Big Pharma Buy Incites U.S. Stocks to Rise
Big Pharma Buy Incites U.S. Stocks to Rise
Valeant Pharmaceuticals International Inc. Offers to Buy Botox Giant Allergan Inc.
Valeant Pharmaceuticals International Inc. Offers to Buy Botox Giant A...
U.S. Stocks Advance
U.S. Stocks Advance
Hedge Funds Lowered Bullish Bets on Gold
Hedge Funds Lowered Bullish Bets on Gold
Job Listings

CEO of General Motors Discusses Company’s Credit Plans

 

The CEO of General Motors, Dan Akerson, said on Wednesday that he hopes the company reacquires investment-grade credit status in 2013, according to The Associated Press. Akerson spoke with reporters, saying that General Motors is still working with credit rating agencies in an effort to increase its status from junk. It has been in the tank since 2005.

 

Akerson noted that the recent $11 billion credit line for General Motors received an investment grade rating, which proves that credit ratings agencies are behind banks when it comes to issuing ratings.



Get JD Journal in Your Mail
Subscribe to our FREE daily news alerts and get the latest updates on the most happening events in the legal, business, and celebrity world. You also get your daily dose of humor and entertainment!!


 

Lower interest rates are acquired by companies who have investment grade status when they decide to borrow money. Sales for General Motors in North America are expected to outpace the rest of the market in 2013, according to Akerson. In 2012, sales for General Motors rose 3.7 percent, which was much slower than the 13 percent increase across the industry.

 

General Motors has also predicted that total industry sales in the United States will increase to a range of 15 million to 15.5 million in 2013 compared to the 14.5 million in 2012. Akerson also offered a forecast of small growth in General Motors’ market share in the United States for 2013 because of new vehicles such as the Cadillac ATS.

 

Akerson also told reporters that he is planning to be the CEO of General Motors at this same time in 2014, but after that, he just does not know yet. Periodic talent reviews are conducted by the board of General Motors as part of the company’s succession plans. Akerson said that there is a “stable of very capable leaders” to succeed him at General Motors.

 

He also noted that General Motors is talking with the United Auto Workers union regarding lump-sum pension buyouts, but he would not elaborate on the issue. White collar workers were offered buyouts from General Motors and even switched the salaried pension plan to an insurance company annuity in 2012.

Did you like this? Share it:
CEO of General Motors Discusses Company's Credit Plans by

Tagged: , ,

Posted by on January 9, 2013. Filed under Business News. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.