Rick is in the middle.
It’s not news that the Obama administration has asked Rick Wagoner to step down from his position as CEO of General Motors, but it’s just now that we’re getting wind of his golden parachute package. Nobody seems to be getting the numbers spot on as I’m seeing everything from $8.2 million, $10 million, $20 million. Regardless, it seems quite established that we’re looking at a minimum of $8 million in addition to an annual salary of $74,000 for the rest of his life.
Rick’s held the reigns to the General Motors machine for the last 9 years and since then its stock prices have fallen from $30 a share to $3. What you should’ve done Rick was handed it over to me! I would’ve told the union to get bent and cut costs by manufacturing only Escalades and Corvettes. Hybrids, are you kidding me? I’m always getting smoked by a Toyota Prius doing 90mph in the carpool lane, while I’m driving my 350whp turbocharged race car at 70mph.
Anyway, the point is big payouts at thriving multi-billion dollar corporations are great. Big payouts to federally bailed out companies who aren’t doing a damn thing, well what do you think? So who else wants to punch Rick in the face?
