Automotive News [sub] reports that President Obama’s Pay Czar has done an about face. Kenneth Feinberg pledged to remove the $500,000 salary cap for NEW executives hired for TARP-recipients—if he’s convinced that a rule-busting pay boost would help the bailout queens return U.S. taxpayer’s money. Feinberg’s climb-down comes just two days after New GM’s federally-appointed Chairman of the Board said that Uncle Sam’s pay caps could be, indeed should be, “modified.” Of course, Ed Whitacre didn’t make his suggestion directly. Nor did Feinberg reveal the locus of his “come to Jesus with cash” moment. “[Feinberg] said the automotive firms did not appeal his rulings. But he said he would be open to requests to hire in new executives at competitive pay. ‘If General Motors or any other company wants to bring someone in laterally — laterally — and competitive pay packages require that lateral hires get certain competitive pay, what have you, we’re perfectly willing to examine that.'” So the new rule: GM can hire someone for more than $500,000 in cash per year if that person was already making $500,000 per year doing the same job, only better (one would hope). Which would exclude, uh, no one. And create mucho resentment at that special place where RenCen’s express elevators ascend to glory. More Feinbergian 180 after the jump, and a mystery to be solved . . .
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- Jeff Good to read a review on a car that many readers can afford and agree on as a solid choice.
- Ajla The V6 Accord was so popular with internet car website commenters that it turned into a meme. I don't think this current gen carries on that tradition though, many reviews make it sound like a regression. I think the Ford Maverick is the new internet sweetheart.Or the Kia Telluride, which is objectively the greatest ICE vehicle of all time.
- Statikboy It doesn't hold up to earlier generations. It's about about a 1000 pounds overweight.Also, when did the "economy" model of a vehicle become the most expensive version? I keep expecting "economy" to be "inexpensive". I know it was before EV's and even hybrids but I'm not sure when the status flipped. Maybe it started with VW's diesel Rabbit?No longer channeling my inner Old Man. I turned 50 last month so I'm channeling my outer Old Man. Get off the lawn I would have if I could afford my own property!!
- Danddd I'm reading on other sites that the last model was more fun to drive. Accords usually had a bit of sport fun tuned in. Has the new Accord dropped this entirely?I notice on the eighth pic down that space in the dash, seems odd.Now if there was just an Accord wagon....
- TheEndlessEnigma $150k for GM build quality. $150k for GM parts and material quality. Yeah, that's the ticket.