Autoblog http://www.autoblog.com Autoblog http://www.blogsmithmedia.com/www.autoblog.com/media/feedlogo.gif Autoblog http://www.autoblog.com en-us Copyright 2013 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[GM stock prices finally eclipse $33 IPO price]]>http://www.autoblog.com/2013/05/17/gm-stock-prices-finally-eclipse-33-ipo-price/http://www.autoblog.com/2013/05/17/gm-stock-prices-finally-eclipse-33-ipo-price/http://www.autoblog.com/2013/05/17/gm-stock-prices-finally-eclipse-33-ipo-price/#commentsFiled under: ,



General Motors has reached an important milestone this morning: the price for one share of the company has climbed to over $33. That's higher than the Initial Public Offering price from 2010. At roughly 12:15PM Eastern today, GM shares were up $0.97 on the day, some 2.99 percent, for a total of $33.36. The Detroit Free Press reports that the last time GM stock closed over $33 was on May 4, 2011. GM stock has been steadily growing in value throughout 2013. The stock price is up by 14 percent since the start of the year.

The jump over $33 per share is undoubtedly great news for both investors and GM employees, who've suffered through some scary moments over the last few years. In 2012, the share price fell below $19. Later that summer, GM CEO Dan Akerson spent some $500,000 on 25,000 shares as a vote of confidence in the embattled automaker (shares that are now worth roughly $825k... nicely played, Dan).

As has been widely reported, the $33 price still is far from the break-even point for the shares purchased by the US Government, however. The Treasury Department is still planning on divesting itself of GM shares by early 2014, and would need to see roughly $75 per share to break even on the investment it made in 2009 as part of the company's bankruptcy restructuring.

GM stock prices finally eclipse $33 IPO price originally appeared on Autoblog on Fri, 17 May 2013 13:28:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>dan akersongeneral motorsgeneral motors stockgmgm ipogm stockgm stock priceFri, 17 May 2013 13:28:00 EST http://www.autoblog.com/feed/20573955/article-comments.xml http://www.autoblog.com/feed/2013/05/17/gm-stock-prices-finally-eclipse-33-ipo-price/20573955/article-detail.xml 20573955 http://www.blogcdn.com/www.autoblog.com/media/2013/05/gm-renaissance-center-628_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2013/05/gm-renaissance-center-628.jpg <![CDATA[Would you allow advertisements on your infotainment system? [w/poll]]]>http://www.autoblog.com/2013/05/11/would-you-allow-advertisements-on-your-infotainment-system-w-p/http://www.autoblog.com/2013/05/11/would-you-allow-advertisements-on-your-infotainment-system-w-p/http://www.autoblog.com/2013/05/11/would-you-allow-advertisements-on-your-infotainment-system-w-p/#commentsFiled under: , , , , , , ,



As consumers find new ways to avoid commercials and advertisements, companies are constantly trying to find new ways of marketing to them. Other than radio commercials, it's hard to think of a way for ads to show up in our cars, but Reuters is reporting that General Motors is considering selling ads show inside its in-car infotainment systems.

In the article, GM CEO Dan Akerson talked about the possibility of in-car ads with the example being a "brought to you by Alltstate" message showing up on the infotainment screen. Of course, this doesn't even begin to factor in what sort of ads we'll start seeing in GM cars once it launches its widespread 4G LTE Internet access for most vehicles starting with the 2015 model year.

Does this kind of advertising creep strike you as being par for the future course, or insidious beyond your wildest dreams? Make your voice heard, in our poll below.

View Poll

Would you allow advertisements on your infotainment system? [w/poll] originally appeared on Autoblog on Sat, 11 May 2013 11:01:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>advertisingdan akersongeneral motorsgmin-car advertisingSat, 11 May 2013 11:01:00 EST http://www.autoblog.com/feed/20560845/article-comments.xml http://www.autoblog.com/feed/2013/05/11/would-you-allow-advertisements-on-your-infotainment-system-w-p/20560845/article-detail.xml 20560845 http://www.blogcdn.com/www.autoblog.com/media/2013/05/cadillac-cue_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2013/05/cadillac-cue.jpg <![CDATA[US Treasury denies pay hikes for GM, Ally execs]]>http://www.autoblog.com/2013/04/29/us-treasury-denies-pay-hikes-for-gm-ally-execs/http://www.autoblog.com/2013/04/29/us-treasury-denies-pay-hikes-for-gm-ally-execs/http://www.autoblog.com/2013/04/29/us-treasury-denies-pay-hikes-for-gm-ally-execs/#commentsFiled under: , ,

GM CEO Dan Akerson - gesturing at lectern

In December, the US Treasury granted General Motors the rights for the company to once again buy corporate jets and for its executives to fly on them, but neither those execs nor the ones at Ally Financial will get any raises this year. The automaker, worried that top talent might leave for higher-paying pastures, reportedly sought a more "market-based approach to executive compensation" for 12 of its top 25 execs. Because the federal government still has stakes in both GM and Ally, though, the companies need approval for pay raises, and they were declined. Neither company sought raises for their CEOs, and Ally's request didn't involve any additional cash compensation for the executives in question.

While the Treasury says that cash salaries for the 25 top executives at GM and Ally combined are just four percent below the median compared to similar positions, total cash compensation is 56 percent below the median. That would include GM CEO Dan Akerson (shown), who got a little more cash last year because of a compensation rearrangement speculated to potentially involve his retirement, but the overall annual pay package of $9 million hasn't changed for him since 2010 according to the Treasury.

