By Andrew Ganz
Friday, Dec 10th, 2010 @ 10:41 am
 
As part of its packaged bankruptcy and government bailout, General Motors was forced to impose pay restrictions for white collar executives. Now, the automaker's CEO says he wants the United States Treasury to allow the automaker to pay higher salaries in order to keep high-ranking workers from leaving the automaker.

"We have to be competitive and retain talent," GM CEo Dan Akerson told reporters at the Economic Club of Washington, D.C. "We're starting to lose them now."

Now that the Treasury's stake in GM has been reduced from 61 to 33 percent - following the automaker's IPO last month - Akerson says that the automaker should no longer be bound from the same guidelines as before.

"We are humbled by our near-death experience," he said. But GM is a "new company... all of which is resulting in improved earnings and cash flow."
  

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