CEO's Confidence in GM: Multiply by 4
Here's the deal: General Motors CEO Dan Akerson purchased just over $500,000 in stock in the open market this week. This is somewhat noteworthy, as CEOs more frequently receive stock as part of their compensation package, but Akerson spent cash -- and a decent amount -- to invest in the company he heads.
Here's the operative point, though: this is the -- count it -- fourth time Akerson has made a purchase of General Motors stock. Problem is, most of the media has a sense of history that only stretches back a week. That's why many, including Forbes in an article called "Top Buys by Directors: Akerson's $508.8K Bet on GM," only mentions this week's purchase.
But the fact that he's done it four times running now holds meaning. Sure, it guarantees nothing. Toyota(TM) and Honda(HMC) , recovered from last year's disasters in Japan are giving GM fits again and Ford(F) is no slouch.