While GM is shutting down plants and leaving many workers jobless, CEO Rick Wagoner’s base salary for 2008 went up to $2.2 million from $1.65 million in 2007. His total compensation in 2007, including base salary, stock awards, options and other income, was $14.4 million as reported by GM ($15.7 million according to Associated Press).
Shareholders are now speaking out. At yesterday’s annual meeting, shareholders blasted CEO Rick Wagoner for taking in huge salaries and bonuses while GM struggles financially. Investors defeated a proposal under which at least 75 percent of future stock option and restricted stock awards for senior execs would be tied to how GM...
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