General Motors has greatly improved the quality of their vehicles and now poses strong competition for the cars at Bossier City Honda. That is an important thing for a company that was bailed out by the government not too many years ago, and is still majorly owned by the U.S. Government, approximately 61%. New Orleans Chevrolet may not sell the most cars when compared to other brands, but they don't have a majority of their company stock sitting in the government's hands, now do they!
When an auto executive's salary is reported, don't assume they are getting monthly installments of the total on their paychecks. Akerson is set to receive $1.7 million in cash over the course of the year, and the remainder of his pay package will come from General Motors stock. Akerson is going to get $5.3 million worth of stock over a three year period beginning at the end of September 2011. He will also get restricted stock in the amount of $2 million, starting in 2012 through a long-term plan.
This really is a modest salary, and it is the same that Akerson's recent predecessor, Ed Whitacre, also received. Both men joined the board in July of 2009, and Whitacre stepped down right before the beginning of the public stock offering was set to take place later this year. To put it all in perspective, the former CEO Rick Wagoner earned $14.9 million in 2008 until he was asked to resign by the Obama administration.
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