Buy Back Deal With Treasury Department Allows GM Executives To Begin Using Corporate Jets

General Motors Co. still isn’t free of government restrictions on executive pay as a result of its agreement to buy back shares owned by the U.S. Treasury, but company executives are getting something almost as good as money: Permission to use corporate jets.

GM Chief Financial Officer Dan Ammann said during a conference call that as part of its $5.5 billion agreement to buy back 200 million of the government’s 500 million shares, the feds are loosening some of the constraints on management.



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PUGPROUD - 12/20/2012 4:29:12 PM

+3 Boost

Let's see, US taxpayers get screwed to the tune of $50 billion and the GM executives get private jets !!!! Ain't our government grand looking after our best interets...only in America !

internationalmanofmystery - 12/21/2012 3:14:39 PM

+1 Boost

Stupid fucks! First, the government (and Obama!) is Communist for "taking over" a private company, then it's about crony capitalism because corporate heads now get their toys back, then it's about....

STFU!!!