Posted on 12/23/2009 2:42:23 PM PST by Nachum
DETROIT - The new chief financial officer at General Motors Co. will receive a salary of $750,000 next year, but he'll get up to another $5.45 million worth of stock starting in 2012 if GM successfully sells shares to the public.
Chris Liddell's pay package exceeds the limits imposed on companies that have received U.S. government aid, but an exemption was worked out with the government pay czar Kenneth Feinberg, GM said in a government filing Wednesday.
(Excerpt) Read more at msnbc.msn.com ...
The list, ping
It’s OK. The new CEO works for the gubmint, and rules do not apply.
This is so GM! Of course the FINANCE GUY gets the exemption. Not the car guy, or the manufacturing guy, or the marketing guy. The FINANCE GUY, whose cadre of clones have over the years augered GM into the deep dirtbath it so richly deserves today!
“but an exemption was worked out with the government pay czar Kenneth Feinberg”
Are we already well past were we think we are?
I’m tapping my heels and repeating, “there’s no place like home” but I keep on seeing flying monkeys.
What moron would ever want to touch anything of Government Motors? They can't sell cars successfully, what makes them think they can sell shares successfully?
IIRC when Obama and co. bailed out GM, GM stock became worthless paper.
Who would ever want to invest in a company that limited the incomes of those running it, thereby limiting the quality of job candidates?
And beyond limiting incomes, filtering through exemptions to bring in the well connected.
When the government sets pay, that’s communism.
25,000 a year for everyone! (except for me and my friends)
Coming from MicroSoft - wonder why he gets a pass?
Yeah, I’ll have to admit, I’m not exactly losing a whole lot of sleep over the value of any possible future GM IPO shares! On the other hand, I did get an owie when I fell out of my chair laughing at the mere thought of GM IPO shares ever occurring or ever being worth “investing” in.
Limits, rules, laws ...only for people zero doesn’t like.
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