Quote of the Day: "I'm Not Involved in This"
Published: June 13th, 2009
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From Automotive News [sub]:
[GM CEO Fritz] Henderson said there was no resolution yet on the [$20 million] pension for former CEO Rick Wagoner, who was ousted by the Obama administration which is overseeing GM’s Chapter 11 restructuring.
“That issue is still being reviewed by the board of directors and the compensation committee,” Henderson said. “I’m not involved in this.”
Henderson is a GM board member.
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Nothing is different and nothing will be different. It's the same sad-sack $hit as before.
I know that guy ! I think he works at Wall Mart. Or will.
Damned if you do, damned if you don't. Pay Rick, and the public will have a shit fit. Don't pay him, and he'd likely sue...
While Henderson's comment is most likely true, he isn't involved in that part of the board's duties, the bigger problem is that this is the attitude the entire BOD had seemingly been taking for the past 20 years. Have they ever asked any difficult questions of Henderson's predecessors?