Roundup: Former GM chief paid $9M; Philly papers to be sold; more
Ex-GM CEO banked $9M in 2013
Former General Motors CEO Dan Akerson's compensation fell 18 percent last year to just over $9 million, which the company said was because of the timing of stock awards. Akerson, who stepped down in January, received $1.7 million in salary, the same as in 2012, but his stock awards fell by almost $2 million to $7.3 million. Spokesman Tom Henderson said the decline wasn't based on his performance. Akerson's short-term stock awards were bumped up in 2012 in anticipation of his 2014 retirement, and he gave up some long-term stock awards for 2013 when he retired in January, Henderson said. Akerson's replacement, Mary Barra, received compensation worth just over $5.2 million last year in her role as global product development chief, up 12 percent from 2012. GM has disclosed that she'll get a package this year that the company values at $14.4 million.
Philly newspapers to be sold to insiders
A Delaware judge has ruled that Philadelphia's two largest newspapers will be sold at an ascending-bid auction open only to insiders. The decision on Friday is a victory for majority owner George Norcross in his fight for control of The Philadelphia Inquirer and Philadelphia Daily News. Norcross and fellow investor Lewis Katz have been locked in a fight over how to run the company, prompting the latest sale. Both men have pledged to open with a starting bid of $77 million.
Other business news
• Delta Air Lines will resume direct flights from Pittsburgh to Paris on Sunday, marking the sixth straight year the airline has offered the seasonal service. Nonstop flights between Pittsburgh International Airport and Paris Charles de Gaulle Airport depart five days a week. Delta typically offers the service each year from May through October.
• PGT Trucking Inc., a Monaca-based flatbed carrier, has agreed to acquire Kelworth Trucking Co., a 100-truck flatbed carrier in Poteau, Okla., for an undisclosed price. PGT said the deal marks its second in 10 months. In August, the company purchased Liedtka Trucking of Trenton, N.J.
• Pittsburgh Electric Engines Inc. was acquired by Port Washington, N.Y.-based Watt Fuel Cell Corp. for an undisclosed price, the companies said. Mt. Pleasant-based Pittsburgh Electric Engines is a manufacturer of fuel cells for commercial vehicles. The deal is not expected to affect the number of employees in Mt. Pleasant.
— Staff and wire reports
Show commenting policy
TribLive commenting policy
You are solely responsible for your comments and by using TribLive.com you agree to our Terms of Service.
We moderate comments. Our goal is to provide substantive commentary for a general readership. By screening submissions, we provide a space where readers can share intelligent and informed commentary that enhances the quality of our news and information.
While most comments will be posted if they are on-topic and not abusive, moderating decisions are subjective. We will make them as carefully and consistently as we can. Because of the volume of reader comments, we cannot review individual moderation decisions with readers.
We value thoughtful comments representing a range of views that make their point quickly and politely. We make an effort to protect discussions from repeated comments either by the same reader or different readers.
We follow the same standards for taste as the daily newspaper. A few things we won't tolerate: personal attacks, obscenity, vulgarity, profanity (including expletives and letters followed by dashes), commercial promotion, impersonations, incoherence, proselytizing and SHOUTING. Don't include URLs to Web sites.
We do not edit comments. They are either approved or deleted. We reserve the right to edit a comment that is quoted or excerpted in an article. In this case, we may fix spelling and punctuation.
We welcome strong opinions and criticism of our work, but we don't want comments to become bogged down with discussions of our policies and we will moderate accordingly.
We appreciate it when readers and people quoted in articles or blog posts point out errors of fact or emphasis and will investigate all assertions. But these suggestions should be sent via e-mail. To avoid distracting other readers, we won't publish comments that suggest a correction. Instead, corrections will be made in a blog post or in an article.
- Rossi: Steelers will make small strides this season
- Not to be left behind, speedy Steelers are on the fast track in NFL
- Starkey: Bucs still battlin’
- Monroeville firefighters hope hot photo calendar will help raise money
- Steelers have plenty of new faces at wide receiver
- WPIAL coaches, QBs have concerns about using newly-approved footballs
- Why Steelers will — or won’t — snap out of their funk
- Arizona Uzi shooting that accidentally killed instructor ‘just stupid’
- Reputed leader of motorcycle gang returned to Pa. to face charges
- Pittsburgh sues Perry South man to force him to clean house of filth
- Workers shaken by news Kittanning Foodland will close