Club at the Ritz-Carlton Hotel. However, he also pointed out that “there is more to life than money”. Hopefully key players within The General’s management think the same.