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 […]

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 […]

BILL FORD RETROACTIVELY PAID FOR WORK AS CHAIRMAN

By Mark Kleis Ford Motor Company’s executive chairman, Bill Ford Jr., vowed five years ago not to take any payment from the automaker that bears his name until the company’s automotive sector achieved a full year of profitability without the aid of special items. Following five consecutive quarters of profitable growth, Bill Ford Jr. will finally end his […]

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