GM Wants To Be Able To Pay Executives More Money

General Motors Co. Chief Executive Daniel Akerson says he’d like a little more leeway on executive compensation from the Obama administration because the company is having trouble attracting quality executives.

Mr. Akerson, in his first high-profile speech since becoming CEO in September, said he will meet Friday with the U.S. official who oversees pay limits placed on companies that received money from the Troubled Asset Relief Program. He said the auto maker has been able to attract quality executives despite the pay limits, “but we’re starting to lose them now.”

“We have to be competitive. We have to be able to attract good people,” Mr. Akerson said.

Akerson went on to say that the company is in a good position to be profitable in 2011.

GM Seeks More Leeway on Pay [WSJ]