Former GM CEO Rick Wagoner Gets $10M Retirement Package

Given what he made while GM collapsed, this is a bargain. Pathetic isn't it?

 

Since GM Board of Directors voted to declare bankruptcy and thereby voiding their unwritten contract to protect the owners(shareholders) perhaps they should have also been required to void all those contract contingencies as well that benefited them directly as well. Common sense but then again pigs can't fly.

 

When they bring 'em back (like they did Lutz) will he get a 2nd $10M Retirement ... from the bailout money this time?

 

Too bad VP salaries aren't based on the same cirteria that blue collar workers have: Don't perform, don't get paid. Perform well: paid well (eg bonuses).