What's more, it's said the overall compensation at both firms dropped by double-digit percentages compared to last year due to an influx of new appointments among the top 25 executives. The Treasury has said it will divest itself of all GM shares it owns by March 2014, but hasn't given a any guidance on divestiture of its Ally stock, the financial firm dealing with a much more complicated situation.

US Treasury denies pay hikes for GM, Ally execs originally appeared on Autoblog on Mon, 29 Apr 2013 11:30:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>allyally financialdan akersonexecutive compensationexecutive paygeneral motorsgmgm bankruptcytarptreasuryus treasuryMon, 29 Apr 2013 11:30:00 EST http://www.autoblog.com/feed/20550829/article-comments.xml http://www.autoblog.com/feed/2013/04/29/us-treasury-denies-pay-hikes-for-gm-ally-execs/20550829/article-detail.xml 20550829 http://www.blogcdn.com/www.autoblog.com/media/2013/04/gm-ceo-dan-akerson-at-lectern_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2013/04/gm-ceo-dan-akerson-at-lectern.jpg <![CDATA[GM alters Akerson's pay mix because he may retire]]>http://www.autoblog.com/2013/04/28/gm-alters-akersons-pay-mix-because-he-may-retire/http://www.autoblog.com/2013/04/28/gm-alters-akersons-pay-mix-because-he-may-retire/http://www.autoblog.com/2013/04/28/gm-alters-akersons-pay-mix-because-he-may-retire/#commentsFiled under: , ,

Dan Akerson

General Motors has tweaked CEO Dan Akerson's pay mix to compensate for the possibility that the 64-year-old executive may retire before his long-term restricted stock vests in three years. Last year, Akerson saw his pay jump by 44 percent to $11.1 million, including $1.99 million in restricted stock as salary units, which vest immediately. Previously, Akerson was awarded around $2 million in restricted stock that could be forfeited on retirement.

The change has led some analysts to believe Akerson may retire earlier than he had planned. While speaking with Bloomberg, GM spokesperson Tom Henderson said, "We certainly wouldn't speculate on what he will actually do. That's up to him."

Akerson received $7.7 million in 2011 despite his actual pay target being closer to $9 million. If that seems steep, keep in mind his compensation falls well behind that of Ford CEO Alan Mulally, who brought home $21 million in compensation in 2012. GM is required to report changes to executive pay to the federal government.

GM alters Akerson's pay mix because he may retire originally appeared on Autoblog on Sun, 28 Apr 2013 13:02:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>akersondan akersondan akerson pay mixgeneral motorsgmSun, 28 Apr 2013 13:02:00 EST http://www.autoblog.com/feed/20549774/article-comments.xml http://www.autoblog.com/feed/2013/04/28/gm-alters-akersons-pay-mix-because-he-may-retire/20549774/article-detail.xml 20549774 http://www.blogcdn.com/www.autoblog.com/media/2013/04/dan-akerson-628_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2013/04/dan-akerson-628.jpg <![CDATA[GM's Akerson mulling South Korea exit options due to North Korean tensions [w/video]]]>http://www.autoblog.com/2013/04/04/gms-akerson-mulling-south-korea-exit-options-due-to-north-korea/http://www.autoblog.com/2013/04/04/gms-akerson-mulling-south-korea-exit-options-due-to-north-korea/http://www.autoblog.com/2013/04/04/gms-akerson-mulling-south-korea-exit-options-due-to-north-korea/#commentsFiled under: , , , ,

Dan Akerson interview on CNBC's Squawk Box - video screencap

Dan Akerson, CEO of General Motors, says his company is making contingency plans to move workers from South Korea should tensions escalate further between that country and North Korea. While speaking in an interview on CNBC's Squawk Box, Akerson said, "We are making contingency plans for the safety of our employees to the extent that we can."

The executive also touched on production. GM has over 17,000 workers across five plants in South Korea, which produce around 1.3 million vehicles per year for export. Those include the Chevrolet Spark subcompact sold in North America. The factories also produce 145,000 vehicles for the South Korean Market.

Akerson says that GM can't shift production out of South Korea quickly, but that if the region continues to destabilize due to North Korean saber rattling, the company may have no choice but to consider shifting its operations out of the region as part of long-term planning. He also makes it clear that any issues in South Korea could have wide-ranging impacts on the global automotive industry as a whole. You can watch the interview for yourself below.

Continue reading GM's Akerson mulling South Korea exit options due to North Korean tensions [w/video]

GM's Akerson mulling South Korea exit options due to North Korean tensions [w/video] originally appeared on Autoblog on Thu, 04 Apr 2013 17:30:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>cnbcdan akersongeneral motorsgeneral motors productiongmnorth koreasouth koreasquawk boxvideoThu, 04 Apr 2013 17:30:00 EST http://www.autoblog.com/feed/20530785/article-comments.xml http://www.autoblog.com/feed/2013/04/04/gms-akerson-mulling-south-korea-exit-options-due-to-north-korea/20530785/article-detail.xml 20530785 http://www.blogcdn.com/www.autoblog.com/media/2013/04/akerson-interview-628_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2013/04/akerson-interview-628.jpg <![CDATA[VW, Daimler CEOs take pay cuts in 2013, GM's Akerson stays the course]]>http://www.autoblog.com/2013/02/27/vw-daimler-ceos-take-pay-cuts-in-2013-gms-akerson-stays-the-c/http://www.autoblog.com/2013/02/27/vw-daimler-ceos-take-pay-cuts-in-2013-gms-akerson-stays-the-c/http://www.autoblog.com/2013/02/27/vw-daimler-ceos-take-pay-cuts-in-2013-gms-akerson-stays-the-c/#commentsFiled under: , , ,



Amidst slow auto sales in Europe, top executives at both Volkswagen and Daimler AG will be receiving pay cuts in 2013, which comes at the same time as conflicting reports of a possible pay increase for General Motors CEO Dan Akerson (right). According to Automotive News Europe, VW CEO Martin Winterkorn (center) and Daimler CEO Dieter Zetsche (left) are set to make less this year, but while a number of reports (including Automotive News) suggested that GM has requested a pay increase for Akerson, a statement from GM provided to USA Today makes it clear a raise is not forthcoming.

