$835 An Hour Salaries Push GM To Spend Almost $70 Billion On Restructuring So Far!

GM has paid consultants AlixPartners and Evercore Group LLC $68.2 million since last year to aid in its turnaround.

The Detroit automaker's new chief restructuring officer, Al Koch, makes $835 an hour -- though he isn't the highest paid of nearly 70 AlixPartners employees working on the effort.


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Agent63 - 6/5/2009 5:05:42 PM

+2 Boost

The main market they have to worry about is North America. So many companies rely on GM for their trucks. IF they are smart they will restructure mainly in Canada and the US where their market share is the largest. China is pretty much set in stone, the population love Cadillacs and Buicks. They wouldn't want Ford to take over the US economy car market now would they?

jimmyjump - 6/5/2009 5:13:14 PM

0 Boost

I think the title should read millions not billions...but who is counting anymore.

sigmabody - 6/5/2009 5:19:46 PM

+1 Boost

Man, I wish I was in on the "take" too, that's a pretty sweet racket. I guess the only way to really make money in the "new economy" will be to have friends in the Party, and be living large on the State's money, eh Comrades?

wins555 - 6/6/2009 12:42:59 AM

0 Boost

Sadly, I think this is going to be true.

Joe_Limon - 6/5/2009 6:30:58 PM

+2 Boost

Am I reading the national enquirer? What a horrible article. First it's the billion=million, then its only the boss of the consulting company making $825 an hour (which is about average since consulting firms are never cheap) where it makes it sound as if every employee of the company makes it. At least it states it in the article, but was a shitty title.

investor27 - 6/6/2009 8:41:28 AM

-1 Boost

It's should be $15 an hour work, $30 an hour with all the benefits. The previous $75 an hour is just outrageous. Why not let GM die or force them to combine operation with FORD? We keep pumping our money into this losing battle. We need to stop the bleeding, take our losses and call it a day.

detfan - 6/6/2009 9:53:51 AM

+2 Boost

Sometimes it would be nice, well really it would always be nice for autospies to have some semblance of integrity and accuracy. Perhaps if the posters could document their claims they would appear more competent. I have yet to read a post on GM that has been accurate.

vman1013 - 6/8/2009 12:31:18 PM

+1 Boost

I hear where you are coming from. Unfortunately, the American brands lost their way in the 80's and it came back to haunt them. The worst part of it all is that the American brands are comparable to their Japanese counterparts in terms of reliability. The problem is that the American consumer doesn't realize it yet. I do. I just bought a Jeep GC and love it. It was worth every penny. But I'm in the minority. Folks aren't giving the American brands a chance.

vman1013 - 6/8/2009 12:28:14 PM

+1 Boost

that's what they bill. not what they are paid. same as lawyers...