Akerson, who turned 65 last week, is reportedly looking at four potential successors, all of whom are considerably younger and all of whom presently work at the company.
Still, the bailout will leave a permanent mark on GM, especially because the government has only gotten back $36 billion of the $51 billion invested in the company and now expects to lose $10 billion on the deal once all shares are sold.
Our Peter Morici is still upset over unions gaining what he has called "confiscated" property in the bailout.
But the Obama administration is caught between a rock and a hard place. The sooner it sells its shares, the more the buyout winds up losing, but the longer it holds shares, the more critics will call the company "Government Motors."History will say the bailout helped the President's re-election, with the administration claiming it saved 1.4 million jobs, not just at GM but at Chrysler and their suppliers. "Bin Laden is dead but GM is alive" became the 2012 equivalent of Tippercanoe and Tyler Too. Some may always call GM a Frankenstein monster. But it's very much alive. The bottom line is that GM's days as a political story are headed for the rearview mirror. It's going to become "just" a car company again. A great, big car company. At the time of publication, the author owned no shares in companies mentioned here. Follow @DanaBlankenhor This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV