Quote:
Originally Posted by hot_rod
DETROIT | Fri Apr 25, 2008 5:47pm EDT
DETROIT (Reuters) - General Motors Corp GM.N Chief Executive Rick Wagoner's salary and other compensation rose 64 percent in 2007 to about $15.7 million, mainly due to option grants, according to a proxy filed on Friday.
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If we're going bash pay, let's don't leave out the management. Where was the board of directors when this 64% went down?
Ah let's just say they were not looking after the stock holders or bond holders.
GM Stock price in 4/07 ~$30.00/share, today ~$0.43/share.
Now who got the short end of this deal, the employees - union or management - or the investors/owners?
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"Mainly due to option grants" I believe that means stock options. So, if his compensation went up by ~6M in stock @$30/share, today that would be worth ... $88k @$0.43/share.
And for a CEO to be making less than $10M a year is pretty rare for companies with revenues of over $100B.