General Motors Does Not Need Government Aid Any More

According to the latest statement from the CEO of General Motors, the company will not request any more federal aid. General Motors stated that it may bring out its first public issue of shares as early as 2010 to start repaying the government. "The amount of financing provided was sufficient," said Fritz Henderson, GM CEO. His comments came in a meeting with Washington Post reporters and editors. He also stated that the US treasury is not directly involved in running the GM business. Currently the US treasury holds a 60 percent stake in the company. "They are the major shareholders so they do want to be kept informed about how the business is going," Henderson said. He also stated that government holds an “excellent chance” of seeing a return on their investments.

Obama administration had cut 30 percent of Henderson’s base salary during the re-invention of General Motors. It was cut to $1.3 million earlier this year when GM accepted government loans. He received compensation valued at about $8.7 million in 2008, but much of it included stock and options now nearly worthless due to GM's bankruptcy filing.

• Auto Expo 2012: Images of the recently unveiled Chevrolet MPV Enjoy           January 25, 2012
• GM - The largest automaker delivered 9 million vehicles in 2011           January 21, 2012
• GM to make next-generation Impala at its Oshawa, Ontario plant           December 30, 2011
• General Motors to expand its base in China           December 10, 2011
• GM offers repurchasing Chevrolet Volt from customers           December 05, 2011
• General Motors India wins ‘National Safety Award 2012’ for the 3rd consecutive year           November 30, 2011
• Auto companies crippled by falling rupee; General Motors, Toyota plans price hike           November 24, 2011
• General Motors and Toyota mull car price hike as depreciating rupee shrink margins           November 23, 2011
• General Motors India sales surge marginally in October 2011           November 02, 2011
• General Motors sales surge 17.35 percent in September           October 05, 2011
• General Motors plans to exhume 5 new cars by 2014 in India           September 27, 2011
• GM India to review vehicle prices next month, a small hike is expected           September 23, 2011
• GM Motors’ Hybrid Encounters Chinese Intervention           September 07, 2011
• GM and LG join hands           August 26, 2011
• GM joins hands with LG to develop electric cars           August 26, 2011