Industry Headlines

GM CEO Says Salary Cuts Hinder Growth

December 20, 2010
/ Print / Reprints /
/ Text Size+

WASHINGTON, DC-General Motors CEO Dan Akerson said in a speech to the Economic Club of Washington, DC, Friday  that the company’s executive retention problems are likely due to pay limits, according to a story by the Associated Press .

Akerson said the company’s efforts to overcome its bankruptcy troubles are hampered by the salary limits the government put in place for companies that accepted federal bailouts.

"We have to be competitive. We have to be able to attract and retain great people," Akerson was quoted as saying. "We've been able to retain them but we're starting to lose them and I think that's an issue for our owners to recognize that in their best interest, there should be some relaxing."

The government gave General Motors $49.5 billion to bail out the company in 2008 and 2009.  U.S. taxpayers still own 33 % of the company.

Did you enjoy this article? Click here to subscribe to Quality Magazine. 

You must login or register in order to post a comment.




Charles J. Hellier has been active in the technology of nondestructive testing and related quality and inspection fields since 1957. Here he talks with Quality's managing editor, Michelle Bangert, about the importance of training.
More Podcasts

Quality Magazine


2015 January

Check out the January 2015 edition of Quality Magazine for features!

Table Of Contents Subscribe

The Skills Gap

What is the key to solving the so-called skills gap in the quality industry?
View Results Poll Archive

Clear Seas Research

qcast_ClearSeas_logo.gifWith access to over one million professionals and more than 60 industry-specific publications,Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.


facebook_40.png twitter_40px.png  youtube_40px.pnglinkedin_40px.png