CEO Dan Akerson Says GM Made Progress Since the Bailout image

GM CEO Dan Akerson met yesterday, March 21st, with the lawmakers on Capitol Hill, telling them GM has been performing well since its bailout.

As GM was one of the targets during the presidential campaign, Akerson is trying his best to make the automaker look good and save its reputation in Washington. During the campaign President Obama was criticized by Republicans for his decision to approve the $85 billion auto bailout.

“We weren’t on any ballot last year, but we seem to be in every campaign,” Akerson told reporters after the 90-minute session with lawmakers. “We’re a commercial enterprise and our job — this generation of management’s job at General Motors — is to transform the company into the 21st century.”

In 2009, GM and its CEO Rick Wagoner were trying to get additional bailout funds from the Obama administration. In March 2009 the White House fired Wagoner and then decided to offer GM $30 billion more to the bailout, part of the automaker’s bankruptcy reorganization. In 2010 GM earned $23 billion, from which $8.1 billion have been invested in 34 plants in the US, adding 23,000 jobs since 2009.

“It was more than reassuring,” said Rep. Sander Levin, D-Royal Oak. “GM is scoring touchdowns. I think people are very much looking forward.”