Winterkorn will take a of hit of three million euros (close to $4 million) but will still finish the year making almost $20 million. ANE says that Winterkorn suggested his own pay cut earlier this month, and other board members will also see a lower salary this year. Just a couple days after a three-year contract extension was announced for Zetsche, it's being reported that his pay will drop by a half million euros leaving him with an annual income totaling 8.15 million euros (or around $10.6 million); Daimler will also be reducing the bonuses paid out to its eight board members.

As for Akerson's situation, this is where things get dicey. Yesterday, AN reported that GM would be raising its CEO's salary from $9 million up to $11.1 million, but GM was quick to deny that information, saying that the $11.1 million figure is actually the entire tally of Akerson's compensation package for 2012. Akerson's pay for 2013 will remain at $9 million (minus, we presume, any other forms of compensation), well below that of his Big Three rival CEOs, Alan Mulally and Sergio Marchionne, who both make more than double what Akerson makes.

VW, Daimler CEOs take pay cuts in 2013, GM's Akerson stays the course originally appeared on Autoblog on Wed, 27 Feb 2013 10:58:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>ceo payceo pay cutsdan akersonDieter Zetschemartin winterkornWed, 27 Feb 2013 10:58:00 EST http://www.autoblog.com/feed/20478596/article-comments.xml http://www.autoblog.com/feed/2013/02/27/vw-daimler-ceos-take-pay-cuts-in-2013-gms-akerson-stays-the-c/20478596/article-detail.xml 20478596 http://www.blogcdn.com/www.autoblog.com/media/2013/02/akerson-winterkorn-zetsche_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2013/02/akerson-winterkorn-zetsche.jpg <![CDATA[GM nets income of $4.9B in 2012, down from $7.9B in 2011]]>http://www.autoblog.com/2013/02/14/gm-nets-income-of-4-9b-in-2012-down-from-7-9b-in-2011/http://www.autoblog.com/2013/02/14/gm-nets-income-of-4-9b-in-2012-down-from-7-9b-in-2011/http://www.autoblog.com/2013/02/14/gm-nets-income-of-4-9b-in-2012-down-from-7-9b-in-2011/#commentsFiled under: ,

General Motors logo

General Motors released a statement about its income for the 2012 calendar year today, reporting a net income of $4.9 billion and an earnings before interest and tax (EBIT) figure of some $7.9 billion. Per share that breaks down to $2.92, versus net income of $4.58 per share last year. These numbers are in contrast to the automaker's revenue figures, which rose in 2012 to $152.3 billion from $150.3 billion in 2011.

GM calls out the discrepancy of revenue to income, saying that it is "primarily" due to "unfavorable special items," as well as hits taken in the slumping European markets.

The special items portion is where the story gets a little bit confusing. The company says that $0.5 billion worth of special items negatively impacted income this year. Numbered among those items are -$26.2 billon non-cash good will impairment charge (this occurs when a company buys something large for more than its "book value"), $2.2 billion added to the US salaried pension plan, and a -$5.2 billion "non-cash impairment" of GM Europe Assets.

Even with that half-billion accounted for the remaining $2.2 billion difference in this year's income versus 2011 could speak to operating costs that are trending in the wrong direction.

Still, CEO Dan Akerson is bullish about the coming year saying, "Our priorities will be executing flawless new vehicle launches, controlling costs and delivering more vehicles to our customers at outstanding value." Feel free to scroll down to take in the whole of GM's rather impenetrable press release.

Continue reading GM nets income of $4.9B in 2012, down from $7.9B in 2011

GM nets income of $4.9B in 2012, down from $7.9B in 2011 originally appeared on Autoblog on Thu, 14 Feb 2013 18:30:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>dan akersongeneral motorsgmgm incomeincome 2012Thu, 14 Feb 2013 18:30:00 EST http://www.autoblog.com/feed/20462235/article-comments.xml http://www.autoblog.com/feed/2013/02/14/gm-nets-income-of-4-9b-in-2012-down-from-7-9b-in-2011/20462235/article-detail.xml 20462235 http://www.blogcdn.com/www.autoblog.com/media/2013/02/gm-logo-bricks_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2013/02/gm-logo-bricks.jpg <![CDATA[Read an excerpt from Whitacre's book about how he fired Henderson and why Akerson got the job]]>http://www.autoblog.com/2013/01/24/read-an-excerpt-from-ed-whitacres-book-about-how-he-fired-fritz/http://www.autoblog.com/2013/01/24/read-an-excerpt-from-ed-whitacres-book-about-how-he-fired-fritz/http://www.autoblog.com/2013/01/24/read-an-excerpt-from-ed-whitacres-book-about-how-he-fired-fritz/#commentsFiled under: ,

Ed Whitacre's new book American Turnaround - coverIt is probably best just to play this down the middle and let you read the excerpt from American Turnaround: Reinventing AT&T and GM and the Way We Do Business in the USA by Ed Whitacre. The author, you'll remember, was the former AT&T CEO who came out of retirement to take the position of chairman at General Motors in June of 2009. Six months later, he took the role of CEO, and on September 1, 2010 he was replaced by current CEO Dan Akerson and gave up the chairmanship at the end of that year.

