General Motors is giving some 600,000 employees, retirees and dealers the chance to purchase stock in the resurgent company as the auto giant moves forward with its initial public offering, slated for next month.
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The federal government’s controversial decision to step in and save General Motors from insolvency was the right thing to do, says the automaker’s new Chief Executive Daniel Akerson.
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Akerson, who assumed the post Sept. 1, will also receive a portion of his salary in the form of stock, totaling $5.3 million, which will be paid out over three years beginning September 2011.
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