Three weeks ago GM submitted a plan to the Treasury Department on how it would remain viable. That plan included laying off 47,000 workers worldwide in 2009 and closing five more factories in the US.
In 207 the company lost $38.7 billion, followed by $30.9 billion in 2007. The 2008 pay package for CEO Rick Wagoner? $14.9 million. The company is now begging for more money from the tax payers. I think they’re changing their name to “Got Money?”
Rick started at GM in 1981. He was named CFO in 1992, President of North American Operations in 1994, President & COO in 1998, and CEO in 2000. What I’m saying is: He’s been in a position of influence at GM for a long time.
What a bunch of idiots.
Entry filed under: Money.