Greedy Pig #1, Rick Wagoner CEO of GM 2.2 Million salary in 2008

sarcasmo

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Mon Dec-08-08 04:35 PM
Original message

Greedy Pig #1, Rick Wagoner CEO of GM 2.2 Million salary in 2008

Edited on Mon Dec-08-08 04:36 PM by sarcasmo

Snip< Wagoner is eligible for up to $3.5 million in incentive payments and a grant of 165,563 shares of GM stock if he meets the internal targets. He will also receive 500,000 stock options that will vest over three years and 75,000 restricted stock options that will vest in three to five years.

Snip< GM lost a record $38.7 billion in 2007, largely due to a charge for unused tax credits. Excluding the charges and other one-time items, the company lost $23 million. That was down from a profit of $2.2 billion in 2006.

GM shares fell 54 cents, or 2 percent, to $22

Edited for link.

http://blog.mlive.com/statewidebusinessstories/2008/03/gm_board_restores_ceo_rick_wag.html

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DJ13

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Mon Dec-08-08 04:41 PM
Response to Original message

1. So wheres the analysis (and name calling) for the bank executives?

They've gotten far more from our government than any car company.

But hardly a word about those greedy bastards.

Why?

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sarcasmo

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Mon Dec-08-08 04:45 PM
Response to Reply #1

2. They have slithered behind the name of the bank, I will not let them slide either.

Edited on Mon Dec-08-08 04:46 PM by sarcasmo

If you noticed he is only the first one I have posted. Who received a 33 percent raise from a failing company, and morally shouldn't have taken the raise.

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Romulox

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Mon Dec-08-08 05:16 PM
Response to Reply #2

8. Wagoner is an odd place to start, considering AIG alone has already recieved $150 billion in TARP

Edited on Mon Dec-08-08 05:22 PM by Romulox

How much is AIG's CEO making this year???? :shrug:

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sarcasmo

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Mon Dec-08-08 05:17 PM
Response to Reply #8

10. They will be on the Greedy Pig list.

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Romulox

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Mon Dec-08-08 05:22 PM
Response to Reply #10

11. There's no time like the present. nt

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ixion

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Mon Dec-08-08 05:09 PM
Response to Original message

3. "if he meets internal targets"

now, how the hell could these "internal targets" have possibly been met with the company facing bankruptcy?

It makes no sense at all.

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sarcasmo

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Mon Dec-08-08 05:10 PM
Response to Reply #3

4. Exactly, and the Greedy Fuck still took his 33 percent raise.

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JVS

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Mon Dec-08-08 05:13 PM
Response to Reply #3

6. The expectations game.

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ixion

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Mon Dec-08-08 05:34 PM
Response to Reply #6

12. expectations would have been set in 2k7, which means

that if he met them, then they knew their company was going to tank and did nothing.

Just sayin...

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JVS

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Mon Dec-08-08 05:39 PM
Response to Reply #12

13. Maybe they wanted to get a huge amount of government money instead of improving the company

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jpljr77

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Mon Dec-08-08 05:12 PM
Response to Original message

5. So what should the CEO of a multi-billion dollar manufacturing concern make...

as their base salary?

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sarcasmo

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Mon Dec-08-08 05:17 PM
Response to Reply #5

9. He shouldn't make twenty times the average salary and get a 33 percent raise when the company tanks.

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Romulox

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Mon Dec-08-08 05:15 PM
Response to Original message

7. Still waiting for the per hour compensation of Citi employees...

And how much is the CEO of AIG, Citi, or GE making this year, while we're crunching numbers?

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