Tuesday, March 31, 2009

Even though he was FIRED, former GM CEO walks away with about 23M

Are you tired of this yet?

Former General Motors Corp. Chairman and Chief Executive Rick Wagoner won’t get a severance payment from the automaker, but he’ll still get a pension and other benefits worth an estimated $23 million.

In nearly 32 years with the company, Wagoner accrued pension benefits that the company valued at $22.1 million at the end of last year. The actual amount Wagoner will receive could vary because it will be paid in installments over the rest of his life.

Wagoner, 56, also is entitled to $366,602 in unvested stock awards and $534,627 in deferred compensation as of Dec. 31, according to GM’s annual report.


These CEOs represent the worst of leadership and the anger of greed.

Here is Keith Olbermann's take on this:

And Republicans? They need to get on the side of the middle class instead of taking up and defending a CEO that was one of the problems of GMs demise.


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