Saturday, December 11, 2010

GM's Rebound Hurt By Federal Salary Limits

From "Top GM exec says federal pay limits hurt company" by Ken Thomas, Associated Press:
The top executive at General Motors said Friday that the automaker's attempt to rebound from its bankruptcy is being hindered by salary limits the government has clamped on executives at companies that accepted federal bailouts.

GM CEO Dan Akerson said in a speech to the Economic Club of Washington, D.C., that the company faces many challenges, including the retention of top talent in its executive ranks. He suggested relaxing the pay limits, and said he was meeting later in the day with federal officials who oversee executive compensation for companies that received bailouts.
Read more here.

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