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.
