Posted on 05/31/2012 9:07:11 AM PDT by Nachum
The $50 billion General Motors (GM) bailout was a Democrat Crony Socialist nightmare. The Obama Administration illegally over-rewarded its union friendsand destroyed Republican-enemy auto dealers, to name but two facets of the titanic debacle.
We the Taxpayers are still out $30+ billion on the auto bailout. Meanwhile, GM is cutting even more Crony Socialist deals.
General Motors told the U.S. Securities and Exchange Commission today that it failed to report a $600,000 deal given to an ad agency where the wife of GM's chief financial officer is a partner.
In a filing GM said it had "recently learned about" a contract awarded in 2011 to an agency where CFO Dan Ammann's wife, Pernilla Ammann, is also the chief operating officer.
It’s not just the crime - it’s the cover up.
“Recently learned about?” I know GM is a big company - even after the thousands and thousands of employee firings the Obama Administration ordered as a part of the bailout bankruptcy. But seriously, someone can write a $600,000 check - to the CFO’s wife’s company - and no one else notices?
The company has a detailed policy in potential conflicts of interest which says, in part: Deals of more than $120,000 in which a top executive's spouse has a financial interest must be approved by CEO Dan Akerson and Senior Vice President and general counsel Michael Millikin.
The arrangement must then be reported to the GM board of directors' Governance Committee, which annually reviews each top executive's independence.
Either GM CEO Dan Akerson knew about the deal and he’s complicit - or he didn’t and his inmates are running the asylum.
(Excerpt) Read more at breitbart.com ...
The list, Ping
Let me know if you would like to be on or off the ping list
let me guess...CFO Dan Ammann...Odungo appointee
The name “Pernilla Ammann” is so common they couldn’t guess it was a relative of CEO Ammann. Honestly, these government scams would make a great comedy, if the suffering taxpayer wasn’t footing the bill,
Corruption, corruption, corruption.................
Someone please check how much Pernilla Ammann has donated to Obama 2012.
Don't you know Obama's win in 2008 gave him Carte Blanche to do this sort of thing? < / sarcasm >
” “Recently learned about?” I know GM is a big company - even after the thousands and thousands of employee firings the Obama Administration ordered as a part of the bailout bankruptcy. But seriously, someone can write a $600,000 check - to the CFO’s wife’s company - and no one else notices? “
Not possible, sorry.
[sincerity, average] Well, heck. Who's got time to count the petty cash over and over? Once a year or so ought to be good enough, eh? [/sincerity]
Ever hear of this shop?
house of cards... a shell that hires out ad talent
Did they make Ad Age’s top 1,000 shops? Haven’t seen that trade tabloid in 25yrs or more.
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