11-30-2005, 06:32 AM
|
#1 (permalink)
|
|
1320.net Newbie
Join Date: Jul 2005
Location: 411
Posts: 353
|
GM CEO Secures $4.6 Million Pension
http://www.newsmax.com/archive...shtml
"Monday, Nov. 28, 2005 10:21 a.m. EST
GM CEO Secures $4.6 Million Pension
As General Motors slashes jobs, closes plants and battles to avoid bankruptcy, the company’s CEO has set up a retirement plan that will pay him at least $4.6 million a year – nearly twice his current salary.
G. Richard Wagoner, who the New York Post calls "the greediest, most undeserving CEO since Chainsaw Al Dunlap,” was named GM’s chief financial officer in 1992, when the company had a global payroll of 750,000 employees.
Under Wagoner’s command as CFO and, since 2000, CEO, the carmaker has seen its employees dwindle to 324,000.
Now the company has announced plans to cut 30,000 more jobs and close 12 North American plants, and Wagoner is denying rampant rumors that GM is preparing for file for bankruptcy protection."
|
|
|
