GM CEO Gets Lots Of Money For A Bad Job
by Big Dog on Feb 20, 2010 at 22:26 Political
So can anyone tell me how it is that Obama and his radical minions are able to tell banks and financial institutions that received bailout money what their executive compensation can be but can’t do that for GM? Government Motors (formerly General Motors) received lots of taxpayer money and failed to pay it back but now its executives are getting big money.
General Motors Co. CEO Ed Whitacre will receive a salary of $1.7 million this year, plus stock awards that will bring his total pay package to $9 million at a later date, the automaker said Friday.
In a surprise announcement, GM also said former CEO Fritz Henderson has been rehired as a consultant. Henderson, who was forced out of the job in December, will work 20 hours a month and will be paid $59,090 a month, the company said. Yahoo
Obama and his buddies at ACORN can rail against executive pay and Barney Frank, the Banking Queen, can scream about limiting pay for executives of ALL companies but they seem to be silent over the huge CEO compensation at GM.
How can it be that Obama will scold CEOs for how much they make and tell us that those who ran the company into the ground should not be paid well (as if it is his decision to make) but his car company can spend money on huge executive compensation? How can that be?
Private companies in America need to tell Obama and Frank and the rest of the radicals in DC to mind their own damn business and to stay out of the private sector. The easiest way to do that is to stop ALL donations to politicians. After that a simple letter telling Congress and Obama to shut the hell up and mind their own business should suffice.
Government does not belong in private industry and if the pols in DC don’t like it then that is just too bad.
They keep screwing around and there are plenty of countries that are much less expensive to do business in.
How would members of Congress like to explain why a bunch of jobs in their districts and states went away because of government meddling?
No matter what, these people at GM do not deserve any of this money until the taxpayer is completely repaid. We own that company and we should get paid first. Of course, the rules are a little different for Obama and his supporters (like the UAW).
So let us do ourselves a favor and ignore GM. Don’t buy any of their vehicles and let’s put them out of business. They should have failed some time ago and we propped them up as Obama took them over. Now his CEO is getting big money.
Bankrupt them once and for all so they can go under and something else can take over.
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Tags: compensation, gm, lies, Obama, regulation, socialism, wall street