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GENERAL MOTORS PAY TO RELAX RESTRICTIONS.
2012-12-27 19:23:17 Author:SystemMaster

General Motors (GM) Chief Executive Officer (CEO) Exxon December 12 expressed the hope that the Obama administration to lift the 2009 government bailout measures to implement the company''s executive remuneration policy, remuneration of senior executives of the company to relax restrictions.
Exxon after the date of its first high-profile inauguration speech said that since September this year, as General Motors CEO since the performance of the company continue to rise, "we need to further enhance competitiveness, the need to attract high quality talent, General Motors have the ability to do this. "But he also said that as executive compensation standards are government restrictions, the company soon lost those" high level of quality management. " He said it would accept the problem as soon as possible responsible for overseeing asset relief program (TARP) officials of this company meet.

General Motors in October successfully conducted an initial public offering (IPO), the U.S. Treasury''s stake dropped from 61% to 30% less. The ministry said in its IPO in the General Motors sold a total of 358.5 million shares, totaling 11.7 billion; if the underwriters exercise options on December 18 over-allotment option to sell an additional 15% of the shares, the Treasury is expected to be recycled 1.8 billion funds. In addition, GM also intends to repurchase the U.S. Treasury holdings of 2.1 billion preferred shares.

However, most of General Motors no longer holds a stake, the administration has not issued a timely manner to lift restrictions on the company''s executive compensation program. Up to now, the company the U.S. government''s restrictions on executive pay is still valid.