To read the excerpt, you're going to have to get past the Fortune headline "How Ed Whitacre brought GM back from the brink." Now, Whitacre didn't choose that headline, and since we're playing this down the middle, we can't say that the headline isn't the only eyebrow-raising line in the piece - but we won't charge it to Whitacre's account. However, when it takes five years to develop a single car, and redesigning a taillight for a midcycle refresh might take a year, we're not sure how anyone can reinvent a global automaker in just nine-months as CEO. Perhaps we should ask Ford boss Alan Mullaly about that timeframe.

To the point, the book will be out on February 12 - you can pre-order it on Amazon now - and Whitacre's explanation of how Fritz Henderson was let go, how he got the CEO position and how Akerson came to follow will be sure to get enthusiasts intrigued in what else the complete tome might say. All you've got to do is follow the link to read it.

Read an excerpt from Whitacre's book about how he fired Henderson and why Akerson got the job originally appeared on Autoblog on Thu, 24 Jan 2013 15:45:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>american turnaroundat and tattdan akersoned whitacrefritz hendersongeneral motorsgmgm bankruptcymark reussThu, 24 Jan 2013 15:45:00 EST http://www.autoblog.com/feed/20436474/article-comments.xml http://www.autoblog.com/feed/2013/01/24/read-an-excerpt-from-ed-whitacres-book-about-how-he-fired-fritz/20436474/article-detail.xml 20436474 http://www.blogcdn.com/www.autoblog.com/media/2013/01/ed-whitacre-american-turnaround-book_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2013/01/ed-whitacre-american-turnaround-book.jpg <![CDATA[GM CEO Dan Akerson's 1958 Chevrolet Corvette sells at Barrett-Jackson for $270,000 [w/video]]]>http://www.autoblog.com/2013/01/18/gm-ceo-dan-akersons-1958-chevrolet-corvette-w-video/http://www.autoblog.com/2013/01/18/gm-ceo-dan-akersons-1958-chevrolet-corvette-w-video/http://www.autoblog.com/2013/01/18/gm-ceo-dan-akersons-1958-chevrolet-corvette-w-video/#commentsFiled under: , , , , , , ,

Dan Akerson's 1958 Chevrolet Corvette

General Motors CEO Dan Akerson has said his final goodbye to his own personal 1958 Chevrolet Corvette. The car just sold here at the 2013 Barrett-Jackson auction in Scottsdale, with a final gavel price of $270,000 - since 100 percent of the sale price is slated to benefit Habitat for Humanity Detroit, there are no extra charges from the auction house on top of the sale price.

For those interested, the base price for a '58 'Vette Convertible was $3,591, complete with a 245-horsepower 4.6-liter V8 engine. Of the 9,168 Corvettes sold in 1958, just 510 of them were painted in this particularly attractive shade of blue, known as Regal Turquoise.

Check out a video from Speed showing the car as it crosses the auction block as well as the car's official auction description below, but not before scrolling through our image gallery of live photos from the big tent above. You can also watch live streaming of the whole event here at Speed.

Continue reading GM CEO Dan Akerson's 1958 Chevrolet Corvette sells at Barrett-Jackson for $270,000 [w/video]

GM CEO Dan Akerson's 1958 Chevrolet Corvette sells at Barrett-Jackson for $270,000 [w/video] originally appeared on Autoblog on Fri, 18 Jan 2013 20:29:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>1958 chevrolet corvettebarrett-jacksonbarrett-jackson 2013chevroletcorvettedan akersonspeedFri, 18 Jan 2013 20:29:00 EST http://www.autoblog.com/feed/20433539/article-comments.xml http://www.autoblog.com/feed/2013/01/18/gm-ceo-dan-akersons-1958-chevrolet-corvette-w-video/20433539/article-detail.xml 20433539 http://www.blogcdn.com/www.autoblog.com/media/2013/01/dan-akerson-1958-corvette-bj_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2013/01/dan-akerson-1958-corvette-bj.jpg <![CDATA[GM CEO promises RHD Corvette, international operations boss says otherwise]]>http://www.autoblog.com/2013/01/15/gm-ceo-promises-rhd-corvette-international-operations-boss-says/http://www.autoblog.com/2013/01/15/gm-ceo-promises-rhd-corvette-international-operations-boss-says/http://www.autoblog.com/2013/01/15/gm-ceo-promises-rhd-corvette-international-operations-boss-says/#commentsFiled under: , , , , , ,



Affirmation, clarification, smack-down refutation - that was the order of responses when the issue of a right-hand0drive C7 Corvette came up at the Detroit Auto Show. When an Australian news outlet asked General Motors CEO Dan Akerson whether the new Stingray would get an RHD version, he answered "yes" and "soon."

That same question was put to lead Corvette engineer Tadge Juechter, and he began by stating that they've been wanting Corvette to get to Australia and "Our plan is to make this a truly global car." He then clarified Akerson's answer with "It'll be years away rather than soon.

Nevertheless, even after Juechter's curb-your-enthusiasm answer and Holden chief Mike Devereaux's sidestepping the line of fire by offering no comment, the responses led to this headline in Australia's Daily Telegraph newspaper: "Finally, iconic American sportscar, the Corvette, set for Australian showrooms."

