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PAYDAY: GM's Rick Wagoner Drives Away with $20M Retirement
abc ^ | 3/30/09 | MICHELLE LEDER and JUSTIN ROOD

Posted on 03/30/2009 10:18:55 AM PDT by Nachum

Rick Wagoner will leave his post as CEO of bailed-out General Motors with a $20 million retirement package, the company's financial filings show.

In this March 12, 2009 file picture, General Motors Chief Executive Officer Richard Wagoner listens... In this March 12, 2009 file picture, General Motors Chief Executive Officer Richard Wagoner listens as President Barack Obama, not pictured, speaks about the economy at Business Roundtable, an association of chief executive officers of leading U.S. companies, at a hotel in Washington. Although the Treasury Department has barred GM from paying severance to Wagoner or any other senior executive, Wagoner is eligible to collect millions in retirement benefits from his former employer, according to the documents reviewed by ABC News.

(Excerpt) Read more at abcnews.go.com ...


TOPICS: Business/Economy; Government; News/Current Events
KEYWORDS: bho44; generalmotors; gm; goldenparachute; payday; retirement; wagoner
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1 posted on 03/30/2009 10:18:55 AM PDT by Nachum
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To: SumProVita; HardStarboard; BradyLS; Ernest_at_the_Beach; dervish; Twotone; Free ThinkerNY; ...

The List, ping


2 posted on 03/30/2009 10:19:17 AM PDT by Nachum (the complete list at www.nachumlist.com)
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To: Nachum

Hang on Rick. Pelosi’s about to cut the cords on your Golden Parachute.


3 posted on 03/30/2009 10:21:08 AM PDT by Big_Monkey
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To: Nachum

Good for him...if the Obamarxist rules that he can keep it...


4 posted on 03/30/2009 10:21:55 AM PDT by Wyatt's Torch (I can explain it to you. I can't understand it for you.)
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To: Nachum

Failure has its rewards....

If the employees of a company are overpaid....you know the execs are even more overpaid.....

Maybe Wagoner can land a job at AIG....he would sure have the “experience” they are looking for...


5 posted on 03/30/2009 10:22:16 AM PDT by UCFRoadWarrior (The Biggest Threat To American Soverignty Is Rampant Economic Anti-Americanism)
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To: Nachum

The Smelly One will not like that information being divulged!


6 posted on 03/30/2009 10:22:45 AM PDT by FromLori (FromLori)
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To: Nachum
Chump change.

Nardelli left Home Depot with over $200 million.

7 posted on 03/30/2009 10:23:00 AM PDT by TexasNative2000 (I want President Obama AND his policies to fail.)
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To: Nachum

I don’t think he will ever actually collect this money, now that obama is the CEO of GM.


8 posted on 03/30/2009 10:23:53 AM PDT by Leftism is Mentally Deranged (as I said, liberalism is truly a serious disturbance of the thinking apparatus)
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To: Nachum

How sad. We can’t buy another American car.


9 posted on 03/30/2009 10:24:02 AM PDT by prismsinc (A.K.A. "The Terminator"!)
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To: Nachum

in 6 months, when osamaobama realizes that he’s crapped the bed Wagoner will be able to make additional $$$$ when he’s hired as a counsultant by the “auto task force” to try to help fix the coming mess.


10 posted on 03/30/2009 10:24:05 AM PDT by mrmargaritaville
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To: Nachum

Richard Wagoner soon will be getting his 90% tax bill soon.


11 posted on 03/30/2009 10:27:17 AM PDT by dancusa (Politicians are like diapers. They both need changing regularly and for the same reason.)
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To: prismsinc

“How sad. We can’t buy another American car.”

Well, we can still buy Fords. They didn’t take the bailout money. Plus, Ford’s R&D is on high-gear and they are coming out with some very good products.


12 posted on 03/30/2009 10:27:23 AM PDT by wk4bush2004 (SARAH PALIN, 2012!!!!!!!)
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To: Nachum

Here is the way I understand this currently:
Wagoner wanted to go into Bankruptcy now.
Obama wanted to continue to keep them on the government “bail out” dole.
if Obama gives them more government money but then eventually they go into bankruptcy will ABC report that Obama wasted this money and that Wagoner was correct?
Will Obama be held accountable for the “bail out” money?


13 posted on 03/30/2009 10:28:15 AM PDT by DOGHEAD
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To: Nachum

Anybody know how much in campaign funds Obama got from the automakers and the UAW?


14 posted on 03/30/2009 10:28:39 AM PDT by mass55th (Courage is being scared to death - but saddling up anyway...John Wayne)
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To: TexasNative2000

Yeah, for GM, that’s chickenfeed. It’ll be even more sparse once the big 0 fires up the minions and has them screaming for blood in the streets.


15 posted on 03/30/2009 10:30:30 AM PDT by kenth (Obama - One Big Ass Mistake, America)
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To: mrmargaritaville

I hope he keeps it and sues if they try to take it away. I am sick of the government ripping up contracts; be they employment or mortgages. This is not a dictatorship, though it is starting to really smell like one. With what is going on with this administration, we should all be very afraid and proactive.


16 posted on 03/30/2009 10:30:52 AM PDT by learner
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To: learner

The bigger picture is what is alarming.
BO taking over the auto industry.


17 posted on 03/30/2009 10:32:13 AM PDT by JaneNC (I)
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To: Nachum

retirement package

Congress has a retirement package too, and it ain’t the Social Security they want for everyone else


18 posted on 03/30/2009 10:32:15 AM PDT by Son House (Make A Bad Situation Worse, Raise Taxes, Increase Government Spending, Thanks Mr. Ă˜bama)
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To: mass55th
'Anybody know how much in campaign funds Obama got from the automakers and the UAW?

I don't know the exact number, but whatever it is it would only be a small percentage of the total value the UAW represents to the Dems and to Obama.

Think of all the ads that their 501C3 ran in support of Democrat candidates, the Democrat party and Obama himself. Plus, in many states, the primary Get-Out-The-Vote mechanism is funded, operated and managed by the UAW. Plus, you've got the UAW phone banks and auto-calls.

I don't know if you could accurately measure what the value of the UAW is to the Democrats and Barry.

19 posted on 03/30/2009 10:33:24 AM PDT by Big_Monkey
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To: JaneNC

Taking over banks too senate shuffles feet scratches a$$.


20 posted on 03/30/2009 10:35:01 AM PDT by Vaduz
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