If only more American workers would give up their standard of living so Rick Wagoner and all those unnamed board members that got the axe right along with Mr. Wagoner could get more money after looting the company and all it's shareholders. JEEBUS! One must ask, what did Ford do right? They have labor union workers too.
Took a snapshot of this from the Wall Street Journal (must say, I'm surprised Murdock allowed the WSJ to back stab another member of the AEI like that, really)!
Mr. Wagoner, like other top GM executives, doesn't get severance, according to a GM filing on March 5. The filing says Mr. Wagoner was eligible for GM's executive-pension plan at the end of 2008. The filing lists the value of the pension as of Dec. 31, 2008, at $20.1 million.
According to the filing, Mr. Wagoner also had accumulated almost $535,000 in deferred compensation -- though that balance shrank from $766,000 during 2008.
Mr. Wagoner is also eligible to receive equity grants valued at roughly $366,000, according to the filing. A GM spokeswoman said those grants were long-term incentive compensation awarded in earlier years.
But still, Obama won't do a thing about those piano wire threatening bank bonus guys, except of course, to tell everyone, via sending his beloved loyalist, Mr. Summers out to tell us all that they can break contacts between rich people and taxpayer money. These are bonus that would NEVER have happened if bailouts weren't possible, even as as we all saw that Preznut Obama had no problem selling out the 4th Amendment of the US Constitution because huge telecoms, oil companies, big pharma and all those too big to fail banks own Obama and his administration, same as they owned the Bushies and all the GOP.
And furthermore, we all know that GM will end up in bankruptcy court anyway, right? The GOP will push for labor union busting court doctrine because the GOP would never dream of working with Obama and certainly not the average working class citizen of the US either because if you ain’t a member of the AEI, than you just don’t matter to that crowd – and because we can't compete with foreign countries unless a lot more Americans are living like people in third world countries. So, I'm waiting till we all get to the point where we’re ready to tell our congress that we're in control here and not their crooked, rich friends. It hasn't happened yet, however, when the unemployment numbers get closer to 15%, and they will, perhaps by then, enough Americans will start to wonder what the hell is going on in DC? Yeah, that and WTF ever happened with the damn press members and supposed acts of journalism in last few years?