General Motors Corp (GM)

[vincen71]

GM gains as Treasury exit could be imminent
12:28 PM ET · GM

General Motors (GM +2.3%) is an outlier to the upside in the auto sector today - hitting a new 52-week high amid a WSJ report, the Treasury could exit the rest of its stake (31.1M shares) as soon as this week. North America boss Mark Reuss expects a boost in sales thanks to the return of some customers who shunned "Government Motors" in wake of the bailout.
The government exit will allow GM to immediately adjust executive pay, which should boost the recruitment and retention of key talent.
Separately, the company says it is moving some call center ops back to the U.S. to hopefully improve interaction with customers. About 300 workers and 35 managers will be employed at a new "customer engagement center" in Warren, MI. The jobs are coming from the closing of a call center in Argentina.
Earlier: GM to cut South Korean output; end Australian production.