What’s 10 million these days – give the man a raise!
Up until the mid-1800s, debtor’s prison did await those who could not pay their debts. To this day, more than a third of U.S. states allow debtors to be jailed for non-payment. If you run a company called GM, Ally, or AIG, not only do you keep your freedom, you will be bailed out by the government, and given a $10 million salary. Waitaminute, you say, aren’t executive salaries of bailed-out companies limited to a still very generous $500,000? This is exactly the question the special inspector general for the Troubled Assets Relief Program asked. The answer, provided in a report to Treasury Tim Geithner, and the public, is scathing: The Treasury Department ignored its own rules and approved “excessive pay packages” for the leaders of bailed-out companies. (Read More…)
Recent Comments
mike978 - Good news, glad Toyota is leveraging Mazda’s superior driving dynamics expertise.
danio3834 - Corporate begging at it’s finest. As Ted pointed out above, Ontario is flat broke. As the Ontario Government should have learned with Ford and...
Gentle Ted - As a Canadian, am opposed to the Governments of both Ontario and Ottawa being involved, Ontario is very “Broke” right now, but do know...
mkirk - I didn’t know it had a civilian offspring. They did kind of let the Marine Corps figure out the particulars…it didn’t end well for several Marines.
mkirk - I knew a guy with a twin turbo LT-1 in a 4th gen Camaro. Have your cake and eat it too! You have to get the tuning right. I had a Mazdaspeed Miata with a...
sirwired - I’ve never understood Hydrogen vehicles at all. They combine the worst parts of both electrical and gasoline vehicles in one...
mkirk - Nuclear subs have a bunch of pumps which do make noise…some more than others. Ours are quiet though. Back in my Navy days it was said...
mkirk - Definitely the most advanced diesel-electric (can one still call this a pig boat?) out there. I like it as an attack boat but the 3 weeks...
mkirk - Good info…thanks.
Defender90 - Yes indeed. It’s a “bitsa” and now has station wagon body with windows in the back – yay modular body work! Over time I’ve had...