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By David Keene
Conference showed that the values Reagan cherished still endure
Topic - Daniel Akerson
General Motors moved Wednesday to shed its "Government Motors" nickname, buying back a chunk of its stock from the federal government as the Treasury Department announced plans to eliminate its losses in the company's stock by early 2014.
The apparent safety woes of the much-touted, all-electric Chevrolet Volt touched off a firestorm on Capitol Hill on Wednesday morning, as House Republicans charged that the Obama administration conspired with General Motors Co. to conceal those risks from consumers while pushing the vehicle as part of the "green" future.
General Motors Co. CEO Ed Whitacre said Thursday he's stepping down Sept. 1.
General Motors Co. said Thursday it made $1.33 billion in the second quarter, a sign it's getting healthier as it prepares to sell stock to the public. The results were strong enough that CEO Ed Whitacre announced he will step down next month, saying his job was done.
FILE - In this March 6, 2013 file photo, General Motors chairman and CEO Daniel Akerson speaks at the IHS CERAWEEK energy conference in Houston.
"This announcement is an important step in bringing closure to the successful auto industry rescue," GM CEO Daniel Akerson said in a statement. "It further removes the perception of government ownership of GM among customers, and it demonstrates confidence in GM's progress and our future."