Correspondent, Detroit
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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.

Jan 14, 2014

Tesla demand surges, stock rises 12 percent

DETROIT (Reuters) – Electric car maker Tesla Motors Inc said on Tuesday deliveries of its Model S sedan in the fourth quarter blew past what the company had forecast, sending shares up 12 percent.

Tesla delivered almost 6,900 Model S sedans in the quarter, 20 percent above what the company had forecast, Jerome Guillen, vice president of global sales and service, said at the Detroit auto show.

Jan 14, 2014

‘New’ GM has old problem: stagnant U.S. market share

DETROIT (Reuters) – General Motors Co (GM.N: Quote, Profile, Research, Stock Buzz) has much to celebrate at this year’s Detroit auto show, the first since 2009 that the company is not partly owned by the U.S. government.

Last month, it named its first female CEO and automotive writers on Monday voted the Chevrolet Corvette Stingray and Silverado as car and truck of the year, respectively.

Jan 13, 2014
Jan 13, 2014
    • 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."
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