General Motors’ top three executives increased their investment in the company once the stock hit the open market, picking up more shares under an employee program. The report comes from paperwork filed today with federal regulators. GM CEO Daniel Akerson purchased 14,200 shares of common stock at $33.57 on the open market while Vice Chairman [...]
General Motors Chairman Edward Whitacre said today that the company’s stock will be priced from $20 to $25 per share. Whitacre made the statement at an event in San Antonio, Texas, and said that the initial public offering would take place sometime in November. “It’s going to be somewhere in the $20 range, $20, $25, [...]
Earlier this morning, egmCarTech reader Ivan Gutierrez sent me an email with a picture of him standing next to former General Motors CEO, Ed Whitacre and some other guy we’ve never seen. When we asked for more details, Ivan wrote us a pretty large paragraph on why Whitacre was visiting Texas Tech – it’s pretty [...]
During his first major address to General Motors’ global workforce, new CEO Dan Akerson urged employees to “be on the attack” against rival automakers. Sitting alongside Chairman and former CEO Ed Whitacre, Akerson said spoke about his vision for moving the Detroit automaker ahead. “He said, “˜We”re good right now, but we”ve got to get [...]
When Edward Whitacre took the job as General Motors’ CEO last year, he made it clear that he wasn’t here to stick around for a long time. Whitacre seemed pretty confident when he said GM was headed in the right direction and announced on Aug. 12 that he will be stepping down as CEO as [...]
General Motors new incoming CEO, Dan Akerson, is shopping for a house in metro Detroit, a move that signals he’s going to stay a while and be close to the company’s Renaissance headquarters in downtown Detroit. Akerson, who currently resides in McLean Va, will make his Detroit-area home his primary residence, sources familiar with the [...]
General Motors announced today that it has filed for an initial public offering of common stock. The move is expected to largely benefit GM executives if all goes right. While GM did not disclose the number of shares to be sold or the price per share, potential gains for top executives are expected to be [...]
According to three people familiar with the talks, General Motors’ board and bankers asked current CEO and Chairman Ed Whitacre to either step down or commit to stay in his position for years more to assist the company’s initial public offering to investors. The sources said that Whitacre didn’t want to stay for an extended [...]
By now most of you should already know that General Motors’ current CEO and Chairman Edward Whitacre Jr., will be stepping down on September 1 and will be replaced by Daniel Akerson – but what does the U.S. government, which owns 60.1 percent of the Detroit automaker, think about the upcoming CEO? On Saturday, White [...]
In a letter to GM employees regarding his decision to step down as Chairman and CEO of General Motors, Ed Whitacre said that he was preparing for the day ever since he joined the company. ” It was never the plan for me to be the long-term CEO and Chairman, which the Board knew and [...]
