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Except his salary isn't $9 million which would have know had you read your linked story.
His annual salary is $1.7 million, which to you and I is still a shiite load of money, but it is hardly inline with anyone heading a company the size of GM. The rest of his compensation package is in the form of stocks to be issued over a period of 3 years, something else you would have know had you read the link.
"It's official: pay czar Kenneth Feinberg's executive compensation rules for companies yet to return their bailout funds means a cap of $500K for second-tier executives. Importantly, that number represents the total compensation allowed, but only 45 percent of it -- $225,000, can be in cold, hard ducats. Stock remuneration must be held or paid out over at least two years, and extracurricular perks like country club memberships and private jet escapades can be valued at no more than $25,000. "
Here's a link to a Wall Street article about the top ten highest paid CEO's. The highest paid gets 53.2 million plus a LOT of stock. The lowest on the list gets 16.8 million. GM's CEO's pay isn't out of line coming in at just 1.7 million plus stock.
Obama and his pay czar were outraged at million dollar salaries...$500K is what they should be making. Remember that ?
Gone and forgotten by the Dems ?
And forgotten in your link...
Regarding General Motors, to lure the kind of executive the company seeks it will probably need a bit more flexibility with pay than the rules previously enforced on it by the pay committee. Feinberg said he will look at GM's compensation proposal when a suitor is located. It would be nigh on impossible to lure that candidate with the come-on, "Fix everything, here's a million bucks now, you'll get some Scooby Snacks in 2013, let us know when you're done, kthxbai."
Except his salary isn't $9 million which would have know had you read your linked story.
His annual salary is $1.7 million, which to you and I is still a shiite load of money, but it is hardly inline with anyone heading a company the size of GM. The rest of his compensation package is in the form of stocks to be issued over a period of 3 years, something else you would have know had you read the link.
Read the title: GM's new chief Akerson to take home $9 mn annual compensation
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