GM's Long-Term Plans for Repayment.

Can you even comprehend how much money $50 billion is?  Perhaps if you were Dan Akerson, CEO of General Motors, you might have a better idea.  A couple years ago, GM was financially bailed out by the U.S. Government in the amount of $50 billion, and that helped keep cars on the lots at Minneapolis Chevrolet.  Sadly, some jobs were lost during the financial crisis.  While Saginaw Ford Lincoln seems to be financially stable, other American auto maker Chrysler was also bailed out, but only in the amount of $12.5 billion.  Ford Motor Company is doing a great job of getting rid of brands that aren't making a profit.  Mercury will be phased out at the end of this year and there are rumors that Lincoln is soon to follow.

Akerson is the fourth CEO within the last two years at GM.  That overturn makes the employees, consumers, and potential investors a bit nervous.  Current CEO has some long-term plans to help the company out of financial ruins.  He wants to stay more competitive and stay ahead of the game.  The Kia Soul, which is available at any Seattle Kia dealer, is aiming itself directly at the youth market and Ford's SYNC technology is still on top of the game it created.  GM and its brands need to be setting the trends rather than following them.

One thing he is doing that is surprising many auto industry experts is he is refusing to budge on the current price of the Chevy Volt.  It is currently priced at $41,000 while the other new kid on the block the Nissan Leaf is only $32,780.  Akerson is standing behind the quality of the Volt and says that the price will come down on future models, but that their product is superior to Nissan's Leaf. 

CEO Akerson, GM bailout repayment, General Motors Akerson