Cue Tim Lee, GM's vice president of global manufacturing, president of its international operations and "the operating guy in charge." When the same query was put to him the day after it was put to Akerson, Lee said, "I have no idea what [Akerson] said but we have no plan to put a right-hand-drive under that bonnet. The Corvette is a Chevrolet, it's not a Holden, it never will be, next question." He added that there isn't even a plan for it, much less any engineering behind it.

His journalist questioners, sniffing blood in the contradiction, wouldn't let it go. After being led back to the subject of Akerson's "Yes" and Juechter's non-denial again and again, Lee finally said "This is a non-story from my point of view. You can write what you want to write, I really don't give a [expletive]. But it is not in the mainstream plan."

So there you have... something. The Brits and Japanese will get the new Corvette because it's legal to drive left-hand drive cars in those countries. For you Aussies, the 60-year wait continues.

GM CEO promises RHD Corvette, international operations boss says otherwise originally appeared on Autoblog on Tue, 15 Jan 2013 13:35:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>2013 detroit auto show2014 chevrolet c7 corvette2014 chevrolet corvetteaustraliac7c7 corvettechevroletcorvettedan akersondetroitdetroit 2013general motorsgmleft hand drivelhdrhdright hand driveTadge JuechterTue, 15 Jan 2013 13:35:00 EST http://www.autoblog.com/feed/20429277/article-comments.xml http://www.autoblog.com/feed/2013/01/15/gm-ceo-promises-rhd-corvette-international-operations-boss-says/20429277/article-detail.xml 20429277 http://www.blogcdn.com/www.autoblog.com/media/2013/01/rhdcorvettecoming_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2013/01/rhdcorvettecoming.jpg <![CDATA[GM's Ed Welburn brings vintage Corvettes by <i>Jay Leno's Garage</i>]]>http://www.autoblog.com/2012/12/28/gms-ed-welburn-brings-vintage-corvettes-by-jay-lenos-garage/http://www.autoblog.com/2012/12/28/gms-ed-welburn-brings-vintage-corvettes-by-jay-lenos-garage/http://www.autoblog.com/2012/12/28/gms-ed-welburn-brings-vintage-corvettes-by-jay-lenos-garage/#commentsFiled under: , ,



There're still a couple more weeks until we get our first official look at the next generation of the Chevrolet Corvette with the all-new C7, but Ed Welburn, Vice President of General Motors Global Design, recently hung out with Jay Leno to show off a quartet of classic 'Vettes of historic importance. Corvette fans will definitely want to check out the latest episode of Jay Leno's Garage.

Three of the four cars reside in the GM Heritage Center, and the fourth is owned by none other than GM president Dan Akerson who plans to auction off his mint 1958 Corvette at Barrett-Jackson next month to raise money for the Habitat for Humanity in Detroit. Leno also got to check out a fully restored 1953 Corvette, of which less than 1,000 were ever built, in addition to the highly desirable 1963 split-window. The true gem of this collection, though, is the 1959 Stingray racecar that was driven by Elvis Presley, heavily influenced the styling of the C3 'Vette (as well as the C7 according to Welburn), first use of the "Stingray" name on a Corvette and Leno referred to it as "the rarest, most valuable Corvette there is."

Check out the video posted after the jump to hear both guys talk about the iconic sports cars, which includes Welburn describing where the split-window design came from and listen to Leno start up the '59 Stingray.

Continue reading GM's Ed Welburn brings vintage Corvettes by Jay Leno's Garage

GM's Ed Welburn brings vintage Corvettes by Jay Leno's Garage originally appeared on Autoblog on Fri, 28 Dec 2012 19:15:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>1953 chevrolet corvette1958 chevrolet corvette1959 stingray racecar1963 chevrolet corvettechevroletchevycorvettedan akersoned welburnjay lenojay lenos garagevideovideosFri, 28 Dec 2012 19:15:00 EST http://www.autoblog.com/feed/20412251/article-comments.xml http://www.autoblog.com/feed/2012/12/28/gms-ed-welburn-brings-vintage-corvettes-by-jay-lenos-garage/20412251/article-detail.xml 20412251 http://www.blogcdn.com/www.autoblog.com/media/2012/12/jay-leno-garage-vettes_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2012/12/jay-leno-garage-vettes.jpg <![CDATA[GM builds prototype handcycles for wounded vets [w/video]]]>http://www.autoblog.com/2012/12/13/gm-builds-prototype-handcycles-for-wounded-vets-w-video/http://www.autoblog.com/2012/12/13/gm-builds-prototype-handcycles-for-wounded-vets-w-video/http://www.autoblog.com/2012/12/13/gm-builds-prototype-handcycles-for-wounded-vets-w-video/#commentsFiled under: , ,

Hand cycle built by GM

Chevrolet and students from Michigan Technological University have teamed up to build some prototype hand cycles, designed to allow wounded veterans to compete in racing events.

Three-wheel hand cycles have proven useful for amputee or other seriously injured athletes in the past, as the design allows for them to lean forwards while pedaling with their hands. This new cycle, designed by MTU engineering students, has been built to be stronger, more comfortable and more portable than existing hand cycles. In fact, during the design process, students and their Chevy engineer mentors spent time with wounded vets to better understand their cycling needs. The result was a design that incorporated high-strength steel alloys as well as improved, more comfortable restraints.

General Motors CEO Dan Akerson announced that the automaker plans to build ten of the prototype cycles, all to be used in marathons next year by the Achilles Freedom Team of Wounded Veterans. The project cycle made its debut at the yearly Army-Navy football game this past weekend, on a special vehicle display and during an on-field first-quarter appearance. Read on for the full GM press release, or scroll down to see a short video about the build.

