Auto News: General Motors Company (NYSE:GM), Ford Motor Company (NYSE:F)

Lakeway, NY -- (SBWIRE) -- 02/26/2013 -- ThePennyStockProfiler.com, an investment community with a special focus on updating investors with recent news on the U.S. stock market, issues news alert on the following stocks:-

General Motors Company (NYSE:GM) plans of paying its Chief Executive Officer Dan Akerson $11.1 million this year subject to approval of the Treasury since 2009.

Is GM a Buy After The Recent fall? Find Out Here

GM is planning $82 million in compensation for its top 25 executives and Akerson was paid $7.7 million for 2011, when his target compensation was $9 million.

“GM complies with all TARP restrictions and special master decisions while we focus on driving solid business results for the company,” Martin said yesterday in a telephone interview. “We’ve provided the committee with the information it has requested and will continue to cooperate with the committee.”

The House Oversight Committee is holding a hearing today on executive pay at companies whose compensation has been supervised by the Treasury.

Ford Motor Company (NYSE:F) announced of investing $200 million in the Cleveland Engine Plant, Ohio for developing 2.0-liter EcoBoost engines, due to their increased demand.

Currently the 2.0-liter EcoBoost engine for North America is produced in Valencia, Spain and these engines are 20% more fuel efficient than the larger-displacement engines using turbo charging, gasoline direct injection and variable valve timing.

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The shift to Ohio is a part of the company’s strategy to develop engines regionally and optimize production capabilities globally.

Stating on no job cuts the company said that there will be employees shift to Valencia Assembly Plant for supporting the increased production for C-MAX, Kuga, Transit Connect and Tourneo Connect.
The Ohio plant currently employs around 1,300 people and manufactures 3.5-liter EcoBoost and 3.7-liter V6 engines. The production of 2.0-liter EcoBoost engine will start late 2014.

Net profit surged 55.7% to $1.2 billion and total revenue grew 5.5% to $36.5 billion on a 7.5% rise in wholesale volumes to 1.5 million units. It was higher than the Zacks Consensus Estimate of $33.2 billion.

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