General Motors

Topics: General Motors, Automotive industry, Initial public offering Pages: 4 (1220 words) Published: September 17, 2013
General Motors

Revonda McGaha

Wilmington University

General Motors Company, known as GM, was founded in 1908 in Flint, Michigan by William C. Durant and Charles Stewart Mott. The present chairman and CEO is Daniel Akerson. Akerson joined GM's board in 2009 as the company went through a bankruptcy reorganization. He became CEO Sept. 1, 2010, and led GM's 2010 return to the stock market — at the time the largest initial public offering in U.S. history (Detroit Free Press, 2013). The headquarters for GM is presently located in Detroit, Michigan. GM specializes in designing, manufacturing, marketing and distributing cars, trucks and vehicle parts. The brands under GM include Chevrolet, Buick, GMC, Cadillac, Baojun, Holden, Isuzu, Jie Fang, Opel, Vauxhall and Wuling. GM employs over 200,000 people and has 396 facilities on six continents. GM is divided into five business segments: GM North America, GM Europe, GM International Operations, GM South America and GM Financial. The two biggest markets for GM are the U.S. and China. According to Dan Akerson they continually do well in both markets and are making further progress in their European business (General Motors, 2013). In July, 2009, GM filed for bankruptcy. Later that year, GM emerged from a government backed Chapter 11 reorganization. Then in 2010 GM made an initial public offering (IPO) that was one of the world’s largest and helped them to return to making a profit later that year. An IPO is a type of public offering where shares of stock in a company are sold to the general public. Through this process GM, a private company, became a public company. Because of the bankruptcy GM had to start from the beginning and figure out what caused them to go under previously and what they needed to do to become a top organization again. With the start of the “new” General Motors they were starting over so they created a new clearer vision and a new business model.

As of 2012, GM was ranked...

References: Detroit Free Press. (August 5, 2013). General Motors CEO Dan Akerson Shares Top 9 Leadership Lessons. Retrieved August 21, 2013.
Jones, Gareth R. & George, Jennifer M. (2013). Essentials of Contemporary Management. The McGraw-Hill Companies, Inc.
General Motors. (July 25, 2013). Investors: Earnings Releases. GM Reports Second Quarter Net Income of $1.2 Billion. Retrieved August 21, 2013.
General Motors. (2010). General Motors Company 2010 Annual Report. Retrieved August 21, 2013.
Indeed. (2013). GM Employer Reviews. Retrieved August 21, 2013.
Bloomsburg Businessweek. (July 25, 2013). General Motors North America, Inc. Announces Earnings Results for the Second Quarter and Six Months Ended June 30, 2013. Retrieved on August 22, 2013.
The New York Times. (August 21, 2013). General Motors. Retrieved August 21, 2013.
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