GM’s hiring headache

Full Story atmoney.cnn.com

NEW YORK (CNNMoney.com) — If you think General Motors should bring in some “new blood” to shake up its hidebound corporate culture, CEO Fritz Henderson agrees with you. He just has one problem.

“I would say, in regard to the ability to attract from the outside, we do need to get final confirmation on how we pay people,” Henderson said during a recent interview in the carmaker’s New York City offices.

Since its government-backed restructuring, GM has not been able to get pay packages for the company’s top 25 employees approved from the Treasury Department.

In order to make GM more competitive, industry analysts and even the Treasury Department say that the company needs to change its rigid corporate culture.