General Motors (GM) has said chief executive Ed Whitacre will get an annual salary of $1.7m (£1.1m), plus $7.3m in shares at a later date.

The pay package was approved by the US Treasury, which spent billions of dollars bailing out the carmaker last year and now owns a large stake in it.

GM also said Mr Whitacre’s predecessor, Fritz Henderson, is being paid $59,090 a month as an adviser.

Mr Whitacre took over as interim chief executive in December last year.

Last month, he was officially confirmed in the position on a permanent basis. He is also chairman of GM.

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On occasion, you may have the opportunity to speak with the press on behalf of your business. An interview can give your company a boost in public exposure and even increase revenues. To take full advantage of a press opportunity, it is important that you practice preparing for a media interview.

There are many positive occasions or situations which may prompt a media interview. You may receive a call from the press for the following:

• Your recent press release about a new product
• Your company was involved with a positive public service
• You are considered an expert in your field
• Your company just celebrated a key anniversary

There could be negative instances for press calls as well, such as a public customer complaint about your business, legal action against your company, etc.

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The opening and closing ceremonies of the Olympic Games are more than just gratuitous displays of nationalism. They’re also the most watched fashion shows in the world. The theatrics of these multi-hour spectacles have much in common with high-fashion runway shows, and the ceremonies for the Vancouver 2010 Olympic Winter Games will have the couture to match.

Canadian-born designer twins Dean and Dan Caten, the founders of Milan-based Dsquared², were named official costume designers by the Vancouver Olympic Organizing Committee last year, and are outfitting the performers for the opening and closing ceremonies for the Games this month. Wh

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Japanese carmaker Toyota is facing a new US investigation into complaints of steering problems in its Corolla model.

The investigation is expected to be opened on Thursday and will involve an estimated 500,000 vehicles.

It is already facing an investigation into whether it was quick enough in recalling cars over problems involving accelerator and braking systems.

Toyota said on Wednesday that it was looking into complaints of power steering problems with the Corolla.

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New businesses often get their marketing wrong. They spend too much, too soon – and on the wrong things. Then, when they have their act together, there is no money left to invest in promotional activities which will drive business growth. The net result is inconsistent promotion of the wrong message to the wrong people. You need to avoid this, rather expensive, trap.

Two recent examples struck me. One, a classic car restoration business, emailed the area organisers of the national club which was holding its AGM within three miles of their premises inviting everybody for coffee and doughnuts and a look round to see the quality of their work. T

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