Continue reading GM builds prototype handcycles for wounded vets [w/video]

GM builds prototype handcycles for wounded vets [w/video] originally appeared on Autoblog on Thu, 13 Dec 2012 13:29:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>achilles freedom team of wounded veteransarmy navy gamechevroletchevydan akersongmhand cyclehandcyclemichigan technological universitymtuwounded veteransThu, 13 Dec 2012 13:29:00 EST http://www.autoblog.com/feed/20398823/article-comments.xml http://www.autoblog.com/feed/2012/12/13/gm-builds-prototype-handcycles-for-wounded-vets-w-video/20398823/article-detail.xml 20398823 http://www.blogcdn.com/www.autoblog.com/media/2012/12/gm-hand-cycle-wounded-vets-628_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2012/12/gm-hand-cycle-wounded-vets-628.jpg <![CDATA[Chevy Malibu to get early refresh to combat slow sales, poor reviews]]>http://www.autoblog.com/2012/12/07/chevy-malibu-to-get-early-refresh-to-combat-slow-sales-poor-rev/http://www.autoblog.com/2012/12/07/chevy-malibu-to-get-early-refresh-to-combat-slow-sales-poor-rev/http://www.autoblog.com/2012/12/07/chevy-malibu-to-get-early-refresh-to-combat-slow-sales-poor-rev/#commentsFiled under: , ,



We don't have to look much further than the 2013 Ford Fusion as proof that family cars should no longer be boring to look at, and after apparently taking some heat for the redesign of the 2013 Chevrolet Malibu, Chevrolet is reportedly preparing an emergency redesign of its midsize sedan in a similar fashion that we just saw happen to the 2013 Honda Civic. Automotive News is reporting that Chevy is working on refreshing the Malibu by the end of 2013, which is about 18 months after the new car went on sale earlier this year.

General Motors CEO Dan Akerson was quoted as saying that an enhanced, but "not dramatic," design update is being planned for the Malibu by this time next year, and it will at least include a new front fascia. Based on the styling direction at Chevrolet as seen on the new Impala and Traverse, we expect the updated 'Bu to get more of an angular look especially in regards to the grille and headlights.

The sooner-than-expected design change is apparently a result of criticisms from dealers and the media as well as unimpressive sales figures. AN says that Malibu sales were up four percent earlier in the year due to increased incentives to move the 2012 models, but once the full model year changeover took place (in September and October), sales dropped by three percent.

Chevy Malibu to get early refresh to combat slow sales, poor reviews originally appeared on Autoblog on Fri, 07 Dec 2012 09:28:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>2013 chevrolet malibu2014 chevrolet malibuchevroletchevydan akersonmaliburedesignFri, 07 Dec 2012 09:28:00 EST http://www.autoblog.com/feed/20396190/article-comments.xml http://www.autoblog.com/feed/2012/12/07/chevy-malibu-to-get-early-refresh-to-combat-slow-sales-poor-rev/20396190/article-detail.xml 20396190 http://www.blogcdn.com/www.autoblog.com/media/2012/09/2013-chevrolet-malibu-25-fd_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2012/09/2013-chevrolet-malibu-25-fd.jpg <![CDATA[How Detroit is being dragged down by the ills of Europe]]>http://www.autoblog.com/2012/10/04/how-detroit-is-being-dragged-down-by-the-ills-of-europe/http://www.autoblog.com/2012/10/04/how-detroit-is-being-dragged-down-by-the-ills-of-europe/http://www.autoblog.com/2012/10/04/how-detroit-is-being-dragged-down-by-the-ills-of-europe/#commentsFiled under: , , , ,

Big Three Bracing For Bad News From Overseas



Folks in Detroit could be in for some bad news in a few weeks, and that has nothing to do with who they're planning to vote for in the upcoming election.

In fact, General Motors and Ford will be rolling out their third-quarter earnings just in time for the presidential balloting, and while the U.S. economy has buoyed the industry at a level few might have expected at the start of 2012, the latest quarterly numbers will be hard hit by events on the other side of the Atlantic.

Between them, General Motors and Ford are likely to lose in excess of $500 million - some analysts put the red ink closer to $1 billion - for the July-September quarter. And for the full year, the domestics could run up a deficit closer to $4 billion if you include Fiat SpA, the Italian partner of Chrysler, according to analysts' consensus estimates.

Paul EisensteinPaul A. Eisenstein is Publisher of TheDetroitBureau.com and a 30-year veteran of the automotive beat. His editorials bring his unique perspective and deep understanding of the auto world to Autoblog readers on a regular basis.

Continue reading How Detroit is being dragged down by the ills of Europe

How Detroit is being dragged down by the ills of Europe originally appeared on Autoblog on Thu, 04 Oct 2012 19:03:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>alan mulallycarlos ghosnchevroletchryslerdan akersondetroiteuropefeaturedgeneral motorsmartin winterkornopelsergio marchionnesteve girskyvolkswagenThu, 04 Oct 2012 19:03:00 EST http://www.autoblog.com/feed/20342023/article-comments.xml http://www.autoblog.com/feed/2012/10/04/how-detroit-is-being-dragged-down-by-the-ills-of-europe/20342023/article-detail.xml 20342023 http://www.blogcdn.com/www.autoblog.com/media/2012/10/ilfullxfull.307243403-opt_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2012/10/ilfullxfull.307243403-opt.jpg <![CDATA[GM headed for another big overhaul?]]>http://www.autoblog.com/2012/08/23/gm-headed-for-another-big-overhaul/http://www.autoblog.com/2012/08/23/gm-headed-for-another-big-overhaul/http://www.autoblog.com/2012/08/23/gm-headed-for-another-big-overhaul/#commentsFiled under:



We talk a lot about global platforms and global powertrains, but the truly global corporation is much stronger in idea than in practice. General Motors CEO Dan Akerson is the latest to take a stab at creating a truly international company, preparing to stir up the entire organization with sweeping mission statements like "We've got to get this company and its culture into the 21st century," and "We need to take the bureaucracy out of the business."

