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CEO's Confidence in GM: Multiply by 4

Written by: Marek Fuchs 08/10/12 - 8:11 AM EDT
Tickers in this article: GM
NEW YORK (TheStreet) -- The difference between one and four is hardly subtle, though it seems lost on the media when it comes to General Motors(GM) .

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.

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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.

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