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26/04/2008

GM's Wagoner made $14.4 million in '07

CEO's compensation grew 40% despite automaker losing money for 3rd year in a row.

That's the headline of an article published in the "Detroit News". This article hits the nail on the head. The articles reports in detail that General Motors Corp. boosted CEO Rick Wagoner's total compensation by 40 percent to $14.4 million in 2007, a year in which the automaker lost money for a third straight year but also slashed costs and brokered a historic labor deal with the United Auto Workers union. That's the way how it works at GM. How they workers feel about this after making concessions after concession because of a company in such a bad shape?

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I would like yo add that 2007 has left GM with the biggest loss in its 100 year history namely 40 bilj dollar. good work rick they should have payed you a 100 percent more with suge a outstanding performens but there's allways this year you agree........
because I know how difficult it is to come by on just 2.2 mil salary ehh sorry I don't know and with me all the plant workers, tell me is it hard?

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