According to a report from TheDetroitBureau.com, Akerson's issue is that GM operates in "legal entities," "fiefdoms" and silos of regional authority that don't make the most of the company or its brands. According to insiders, Akerson is planning a massive reorganization that would create global leadership in areas like purchasing and product development, to go along with those positions that already exist for marketing and design. The aim is to let the company focus on getting good products out instead of attending meetings, getting approvals and making plans.

More practical implementations of the restructuring would be instituting a new accounting system so that it can better track sales by country and a new information technology system to replace the one that lost track of who was working on what. Akerson's also got an eye on rationalizing parts, apparently, wanting to reduce the wild variety in common parts used by the company's brands. For example, The Detroit News notes that GM employs 30 different door latches across its models - rival Toyota only has five.

There doesn't appear to be anyone who thinks the idea of a complete overhaul, where top-down meets ground-up, is a bad thing for GM to do. Analysts do caution, however, that this is a task GM has tried before, and in addition to its inherent difficulty, it's probably easier to get wrong than get totally right. But Akerson sees it as his "patriotic duty" to fix GM, and as everyone else would probably also admit, it's better than doing nothing.

GM headed for another big overhaul? originally appeared on Autoblog on Thu, 23 Aug 2012 10:01:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>akersondan akersongeneral motorsgmgm restructuringreorganizationrestructuringThu, 23 Aug 2012 10:01:00 EST http://www.autoblog.com/feed/20307001/article-comments.xml http://www.autoblog.com/feed/2012/08/23/gm-headed-for-another-big-overhaul/20307001/article-detail.xml 20307001 http://www.blogcdn.com/www.autoblog.com/media/2012/08/dan-akerson-in-front-of-gm-podium_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2012/08/dan-akerson-in-front-of-gm-podium.jpg <![CDATA[Akerson auctioning off personal 1958 Corvette for charity [w/video]]]>http://www.autoblog.com/2012/08/17/akerson-auctioning-off-personal-1958-corvette-for-charity-w-vid/http://www.autoblog.com/2012/08/17/akerson-auctioning-off-personal-1958-corvette-for-charity-w-vid/http://www.autoblog.com/2012/08/17/akerson-auctioning-off-personal-1958-corvette-for-charity-w-vid/#commentsFiled under: , , , , ,

Dan Akerson's 1958 Corvette to cross the auction block for charity

Dan Akerson will be taking a final parade lap at this weekend's Woodward Dream Cruise. No, much to the chagrin of the punditry, he's not stepping down as CEO of General Motors, just driving his 1958 Chevrolet Corvette for the last time before sending it off to auction for charity.

Akerson's benevolence will benefit Habitat for Humanity Detroit, which is fighting urban blight in the city's Morningside Commons neighborhood on the east side. GM's CEO has already given Habitat a million bucks this year, according to the press release. Details of when and where the car will be sold "will be announced shortly."

Clearly Akerson wants to be a role model for the sort of corporate stewardship GM sees as necessary to revitalize its hometown. Scroll down to see video of the car.

Continue reading Akerson auctioning off personal 1958 Corvette for charity [w/video]

Akerson auctioning off personal 1958 Corvette for charity [w/video] originally appeared on Autoblog on Fri, 17 Aug 2012 18:32:00 EST. Please see our terms for use of feeds.

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GM Chairman and CEO Dan Akerson

You have to feel for Dan Akerson. Not only is the guy stuck parking his Chevrolet Volt at the country club next to all those 500-plus-horsepower tarmac terrors from Audi, BMW and Mercedes-Benz, but he's woefully underpaid.

So what's the General Motors Chaiman and CEO to do? Take matters into his own hands - like a boss. According to The Detroit News, Akerson bought 25,000 shares of GM stock this week, investing a cool half-a-million bucks in his own company. The move comes despite Akerson having "incurred significant paper losses" of about $1.8 million on his GM stock holdings, now reported at 272,838 shares.

A GM spokesman told the News that the latest stock purchase was a personal investment. Because the man has to get paid.

CEO Akerson buys over $500K in GM stock originally appeared on Autoblog on Thu, 09 Aug 2012 16:31:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>akersondan akersongmgm stockgm stock priceThu, 09 Aug 2012 16:31:00 EST http://www.autoblog.com/feed/20297560/article-comments.xml http://www.autoblog.com/feed/2012/08/09/ceo-akerson-buys-over-500k-in-gm-stock/20297560/article-detail.xml 20297560 http://www.blogcdn.com/www.autoblog.com/media/2012/08/akerson-opt_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2012/08/akerson-opt.jpg <![CDATA[Akerson: GM Marketing a group effort]]>http://www.autoblog.com/2012/08/07/akerson-gm-marketing-a-group-effort/http://www.autoblog.com/2012/08/07/akerson-gm-marketing-a-group-effort/http://www.autoblog.com/2012/08/07/akerson-gm-marketing-a-group-effort/#commentsFiled under: , ,

chevy runs deep

Joel Ewanick split, and many suspected he was forced out the door of the Renaissance Center by General Motors Chairman and CEO Dan Akerson. We may never know if the move was a result of anger in the boardroom, but Akerson took the time during GM's quarterly earnings conference call to point out that GM Marketing is more than one man.

