Posted on 03/30/2009 10:18:55 AM PDT by Nachum
Rick Wagoner will leave his post as CEO of bailed-out General Motors with a $20 million retirement package, the company's financial filings show.
In this March 12, 2009 file picture, General Motors Chief Executive Officer Richard Wagoner listens... In this March 12, 2009 file picture, General Motors Chief Executive Officer Richard Wagoner listens as President Barack Obama, not pictured, speaks about the economy at Business Roundtable, an association of chief executive officers of leading U.S. companies, at a hotel in Washington. Although the Treasury Department has barred GM from paying severance to Wagoner or any other senior executive, Wagoner is eligible to collect millions in retirement benefits from his former employer, according to the documents reviewed by ABC News.
(Excerpt) Read more at abcnews.go.com ...
I have a 2000 Accord with 139,000 miles on it....I love it, it rides great, no problems (I do maintain it with Honda)...Will eventually give to my niece for her 16th...I think it’ll last over 200,000 miles.
After taxes, that should be enough for the repairs on his GM car ... with nothing left over.
My husband got the deal of the century on a used diesel Benz.....he will have that car for 300-400,000 miles.....he has wanted a diesel forever and if bought this car new Benz charges a thousand dollars more for that engine.....if you want the diesel engine in a Chevy truck you pay five grand more.....go figure.....
Good for him!
Even a working stiff who retired from GM gets a”package” that it he could sell it would be worth $750,000 dollars.
That's exactly what I told myself in 1985. However, it hasn't been sad at all!
My neighbor's Benz just went over the 300K mark. Still runs GREAT - no major mechanical problems, just routine maintenance. It's the reason I bought mine after dealing with GM crap for years.
As for the price disparity between the Benz diesel and the Chevy Diesel, you can thank the environmental lobby here in the US for that. In Europe, the diesel is VERY common. MB and others have spent a tremendous amount of money in R & D because of the European regulations and through economies of scale, the European production costs are much lower. Here in the US, it's the exact opposite. Diesel is persona non grata and thus the R&D isn't what it should be and production is highly limited, so the costs reflect it.
To put things in perspective - is there any way to compare with how much the politicians who serve in Congress & the Senate walk away with??
How much did Clinton & the wide-load walk away with??
It's okay for the RATS to make out like bandits - but not a capitalist??
My wife’s commute car is the 2000 Accord, but with the four, the daughter got the six. Zero problems and she’ll drive it until she retires in five years. Then she gets the E-class.
IF he earned it....then I could not agree with you more!
ZerO doesn't give a darn about the auto industry...His interest is PAYBACK TO THE UNIONS WHO GOT HIM ELECTED!!
Remember when MB had those 100K medallions? Gutsy.
WOW! Yesterday, I saw an '06 Mustang that went for $7850.
A priority when researching a new car. Honda beats them all.
And who gets to decide that? Obama, Congress, welfare queens, deadbeats, etc.
“ZerO doesn’t give a darn about the auto industry...His interest is PAYBACK TO THE UNIONS WHO GOT HIM ELECTED!!”
That’s right. Now we really need some oversight and hearings about how this firing took place and why it took place and what is the real reason that he was asked to leave. If his plan was unacceptable to Obama, then let us see his plan and evaluate it. who knows what was in the plan? The media will not find out. They will echo talking points handed to them.
Most likely...but then the American people generally elect and get exactly what they deserve.
But will he be contributing to Obama’s next campaign?
It is interesting, this Benz is considered a “green car†it even is allowed in the great socialist sate of CA....whoopdee do.....one can hardly argue 32/36 mpg and it will run forever..... Our government really gets in the way of common sense and good business.
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