Correspondent, Detroit
Ben's Feed
Jan 23, 2014

New GM chief says won’t deviate from predecessor’s plan

DETROIT, Jan 23 (Reuters) – General Motors Co’s new
chief executive, Mary Barra, said on Thursday she has no plans
to deviate from predecessor Dan Akerson’s strategy as GM seeks
profitability everywhere it operates.

“There is no right or left turn,” said Barra, who took the
wheel from Akerson last week as chief of the biggest U.S.
automaker.

Jan 21, 2014
Jan 17, 2014

Analysis: Chevy’s exit from Europe weakens GM’s deal with Manchester United

DETROIT (Reuters) – General Motors Co’s recent decision to pull its well-known Chevrolet brand out of Europe suddenly makes its expensive sponsorship deal with Manchester United, the world’s most recognized soccer club, look like less of a winner.

When the No. 1 U.S. automaker announced in 2012 that it was paying $559 million over seven years to slap the Chevy bowtie logo on the jerseys of “Man U” players, the steep price tag turned heads. Now, in light of GM’s announcement last month that Chevrolet will largely exit Europe by the end of 2015, the contract has become even more of an overpay because players will be wearing a logo for a product that is nonexistent in the region.

Jan 17, 2014

Chevy’s exit from Europe weakens GM’s deal with Man Utd

DETROIT, Jan 17 (Reuters) – General Motors Co’s
recent decision to pull its well-known Chevrolet brand out of
Europe suddenly makes its expensive sponsorship deal with
Manchester United, the world’s most recognized soccer club, look
like less of a winner.

When the No. 1 U.S. automaker announced in 2012 that it was
paying $559 million over seven years to slap the Chevy bowtie
logo on the jerseys of “Man U” players, the steep price tag
turned heads. Now, in light of GM’s announcement last month that
Chevrolet will largely exit Europe by the end of 2015
, the contract has become even more of an overpay
because players will be wearing a logo for a product that is
nonexistent in the region.

Jan 16, 2014

Former GM CEO urges new leaders to avoid past mistakes

DETROIT (Reuters) – Dan Akerson, who retired as chief executive of General Motors Co (GM.N: Quote, Profile, Research, Stock Buzz), on Wednesday, urged his replacement and others at the No.1 U.S. automaker to avoid the decades of short-term thinking that led to its 2009 bankruptcy.

Akerson, who was replaced on Wednesday by the industry’s first female CEO, Mary Barra, told a roomful of industry executives that GM was no longer “fragile” and has the strength to succeed, but needs to maintain changes such as a competitive labor cost structure as it moves forward.

Jan 14, 2014
Jan 14, 2014
Jan 14, 2014
Jan 14, 2014
Jan 14, 2014

GM to pay first quarterly dividend in almost six years

DETROIT (Reuters) – General Motors Co (GM.N: Quote, Profile, Research, Stock Buzz) will pay the first quarterly dividend on its common stock in almost six years, marking another step in the U.S. automaker’s recovery from its bankruptcy in 2009.

The No. 1 U.S. automaker, which last paid a dividend in June 2008 before it moved to save money during the U.S. recession, said it will pay shareholders a quarterly dividend of 30 cents a share, payable on March 28 to shareholders of record on March 18. In 2008, its quarterly dividend was 25 cents a share.

    • About Ben

      "Ben Klayman is based in Detroit and in April was named leader of the global automotive team for Reuters. Previously, Ben covered the business of sports as well as consumer and retail for three years and led the manufacturing/housing team for four years. He also covered the telecommunications sector for three years. He joined Reuters in Detroit in 1998 to cover autos. Prior to joining Reuters, he worked at a series of daily newspapers in Ohio and Maryland. Ben graduated from Washington University in St. Louis in 1989 with a bachelor's degree in English literature."
      Joined Reuters:
      1998
    • More from Ben

    • Contact Ben

    • Follow Ben