GM Will Hold Stockholder Meeting On Tuesday
DETROIT (WWJ) – General Motors will hold its 2011 annual meeting of stockholders on Tuesday morning at 9:30.
Chairman and CEO Dan Akerson will review highlights of GM’s first full year as a publicly-traded company and discuss plans to build on the company’s momentum.
Akerson will also reveal when he expects the Treasury to sell off its ownership stake in GM, as well as why he thinks the government should raise the debt ceiling and set, what he calls, a sensible energy policy. However, WWJ Automotive Analyst John McElroy thinks GM still has a couple of other concerns to address.
“GM’s pension obligations are still grossly under funded; they’ve gotta be addressed,” McElroy said. “At some point, too, I’ve gotta believe the company will start talking about the need to raise the dividend, or institute a dividend.”
Because the government still holds about 30% of GM’s stock, McElroy believes shareholders fear prices could go even lower. GM stock is currently almost 5 dollars below the IPO.
WWJ Newsradio 950 will be at the stockholders meeting. Stay with WWJ and CBS Detroit.com for continuing coverage.