General Motors dealers in the United States delivered 284,300 vehicles in September, giving GM its best monthly share so far in 2008.
How many lifetime employees walk away with this for a retirement haul. And it is being given to him AFTER the AIG mess. Not bad Mr. Wagoner.
PAYDAY: GM's Rick Wagoner Drives Away with $20M Retirement (click title to entry - thank you)
Critic Calls Multi-Million Package "Perfect Example" of Frustration with Industry
By MICHELLE LEDER and JUSTIN ROOD
March 30, 2009
...Although the Treasury Department has barred GM from paying severance to Wagoner or any other senior executive, Wagoner is eligible to collect millions in retirement benefits from his former employer, according to the documents reviewed by ABC News...
This is our baby, by the way. If one recalls it was the close of the Bush Presidency when he came forward to support the new President-Elect. Yep. We called for a program to protect labor and its retirees (Didn't know Wagoner was included, but, contracts are contracts, I suppose.). So, we have no one to blame but ourselves on this one. So far it has been an important step to realize we wanted to salvage GM, but, we didn't bargain for failure before success. It was determined the automakers were important to the American landscape, not only from an aesthetic perspective, a matter of national pride, employment but also for national security.
We haven't done badly. So far, Ford is surviving the best without need for assistance and Chrysler is seeking to stay afloat with a merger most people expected would happen eventually. Some also anticipated a further bailout of GM while hoping they were wrong.
Americans are working today in good paying jobs at GM regardless of its management failure. If the USA can rid the organization of its CEO, it can assist in the future direction of the type of vehicles that come out of the factories as well.
Let's get this thing right and return 'reason' to American manufacturing. American Automakers have to realize they can't dictate auto availability forced down the consumer's throat by lack of choice, technology and 'jazzed up' commercials. If I were CEO of GM, I would concentrate on highly efficient 'green' automobiles and manufacture as many of those as the market will bear while manufacturing only to order other vehicles less green and less desired by Americans.
I hope the unions have strong suggestions for the continued operation of GM, including market studies regarding models that actually sell.
