HOW GENERAL MOTORS WILL MAKE ITS EXECUTIVES PARTNERS
THE General Motors Corporation, which is controlled by the Du Ponts, has evolved a plan for making “special partners” of its leading executives. President Alfred G. Sloan, of the Corporation, explains that “in a great structure such as the General Motors Corporation, where problems and operation are so diversified, where capital must be employed and plants operated in the best interests of the corporation as a whole, where new capital injected should be supplied where it will do the most good, it is important to find, develop and retain men to occupy important managerial positions, who are capable of assuming great authority and responsibilities that make these positions important.” The General Motors plan, explains the New York Tribune, involves a complicated piece of corporation financing. The Wall Street Journal notes that the scheme includes the formation of a subsidiary corporation to be known as the Managers Security Corporation, by means of which the important managers of the company will be able to purchase General Motors common stock at a very low price, and will be able to share in the motor company’s profits in excess of a specified minimum rate. The details are too involved for repetition here.