"The fundamental approach is, no change" said Chief Financial Officer Dan Ammann, making earlier statements about Ewanick's conduct not meeting the expectations of General Motors seem all the more personal. On a strictly professional basis, a deal with two English soccer teams and unfavorable advertising metrics, not to mention market share loss, have been cited as reasons for Ewanick's ouster.

Curiously, though, in the face of what seem to be plenty of examples of missed expectations and the need for a revamp, Akerson defends the automaker's strategy, which was presumably presided over by Ewanick. "I know a lot of public views this as a personality-driven industry," clarified Akerson, "It's a team effort. What you saw in the marketplace was a thought-out strategy that was agreed upon as a team." Firing the coach is a common move for teams that don't win, for sure, but taking a business-as-usual approach doesn't tend to clinch victories, and advertising decided upon by a committee tends to only excite said committee.

Akerson: GM Marketing a group effort originally appeared on Autoblog on Tue, 07 Aug 2012 09:13:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>dan akersongeneral advertising quarterly salesgeneral motorsgeneral motors advertisinggeneral motors dan akersongeneral motors joel ewanickgmjoel ewanickTue, 07 Aug 2012 09:13:00 EST http://www.autoblog.com/feed/20293773/article-comments.xml http://www.autoblog.com/feed/2012/08/07/akerson-gm-marketing-a-group-effort/20293773/article-detail.xml 20293773 http://www.blogcdn.com/www.autoblog.com/media/2011/09/chevy-runs-deep_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2011/09/chevy-runs-deep.jpg <![CDATA[Opel turnaround architect Girsky steps in as interim GM of Europe boss]]>http://www.autoblog.com/2012/07/12/opel-turnaround-architect-girsky-steps-in-as-interim-gm-of-europ/http://www.autoblog.com/2012/07/12/opel-turnaround-architect-girsky-steps-in-as-interim-gm-of-europ/http://www.autoblog.com/2012/07/12/opel-turnaround-architect-girsky-steps-in-as-interim-gm-of-europ/#commentsFiled under: , , , ,



Europe is a mess. The French auto industry is doing its best imitation of 1980s-era Flint, Michigan, Mitsubishi just sold an assembly plant for a single euro and pundits are calling for Ford and General Motors to just bail on the whole continent, where sales are dropping at an alarming rate.

Good luck, Steve Girsky.

General Motors announced today that Karl-Friedrich Stracke, its European president and CEO of the Opel empire is out, and vice chairman Steve Girsky has the reins, at least on an interim basis. Girsky had been serving as chairman of the Opel Supervisory Board, crafting a turnaround plan for the beleaguered GM subsidiary. Stracke will "take on special assignments reporting to GM chairman and CEO Dan Akerson," according to an official press release. (Bonus points are duly awarded for not saying that he would be spending more time with his family.)

According to Fortune, Opel has bled some $16.4 billion since 1999 and probably can't do much to right its financial fortunes until 2015, due to a labor agreement that forbids plant closures. The report indicates that this new assignment for Girsky is likely an audition for Akerson's job. Should he manage to produce any positive results with Opel, it could raise his standing within GM.

Continue reading Opel turnaround architect Girsky steps in as interim GM of Europe boss

Opel turnaround architect Girsky steps in as interim GM of Europe boss originally appeared on Autoblog on Thu, 12 Jul 2012 14:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>akersondan akersoneuropegeneral motorsgirskygmgm of europekarl-friedrich strackeopelsteve girskystrackevauxhallThu, 12 Jul 2012 14:00:00 EST http://www.autoblog.com/feed/20276867/article-comments.xml http://www.autoblog.com/feed/2012/07/12/opel-turnaround-architect-girsky-steps-in-as-interim-gm-of-europ/20276867/article-detail.xml 20276867 http://www.blogcdn.com/www.autoblog.com/media/2012/07/girsky-opt_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2012/07/girsky-opt.jpg <![CDATA[GM sits down with Facebook, may friend each other again]]>http://www.autoblog.com/2012/07/07/gm-sits-down-with-facebook-may-friend-each-other-again/http://www.autoblog.com/2012/07/07/gm-sits-down-with-facebook-may-friend-each-other-again/http://www.autoblog.com/2012/07/07/gm-sits-down-with-facebook-may-friend-each-other-again/#commentsFiled under: ,

GM Facebook Page

General Motors and Facebook have restarted talks. According to Adweek.com, Joel Ewanick, GM's head of global marketing, and Facebook global head of sales Carolyn Everson recently met during the Cannes Lions Festival of Creativity in France. Those conversations eventually led to talks between GM CEO Dan Akerson and Facebook chief operating officer Sheryl Sandberg, indicating the automaker may be interested in restarting its advertising efforts with the social media giant.

GM dealt Facebook a serious blow when the manufacturer pulled its ad commitments with Facebook just days before the site went public. The automaker reportedly spent $10 million on Facebook ads, but said the efforts were largely wasted. The departure sparked a larger conversation about the value of social media marketing and may have contributed to Facebook's stock faltering shortly after going public.

Neither GM nor Facebook are commenting on whether the automaker will reopen its advertising account.

GM sits down with Facebook, may friend each other again originally appeared on Autoblog on Sat, 07 Jul 2012 12:31:00 EST. Please see our terms for use of feeds.

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