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Reply #6: Rick will get a retirement plan that will pay him at least $4.6 million a year [View All]

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Ichingcarpenter Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Sep-18-08 10:01 AM
Response to Reply #5
6. Rick will get a retirement plan that will pay him at least $4.6 million a year
How much of that loan to GM will pay for that?


The carmakers pension fund is under-funded by more than $45 billion, according to the Post. But Wagoner has nothing to worry about. He has a Supplemental Executive Retirement Plan, which allows a company to use after-tax dollars "that rightly belong to shareholders to shower riches on the CEO instead, the Post reports.

Best of all for Wagoner, this payout comes from funds that are separate from those underpinning the retirement programs of ordinary workers, which means hell pocket his $4.6 million-plus a year even if GM files for bankruptcy.

News of the CEOs big pension payday comes after Delphi Corp., GMs largest parts supplier, collapsed, jeopardizing the pension fund set up for the companys 30,000 workers.



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  -Colbert Report: GM CEO Lutz needs to be FIRED-Global Warming Denier Ichingcarpenter  Sep-18-08 09:25 AM   #0 
  - And GM wants 25 billion of Taxpayer's monies?  AchtungToddler   Sep-18-08 09:33 AM   #1 
  - Fire Lutz have the government become part owner in GM  Ichingcarpenter   Sep-18-08 09:38 AM   #2 
  - Rick Wagoner is CEO of GM  wtmusic   Sep-18-08 09:44 AM   #3 
  - "Vice Chairman of Global Product Development"  lurky   Sep-18-08 10:02 AM   #7 
     - The whole board needs to be taken over ... their compensations alone  Ichingcarpenter   Sep-18-08 10:44 AM   #8 
  - Bob Lutz: Global Warming 'a Crock of Sh*t' and Hybrids Don't Make Sense  Ichingcarpenter   Sep-18-08 09:44 AM   #4 
  - Bob Lutz is an idiot.  screembloodymurder   Sep-18-08 09:57 AM   #5 
  - Rick will get a retirement plan that will pay him at least $4.6 million a year  Ichingcarpenter   Sep-18-08 10:01 AM   #6 
  - wow, another ignorant jerk! Great! they just keep popping up all over the damn place. n/t  dana_b   Sep-18-08 01:51 PM   #9 
  - "like many noted scientists"  stuntcat   Sep-18-08 01:59 PM   #10 
     - Its an EXXON debunked talking point  Ichingcarpenter   Sep-18-08 02:05 PM   #11 
 

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