So, let me get this straight - one of the major problems with the Big 3 is excessive worker benefits, right? So, if that's the case, then one would expect executives to practice what they preach. And at about this time, you're wondering if I'm really from this planet, and for good reason. GM CEO Rick Wagoner will be receiving a $4.6M retirement package, courtesy of a Supplemental Executive Retirement Plan that has been set up for him. This plan comes from funding that is separate from GM's vastly underfunded pension plan, and is said to be payable even if GM files for bankruptcy. Is it just not possible to properly fund one's own retirement on $4.8 million a year? Or is the goal to just eliminate whatever sympathy that the public might still have for GM's management? Wow. [Hat Tip: Cheers & Gears]
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