GM CEO Fritz "Wagoner Jr." Henderson Collects $1.3 Million
 

So, the wonderfully brilliant former GM Finance guru, the one that was in "crisis mode" since 2006 because of GM's finances...and could very well be seen as THE REASON GM's in bankruptcy is collecting $1.3 MILLION in salary while he "thanks others for their sacrifices."

Is it just me, or is there something wrong with this picture?

What do you think a CEO of such a large company should get paid?

When said company is bankrupt, owned by the Government, and you (the former finance guy) are responsible for the bankruptcy, you shouldn't even have a job!

So, after being fired and being a bit bitter about it, anyone here would give up their pay check...I don't think so.

Josh, do you have an argument here or are you just going to bash Henderson?

$1.3m sounds cheap for a guy running one of the largest companies in the world. :shrug:

qft!

Agreed.

So, according to this list of the top paid CEO's from 2008, this would position him at #466.

http://www.forbes.com/lists/2008/12/...tion_Rank.html


Again... I think that is chump change for running. a company of this size.


For reference, Wagoner made $2.05 MIL in 2008 according to the same list.

Come on, with everything that GM is now going through, he's probably one of the hardest working CEOs and 1.3 million is not unreasonable.

If you think you can bring in someone else for less money to do what needs
to be done, good luck!

If we were to continue to line up GM CEOs and publicly shoot them for their salary, there would be no one left willing to take the job. As others have pointed out, 1.3M seems like a rather paltry sum for the head of a corporation like General Motors. GM was going bankrupt regardless of who is at the helm. Are you trying to say that isn't the case?

I get it, Wall Street and CEOs aren't the most popular groups of people in these tough economic times, but come on.....

Would love to see this question answered....

http://www.bloomberg.com/apps/news?p...d=aNAyG7Ak1ykE

... seems to shed a little light on the philosophical differences between Rick and Fritz.

I don't think Wagoner was wrong in his mentality...just a few months ago it was assumed bankruptcy would mean liquidation. Plus no CEO is gonna openly admit he wants to go into bankruptcy. In all reality a "true" bankruptcy would have been a disaster, and GM would not come out of it. The thing is, no one assumed the government would allow or come up with the fake bankrupcy we see to day that is more about what is convient to get the automakers thorugh bankruptcy than actual established law.

Psft. Chump change. Our CEO made nearly half a million last year. And we are pretty small fish.

Come back when it's closer to this:

http://money.cnn.com/2009/06/04/news...ion=2009060415