GM CEO Rick Wagoner made $5.5 million in 2008

Posted: Mar 05, 2009
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According to documents filed with the Securities and Exchange Commission today, General Motors’ CEO Rick Wagoner was paid a total of $5.5 million in 2008. Wagoner received a salary of $2.1 million and earned no bonuses last year.

His total 2008 compensation is down from his $14.1 million compensation in 2007, and 2009 isn’t looking any better for the GM CEO. Wagoner will be working for $1 in 2009 as a part of the company’s deal with the U.S. government.

COO Fredrick Fritz Henderson received $1.7 million in 2008 down from $7.2 million in 2007. CFO Ray Young raked in $1.5 million last year and will take a 30 percent pay cut along with other GM executives on May 1.

Source: AutoObserver


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  • Kamacurus

    That is a huge paycut but he is still being paid too much when you consider how many people are losing their jobs.

  • Dodgeyaussie

    You've got to be fucking kidding me/??

    Kill GM now.

  • kabluey

    No-no-no! You have to be a CEO to understand a CEO–and the only reason all of these executives are taking these big pays is because Obama is letting the tax breaks expire from the Bush administration..

    I'm a taking a huge pay now before I have to pay taxes and when those taxes come back I will feed all of my pay into retained earnings for the company until those tax breaks come back..

  • Neil

    With so many people struggling to pay their bills and this guy goes cap in hand and then gets paid this amount

    It is hard to swallow – Chapter 11 time for GM

  • zermatt

    Is there anyone out there that wants to defend the performance of Wagoner now that you know that he callously took $5 million for himself while he is asking the rest of the GM employees to take pay cuts or to leave the company?

    Leadership starts at the top and that is why GM needs a new top.

  • zermatt

    You must not be a publicly held corporation as your outside auditors and board would be looking at your plan to use retained earnings to hide future income with concern.

    That is the stuff shareholder suits are made of.

    I doubt that Wagoner is looking to the future of Obama's planned tax increases when he is asking the taxpayers to help them out. It is more likely that he is out of touch with reality and what it takes to lead in a crisis.

  • kabluey

    I'm not talking about hiding money zermatt.. My reference is to choosing to take a salary …

    In case you didn't know hiding “income” is illegal zermatt, duh lol..

    NO he is not out of touch–look around! How many other CEOs are taking huge salaries right now.. lol..

  • Pat

    there is always time for some crazy GM news in the middle of an auto show

  • zermatt

    Oh, I am sure that you are not hiding income. ; )

  • kabluey

    Oh I don't that would be illegal–and besides I was just audited last year and didn't owe a thing ;) ;)

  • zermatt

    And Bernie Madoff’s outside auditors found nothing wrong and he survived several visits from the SEC.

    Congratulations to you both.

    Just having fun with you…

  • kabluey

    Yes and so the government is at fault just like now..and what are we doing for the problem?? Throwing money at it–so “western world.”

  • Hesus

    the rich get richer,
    the bombs never hit yer,
    when your down so low.

    Wot a greedy pig of a man, but alas he was not alone, and if the share holders agree to these stupid stupid pay packages then its on their heads

  • GMfan87

    unfortunately thats how the corporate world rolls….sucks for these guys that they have to take all the bad rap for it

    the banks havent got half the crap as the auto industry

    not defending these guys though, they should still burn for this

  • btorrentt

    i am trying to get in touch with fredrick the ceo for gmc……i have a situation and i need help i need for someone in a higher position to contact me in regards to my 2006 chevy cobolt. i purchased from gillispie auto in chicago, illinois and now they went out of business…..i need help because i purchased the auto as new and i found out that it was purchases before me and had an accident …when i took my car in for service after 3 yrs. i needed info on the auto and they couldn't provide me with any. btorrentt@yahoo.com

  • btorrentt

    i am trying to get in touch with fredrick the ceo for gmc……i have a situation and i need help i need for someone in a higher position to contact me in regards to my 2006 chevy cobolt. i purchased from gillispie auto in chicago, illinois and now they went out of business…..i need help because i purchased the auto as new and i found out that it was purchases before me and had an accident …when i took my car in for service after 3 yrs. i needed info on the auto and they couldn't provide me with any. btorrentt@yahoo.com