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And, yes, I DO take it personally: Ya just gotta laugh at another context-free NYT "news" story
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Friday, August 13, 2010

Ya just gotta laugh at another context-free NYT "news" story

so... lemme get this straight... gm is moving away from government involvement in its operations... hmmmmm...
Profit Strong, G.M. Names a New Chief

A transition at the top, for a successor chosen by General Motors’ board, was taken as a sign of the government’s shrinking role in the automaker.


[T]he company underscored its rapid pace of change when its chief executive, Edward E. Whitacre Jr., said he would be leaving on Sept. 1 — a clear indication of the federal government’s shrinking role in overseeing the company. Federal officials said they had no involvement in the G.M. board’s choice of one of its members, Daniel F. Akerson, as Mr. Whitacre’s successor.
[emphasis added]

it's stunning to me how what passes for journalism in this country can blithely leave out any reference whatsoever to the bio of the guy who's taking over gm... not once in the article is mr. akerson's background cited...

here is daniel akerson's bio from his previous principal employer, the carlyle group, well-known for its government-private sector revolving door...

Daniel F. Akerson
Managing Director
Washington , DC

Daniel F. Akerson is a Managing Director of The Carlyle Group and is the Head of Global Buyout. He serves on the firm's Executive Committee and is based in Washington, DC.

Mr. Akerson is a seasoned executive with extensive operating and management experience having served as Chairman, Chief Executive Officer or President of several major companies, including General Instrument, MCI, Nextel and XO Communications. His corporate management experience, private equity track record and deep understanding of Carlyle’s global operation provide a strong foundation for his leadership of Carlyle’s buyout activities in Asia, Europe, Financial Services, Infrastructure, Japan and the United States.

Prior to joining Carlyle, Mr. Akerson served in several key roles at MCI Communications Corporation from 1983-1993 including Executive Vice President and Chief Financial Officer from 1987-1990 and President and Chief Operating Officer from 1992-1993. During his tenure, Mr. Akerson formulated and executed MCI’s global strategy. Mr. Akerson left MCI in 1993 to become a General Partner of private equity firm Forstmann Little & Company, during which time he served as Chairman and Chief Executive Officer of General Instrument Company from 1993-1995. While at General Instrument he lead a successful effort to develop and deploy the first digital video, satellite and cable systems domestically and internationally. Following that, Mr. Akerson served as Chairman from 1996-2001 and Chief Executive Officer of Nextel Communications, Inc., from 1996-1999 where he transitioned the company from a regional analog walkie/talkie provider into a unique, leading edge national digital wireless competitor. From late 1999 until January 2003, Mr. Akerson served as Chairman and Chief Executive Officer of XO Communications, Inc. where he led the successful restructuring of the company.

Mr. Akerson earned his B.S. in engineering from the U.S. Naval Academy and his M.Sc. in economics from the London School of Economics.

Mr. Akerson is a member of the Board of Directors of the American Express Company, Booz Allen Hamilton, Freescale Semiconductor and General Motors Company.

well, let's hear it for ol' dan... i don't know about you, but i sure will rest easier knowing that ol' dan is steering general motors away from government oversight, the same thing he's no doubt doing for booz allen...

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