We could do a lot with $7.7 million. But in the realm of jet-setting chief executive officers, that’s practically a minimum standard. Such a wage usually isn’t enough to attract top CEO talent, because most of them can’t be paid enough.
Still, that’s what GM CEO Dan Akerson made last year according to a Securities and Exchange Commission filing discovered by The Detroit News. But Akerson doesn’t seem too bent out of shape that he didn’t earn the $29.5 million Ford’s Alan Mulally made last year. Notably, Akerson gave up more than $100 million to leave the Carlyle Group and become CEO of GM on Sept. 1, 2010.
Comments
These treasury morons are gonna regret curbing their pay. Doing do saves millions of dollars (about 100 mil) and they’re still short $20-billion-something on the bailout. In other words, the government is saving pennies when it should be looking to make millions.
GOVT Motors What a SCAM . How about paying off your DEBT .? I will never buy a GM product again
Not a good move by the board of directors. Given the current economic situation and the uncertainty in the nation, this should have been done later on. People in Michigan are not going to receive this well. Here in Michigan we still have companies laying off/down sizing/closing. Lots of people unemployed even though the government skews the actual figures. We are still hearing on the showroom floor negative comments about “Government Motors”. I think the board of directors need to rethink their actions.
What they really need to do is concentrate on paying of the real loans from the government, then the UAW and gain total control of the corporation. Then the public will come back to GM. I understand those on the top floor at the center don’t understand this. They dont have a clue what potential customers think or want. I have said this many times over many years, they need to get their fat donkeys down into the trenches(show room) and get some real data on what customers think about the products, what customers really want, not what some committee or focus group thinks they want. But the day that happens will be the day the Detroit Lions win the supper bowl and it snows in Hell.
I don’t understand how ANY American could possibly understand what is going on with the repayment of bailouts, the Democrats say one thing , then the Republicans accuse them of misleading the public…has there been a recently published layout of how the loans are structured ? Exactly what does it mean when GM days they are repaying the loan with interest while the Republicans says it is a scam ?! Surely there would be no “lying” going on here ! ??
And just how much of the Ford loans secured in 2008 actually ended up being Wall St, bailout $$ ? And while we’re at it, exactly how much money did the “right to work” states give the Japanese and Germans from the public purse to locate in the “south” ?