GM bosses forego bonuses for another year

GM's 2006 was so much better than 2005, news agencies in Detroit and around the country were wondering if it would hurt the General in UAW discussions in September. GM did improve greatly in 2006, but the fact remains that they still lost money. That's one big reason General Motors will not be paying out bonuses to its top 20 executive decision-makers. CEO Rick Wagoner, vice chairman Bob Lutz, and company are now at two consecutive years since their last bonus, but somehow we doubt they'll be hurting for cash anytime soon.

[Source: Automotive News (subscription req'd)]

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