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How High is Up for GM Stock?

Maker will rejoin S&P 500 “before too long,” says CEO Akerson.

by on May.20, 2013

GM CEO Dan Akerson delivers the commencement address to Notre Dam business grads over the weekend.

Perhaps it’s just a rising tide lifting all boats, but General Motors stock has hit its highest close in more than two years – beating the $33 a share price tag set during its initial public offering in November 2010.

The resurgence comes as the overall stock market charges from one record to another, but also suggests that investors are impressed by the performance of the giant maker which earlier this month announced $865 million in earnings for the first quarter of 2013.

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Though it has now delivered 3 consecutive quarterly profits, GM is still in the “early innings” of its recovery,” CEO Dan Akerson said over the weekend in South Bend, Indiana, where he delivered the commencement speech for Notre Dame business school graduates.  GM is “on the cusp,” said the executive, of regaining its investment grade debt rating back.  Akerson also suggested in his speech that the maker will rejoin the S&P 500 “before too long.”


CEO Akerson Buys $500,000 in GM Stock

Calls news leaks about Ewanick ouster “treason.”

by on Aug.10, 2012

GM CEO Dan Akerson during a visit to China.

General Motors Chairman and CEO Dan Akerson is putting his money where his mouth is.  During a conference call with GM staff, the executive insisted all the turmoil the maker has been through will ultimately pay off – something he said he would back up by personally investing more than $500,000 to purchase 25,000 shares of the automaker’s stock.

Akerson used the call to address the many challenges that have faced the automaker in recent weeks, notably including the widely discussed ouster of GM’s global marketing chief Joel Ewanick.  The CEO appeared to confirm news reports that Ewanick was ousted for violating company rules – but Akerson also expressed serious frustration that the story had played out in the headlines thanks to a series of leaks.

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He pointed to a news story that ran on the Bloomberg News service – and covered here on – which he indicated was essentially “verbatim what happened.”

“We have to stop leaking in this company,” Akerson asserted during yesterday’s GM conference call. “It’s an act of treason.  It really is.”