Due to a poor 2005, GM's top executives
take a big hit in the wallet. Rick Wagoner, Bob Lutz, Thomas Gottschalk, Gary Cowger and John Devine will have far less disposable income this year. Snippet: General Motors Corp. cut Chief Executive Officer Rick Wagoner's pay by 46% to $5.48 million for his work last year, which he said was one of the most difficult in the 98-year history of the automaker...
br>
From my standpoint, as big as it is, it should have been even bigger. I doubt these guys will feel too much pain. It's more symbolic than anything.
Snippet: One proposal says GM should recover performance bonuses paid to senior executives because the automaker had to restate its financial results in previous years after discovering accounting errors.
"There is no excuse for over-compensation based on discredited earnings at any company," the proposal says.
I agree.
From my standpoint, as big as it is, it should have been even bigger. I doubt these guys will feel too much pain. It's more symbolic than anything.
Snippet: One proposal says GM should recover performance bonuses paid to senior executives because the automaker had to restate its financial results in previous years after discovering accounting errors.
"There is no excuse for over-compensation based on discredited earnings at any company," the proposal says.
I agree.
ateixeira says:
09:07 AM, 05/ 1/06
Wagoner does a lousy job and gets $5.48 million? Plus who knows how many other benefits. No wonder they're in trouble.