Seeking Alpha

The Treasury Department freezes the pay of GM CEO Dan Akerson at 2011 levels, while 69 senior...

The Treasury Department freezes the pay of GM CEO Dan Akerson at 2011 levels, while 69 senior execs at the automaker see their compensation cut by 10%. Last year, the bailed out company knocked out record profits and regained the world's largest automaker moniker.
Comments (10)
  • Venerability
    , contributor
    Comments (3048) | Send Message
     
    I don't own GM, but the Market will like that.

     

    Also note that the Auto sector was almost the sole very bright spot in the Jobs report yesterday, with Ford, especially, stepping up hiring and saying this past week it expects to do a lot more.

     

    Meanwhile, oodles of favorable PR coming out of the New York Auto Show, which dominates the business sections of New York popular media this time every year.

     

    It has been a long time now since GM and Ford outperformed the rest of the Market. The time may finally arrive this week.
    7 Apr 2012, 08:59 AM Reply Like
  • Ginny
    , contributor
    Comments (240) | Send Message
     
    So they have improved both their profits and their products, and the government rewards them with lower compensation. Typical.
    7 Apr 2012, 09:08 AM Reply Like
  • BruceInKY
    , contributor
    Comments (397) | Send Message
     
    Now if only we the citizenry could impose reduced compensation and elimination of bonuses on our governmental overlords and their public union minions we might be on to something.
    7 Apr 2012, 09:14 AM Reply Like
  • bdarken
    , contributor
    Comments (401) | Send Message
     
    Why just GM?

     

    Where's treasury on Chrystler, AIG and the rest of those (banks) still owing the American Taxpayers money?
    7 Apr 2012, 09:24 AM Reply Like
  • mshade
    , contributor
    Comment (1) | Send Message
     
    I think Chrysler paid back their obligations last year in May 2011. There is no longer any government oversight of Sergio & Co.
    7 Apr 2012, 04:09 PM Reply Like
  • bdarken
    , contributor
    Comments (401) | Send Message
     
    My error. Thanks for the correction.
    7 Apr 2012, 07:49 PM Reply Like
  • medzjohn
    , contributor
    Comments (211) | Send Message
     
    Most Americans would cheer any restraint on excessive corporate compensation. The Treasury just did what every corporate board of directors should be doing in service to their enterprise, its shareholders and employees, and America's democratic values.
    7 Apr 2012, 10:08 AM Reply Like
  • bdarken
    , contributor
    Comments (401) | Send Message
     
    This conflates America, which is a democracy,
    with a corporation, which is not.

     

    There are roughly 6-8 million companies in the USA.
    Most of them have been doing exactly as you suggest.
    You just don't hear about it because they're not in the Dow.
    7 Apr 2012, 07:55 PM Reply Like
  • Hendershott
    , contributor
    Comments (1473) | Send Message
     
    In the process of companies cutting costs, why should management be exempt?
    7 Apr 2012, 07:32 PM Reply Like
  • The_Hammer
    , contributor
    Comments (3777) | Send Message
     
    nice to see that execs are not guaranteed a bonus and raises yearly along with stock options. Excessive compensation is rampant across corporate america no matter what the performance.
    8 Apr 2012, 06:19 AM Reply Like
DJIA (DIA) S&P 500 (SPY)