By on November 11, 2009

Walkin' boss.

GM’s government-appointed Chairman of the Board was out and about last night, speechifying at Texas Lutheran University. Ed Whitacre used the occasion to plea for the “modification” of Pay Czar Kenneth’s Feinberg’s pay caps. To recap the caps, the nationalized automaker’s top 25 executives took a 31 percent hair cut since joining the federal payroll. Aside from CEO Fritz “Opel Eyes” Henderson, that is, who had his cash compensation trimmed by just 25 percent (from $1.26 million to a paltry $950,000). Leaving only one other unnamed GM executive—cough, transparency, cough—who will “earn” more than $500,000 cash money for 2009. ‘Cause $500,000’s the new limit. And Ed’s not happy about that. “To find top-level people where you need them, that’s a more difficult thing to do at that salary level,” Whitacre said. “I don’t think [the caps] will be lifted, but hopefully they’ll be modified.” Now there’s a man who knows the value of politics. As for the value of GM stock, same deal. Or, in this case, no deal.

(Read More…)

Recent Comments

  • Tele Vision: None for me, thanks. A woman I know had three Discos in a row. Of the three only one of them...
  • dmoan: Its sleezy Nissan, Honda, Jeep etc dealers that have me sticking with Acura, Benz, Lexus and Infiniti for...
  • Felix Hoenikker: I bought a 93 Plymouth Colt new. It was a four door with the 1.9L DOHC four valve engine and an auto...
  • sitting@home: I don’t think we’ll need to wait that long before we get a “Viper Cross” which...
  • Tele Vision: I worked on the shoot for the then-new Dodge Ram truck in the early Nineties. No expenses spared on THAT...

New Car Research

Get a Free Dealer Quote

Staff