Archive for the ‘Business Stories’ Category
TAXPAYERS FACE LOSSES ON GM’S INITIAL PUBLIC OFFERING
By Mark Kleis
Several sources familiar with the preparations of General Motors’ upcoming initial public offering are, according to the latest projections, suggesting that American taxpayers could take a loss on the offering, potentially pushing off payback for years.
The U.S. taxpayers currently lay claim to a 61 percent ownership stake in GM, meaning taxpayers would need [...]
In: Business Stories
FRITZ HENDERSON NAMED CEO OF ENERGY SPIN-OFF
By Drew Johnson
Former General Motors CEO Fritz Henderson has finally found himself a new job, landing the position of CEO at Sunoco spin-off SunCoke Energy. SunCoke is expected to be separated from Sunoco sometime during the first half of next year.
Until SunCoke is spun-off from Sunoco, Henderson will serve as the company’s senior vice president. Sunoco announced [...]
In: Business Stories
GM’S GIRSKY PAID $1.4M IN ATTEMPT TO SAVE SATURN
By Mark Kleis
According to recently revealed documents as a result of General Motors’ IPO filing with the SEC, it has been confirmed that Stephen Girsky was compensated $1.4 million for consulting work aimed at saving the Saturn brand.
Prior to joining GM as a member of the adviser board, analyst Stephen Girsky was approached by the automaker in [...]
In: Business Stories
