daniel akerson

Top Executives at Bailed-Out Firms Have Pay Cut

Nearly 70 top executives at three companies bailed out by the taxpayers during the 2008 financial crisis -- AIG, Ally Financial and GM -- were ordered to take pay 10% cuts by the federal government, and the CEOs had their pay frozen at 2011 levels.

GM Stock Falters as Company Revisits Failed Strategies

When GM CEO Daniel Akerson recently compared one of his company's products to a can of Diet Coke, investors and, no doubt, employees cringed. After all, the belief that cars were no more than expensive consumer products is what caused GM's downfall and subsequent bankruptcy in 2009.

Will GM Post Its First Annual Profit Since 2004?

Or will it disappoint? Investors -- and taxpayers -- will be watching on Thursday, when GM is posts its latest earnings. Despite analyst expectations of a full-year profit, the automaker has warned that fourth-quarter results will fall "significantly" from previous periods.

GM Withdraws $14 Billion Federal Loan Application

Back in 2009, General Motors applied to the Department of Energy for $14.4 billion in loans to help it manufacture more fuel-efficient vehicles. Today, with the automaker making big strides in turning around its business, GM said it no longer needs or wants the money.

Obama Praises GM Bailout as Shares Gain 4% in IPO

Following General Motors' historic return as a publicly traded company Thursday, President Obama said the U.S. government, despite the many critics, is on track to more than recoup the nearly $50 billion it invested in the Detroit automaker.

GM's IPO: Recovery -- Not the End of the Road

Considering where the iconic carmaker has been in recent years, the pending IPO -- and robust investor demand for shares -- is a remarkably positive step. But GM still has plenty of problem spots that will need fixing if this historic event is to have lasting meaning.

Auto Industry Cruises on Slow, Steady Demand

Though vehicle sales have underperformed some analyst expectations in recent months, results are much improved compared to those of a year ago. The industry is seeing a broad trend that is benefiting nearly all automakers.

GM's Fate Now Rests on
Daniel Akerson's Shoulders

Akerson will need to convince shareholders that GM, which is only a year out of bankruptcy and has posted just two profitable quarters, is a worthy investment. He'll also have to make sure the carmaker's dramatic turnaround is built to last.

Ed Whitacre to Step Down as GM CEO on Sept. 1

During GM's earnings call, Whitacre announced that he'll step down next month as CEO of the country's largest automaker. Daniel Akerson, a GM board member and former chief exec at privately held XO Communications, will assume the top role.