General Motors’ May Lose Top Employees Due to Government Deal
GM (NYSE:GM) may have a hard time retaining top employees due to pay restrictions the company agreed to in 2009 as a condition for receiving government aid, says North American chief Mark Reuss. Even 13 months after General Motors (NYSE:GM) said it would try to ease some of the restrictions, many are still in place.
As the car company is still dedicated to succeeding in the EV market, they have a specific contingency plan to put into effect if another blaze in a Chevrolet Volt sparks a public reaction or Congressional hearing, says General Motors (NYSE:GM) marketing exec Joel Ewanick. More to the point, he assures that “Volts are safe and won’t burn.”
Execs with GM and Ford (NYSE:F) both suggest that sales are strong this month through the first 10 days of the year. Although no one knows whether buyers are hitting the showrooms so far this year due to improved consumer feelings or if it’s just the mild winter, an overlooked factor to keep an eye on in 2012 is that cars in the U.S. are now an average of nearly 11 years old.
Here’s how shares of General Motors, Ford and Toyota are reacting to the news today:
General Motors Corporation (NYSE:GM): GM shares recently traded at $24.34, up $1.1, or 4.73%. They have traded in a 52-week range of $19.00 to $39.37. Volume today was 19,244,559 shares versus a 3-month average volume of 11,871,000 shares. The company’s trailing P/E is 5.32, while trailing earnings are $4.57 per share.
Toyota Motor Corp. (NYSE:TM): TM shares recently traded at $68.50, down $0.17, or 0.25%. They have traded in a 52-week range of $60.37 to $93.90. Volume today was 188,608 shares versus a 3-month average volume of 507,832 shares. The company’s trailing P/E is 41.17, while trailing earnings are $1.66 per share.
Ford Motor Co. (NYSE:F): F shares recently traded at $12.06, up $0.26, or 2.2%. They have traded in a 52-week range of $9.05 to $18.97. Volume today was 54,857,355 shares versus a 3-month average volume of 58,096,300 shares. The company’s trailing P/E is 7.23, while trailing earnings are $1.67 per share.
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