Tag Archives: dan akerson

GM Makes $1 Billion in Q1. Down from $3.2 Billion in 2011

GM stock has been trading $22-$23 range, well down from the $33 level of GM’s 2010 initial public offering, to say nothing of what is happening to small investors who subsequently bid the stock – which pays no dividend – up to $39 before reality took hold. Continue reading

Posted in auto news, financial results, news analysis, results | Tagged , , , , , , , , | 3 Comments

Volt Fire Hearings Pits Ideologues versus Engineers

In the end how you view this low-voltage Congressional short circuit – with lots of smoke but no fires – depends on how you view Obama Administration actions that used taxpayer-funded subsidies to encourage production of the Volt. These include $151.4 million in stimulus funds for LG Chem, which produces lithium-ion polymer battery cells for the Volt, and $105 million given directly to GM, as well as an end-user federal tax credit of up to $7,500 per Volt purchased. Such subsidies will likely be hotly debated for all industries during the election. Continue reading

Posted in auto news, electric vehicles, engineering, fools 'n frauds, news, news analysis, people, safety | Tagged , , , , , , , , , , , , , , | Leave a comment

GM CEO Akerson Buys Another 10,000 Shares at $25.05

Akerson vowed this week that there was plenty of upside in GM stock given its new structure and emphasis on managing costs. On a cost cutting side, one program with great promise involves vehicle architectures. Akerson said “We need to simplify.” The company said that by 2018 it plans to cut that number to 14 from the 30 currently use.

Skeptics, and there are many, say show us the earnings per share and start paying dividends. Well, at least Akerson is putting his money where his promises are, so to speak. Continue reading

Posted in auto news, economy, financial results, news analysis, people, results | Tagged , , , , , , , , , , , , , | Leave a comment

GM Stock Below $25 down from $39 High as Conference Opens

During the program, senior leaders reviewed GM’s progress and outline plans for further improvement. In a sense GM is playing a “beat the reaper” game – can GM increase share and sales of less profitable small cars such as the Chevrolet Sonic, which is just entering production, at a greater rate than the drop off in truck sales and larger per unit profits in North America, while growing in Eastern Europe, South America and Asia? Continue reading

Posted in auto news, economy, financial results, news analysis, results, sales | Tagged , , , , , , , , , , , , , , , | Leave a comment

Akerson Praises GM at Annual Meeting as Stock Languishes

The weaknesses at GM remain in its sales of traditional trucks, with a 110 days supply of full size pickups; it’s heavy use of incentives, which remain higher than the industry average, (but are lower than the levels that drove it into bankruptcy); and gaps in updating the product line because of delayed programs at the end of the last decade when cash was short. Continue reading

Posted in auto news, economy, financial results, news analysis, people, performance | Tagged , , , , , , , , , , , | Leave a comment

Another GM Top Management Change as CFO Liddell Resigns

It appears that the outside financial gunslingers brought in by Treasury – notably Ed Whitaker retired from ATT and Chris Liddell from Microsoft had short term personal goals as to how long they would run the historic and now recovering auto giant. This begs the question as to how long the current CEO Dan Akerson, who came from Wall Street, will stick around, and puts a stop to speculation that Liddell, 52, was the obvious heir apparent for Akerson’s job. Continue reading

Posted in auto news, financial results, people, results | Tagged , , , , , , , , , , , , | Leave a comment