Providers and Administrators in blue logo
MenuMENU
SearchSEARCH

GM CEO Akerson and Treasury's Geithner Meet in New York

October 12, 2010
2 min to read


WASHINGTON - General Motors CEO Dan Akerson held an introductory private meeting with U.S. Treasury Secretary Timothy Geithner, spokesmen for the government and the automaker told Automotive News.


GM is expected to launch an initial public offering of its stock as early as next month at an undisclosed price. The U.S. Treasury owns about 61 percent of the automaker after spending about $50 billion to rescue it.

Ad Loading...


GM spokesman Greg Martin and a Treasury spokesman today described the meeting in New York City as a “meet and greet.”


“This is the first time their schedules matched,” Martin said in an e-mail.


A Treasury spokesman said the meeting “will be a general discussion on the state of the industry and the business.”


Neither spokesman would discuss details about the meeting after it concluded.


In addition to its plans to offer shares to the public, GM also is giving about 600,000 employees and retirees in the United States and Canada the chance to buy the shares.

Ad Loading...


Akerson, a longtime telecommunications industry executive who later headed buyouts at The Carlyle Group equity firm, was named GM's CEO in August, when Ed Whitacre stepped down for a longer-term CEO to guide the company as it exits government ownership. Akerson had been a member of GM's board since it emerged from bankruptcy in July 2009.


While Akerson has not commented directly on the IPO due to U.S. securities regulations, he said last month that the process of paying back taxpayers could take "several years."

More Industry

Showroomby Lauren LawrenceMarch 4, 2026

Used-Vehicle Program Aims to Draw More Buyers

GM says more than 750 dealers across the U.S. are enrolled in CarBravo and that in January CarBravo dealers sold over two times the certified volume of Chevrolet, Buick and GMC dealers using traditional CPO.

Read More →
Industryby Hannah MitchellMarch 3, 2026

Auto Dealers Cautiously Hopeful

Though traffic and profits were down in the first quarter, normally optimistic franchisees and independents saw dim current conditions while holding out visions of healthy spring sales.

Read More →
Industryby StaffMarch 3, 2026

Black Book: Weekly Market Update

Conversions picked up last week at wholesale vehicle auctions, according to the market observer, as the spring shopping season appeared to begin.

Read More →
Ad Loading...
white Audi car in a service bay
Industryby Lauren LawrenceMarch 3, 2026

Recall Service Reaches Milestone

Eight state DMVs participate in the Vehicle Recall Search Service created by Carfax and the Alliance for Automotive Innovation to reduce the number of unaddressed vehicle recall repairs.

Read More →
Industryby Hannah MitchellMarch 2, 2026

Meet the Editor: Hannah Mitchell

A longtime newspaper journalist, Bobit Dealer Group's editor was raised on news back in the South. Now she brings that news-hound ethic to our four auto retail magazines.

Read More →
Summit Updatesby StaffMarch 2, 2026

Enhance Your Dealer's F&I Workflow at Agent Summit

This session is designed to equip general agents with actionable strategies that can help their dealers enhance the efficiency of financial services managers.

Read More →
Ad Loading...
Industryby Hannah MitchellMarch 2, 2026

Auto Brands Hold the Line on Retention

A flat national rate despite inflation and other financial challenges shows industry loyalty stability, annual Reynolds and Reynolds research finds.

Read More →
two people shaking hands in front of a new car that says Smarter Deals Ahead
IndustryMarch 1, 2026

The State of M&A in the F&I Sector and What to Expect in 2026

Providers and administrators should clearly and credibly communicate their experiences since their numbers will draw more scrutiny this year.

Read More →
Industryby Lauren LawrenceFebruary 25, 2026

Report Finds Year-End F&I Strength

Deal volume ebbed and flowed throughout 2025, but product performance remained steady, according to automotive technology and data intelligence solutions provider StoneEagle.

Read More →
Ad Loading...
Industryby Lauren LawrenceFebruary 24, 2026

China Leads Battery Production

Between 2020 and 2025, gigafactory capacity grew six-fold and is set to grow another 118% by 2030, according Benchmark data.

Read More →