$10 Million To GM Chief

Chicago Tribune Business section 4/20/05
General Motors Chairman, and Chief Executive Rich Wagoner received a compensation package valued at at roughly $10 million for 2004, the
company reported Friday.
Wagoner's cash compensation of $4.8 million last year was 43% lower than the $8.5 million that he was paid in 2003. His compensation package included a $2.2 million dollar salary -- the same as 2003, a $2.5 million bonus and 400,000 stock options currently valued at $5.1 million.
Not bad for an office job.
Harryface ؿ 1991 Pontiac Bonneville LE 302,820 miles
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Chicago Tribune Business section 4/20/05
General Motors Chairman, and Chief Executive Rich Wagoner received a compensation package valued at at roughly $10 million for 2004, the company reported Friday.
Wagoner's cash compensation of $4.8 million last year was 43% lower than the $8.5 million that he was paid in 2003. His compensation package included a $2.2 million dollar salary -- the same as 2003, a $2.5 million bonus and 400,000 stock options currently valued at $5.1 million.
Not bad for an office job.
Harryface ؿ 1991 Pontiac Bonneville LE 302,820 miles
And how many workers did they lay off last year??
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If they were doing well, it would have been a lot more, I'm sure. That's not a very big salary for a company the size of GM.
Chicago Tribune Business section 4/20/05
General Motors Chairman, and Chief Executive Rich Wagoner received a compensation package valued at at roughly $10 million for 2004, the company reported Friday.
Wagoner's cash compensation of $4.8 million last year was 43% lower than the $8.5 million that he was paid in 2003. His compensation package included a $2.2 million dollar salary -- the same as 2003, a $2.5 million bonus and 400,000 stock options currently valued at $5.1 million.
Not bad for an office job.
Harryface ؿ 1991 Pontiac Bonneville LE 302,820 miles
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But it is a lot of money for rotten management performance no matter what size the company is.
John
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wrote:

My employer does the same thing.
Lays of 20,000 employees, then gives the CEO a $1.1 million bonus for saving the company money.
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On Sat, 30 Apr 2005 11:25:18 -0500, snipped-for-privacy@webtv.net (Harry Face) wrote:

That makes me wanna puke!
I guess I better take an evening course in how to speak Japanese. And when I'm done with that, I'll enroll in a course on how to speak Chinese.
BTW, didn't we WIN the war?
And last I heard, we still hated communists, right?
I must not read the news much.
I guess I'm glad my parents got to see this country at its best. The only bad thing is now my brothers and I have to watch it implode.
Rick
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His, and ALL of the management "team", bonus should have been ZeRo!
One of the many problems with modern corporate America is that the bosses get living large salaries and even big settlements when fired even when they run the company into the dirt.
John
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they
Can't really put the blame on him or his management team. Most of us will take all we can get. It is the fault of the owners of the company, the stock holders, for letting them take that kind of pay. It is possible for most anyone to get a job like that if he is willing to sell his sole to the company. What the stockholders don't seem to grasp is that individuals with that kind of drive would work for much less.
I read just a few days ago about a company where the CEO gets $1 a year. His profit is from the stock he owns.
Another alternative is to operate like Exxon Mobil where the executives get 60% of their pay in a special stock that they can not sell until they leave the company or retire, and of course the rules should also be that they must make money for the company.
Finally, those guys are not there to win a popularity contest with their employees. Their job is to make money for the stock holder.
Bottom line is: "That's life in a Capitalist Country".
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bosses
will
the
with
get
leave
must
Didnt Lee Iacoca work for free until he got Chrysler back on track? Thats dedication. GM has not learned a thing.
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On Sat, 30 Apr 2005 11:25:18 -0500, snipped-for-privacy@webtv.net (Harry Face) wrote:

Bah $10 million. Ain't too much to pay a good CEO who's helping the company grow and make a huge profit?
That describes GM right?
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