Washington Post has announced today that former GM CEO Rick Wagoner has been named to the company”s board. Wagoner was pushed out of GM in March of “09 by the Obama administration in the run up to GM”s bankruptcy filing. Wagoner had been CEO since 2000, and previously run the company”s operations in Brazil Washington [...]
Former Wall Street investment banker Steven Rattner recently quit his job as the auto czar after five months of advising President Barack Obama on what to do with the auto industry. Rattner now spends his time at home helping his son with his schoolwork and spending more time with his family. Rattner, who is also [...]
In a payout package outlined in a regulatory filing today with the U.S. Securities and Exchange commission, former General Motors CEO will get almost $8.2 million under a pension agreement plus a $74,030 annual pension. While that may anger many of you taxpayers, the amount is far less than what Wagoner was originally supposed to [...]
General Motors CEO Fritz Henderson confirmed Friday that pensioners whose yearly payments exceed $100,000 will see a dramatic reduction in their pensions – those whose yearly payments are less than $100,000 will lose nothing. GM’s former CEO Rick Wagoner, who was fired by President Barack Obama, is expected to lose $15 million Rick Wagoner, 56 [...]
Former General Motors CEO Rick Wagoner has willingly accepted our offer to become an editor of eGMCarTech. Wagoner will provide us with detailed reports on what really goes on in the minds of GM executives and why they still rely on gas-guzzling models instead of focusing on small-cars. Wondering why the Chevrolet Cruze is already [...]
Unlike former CEO Rick Wagoner, Henderson won’t be getting a $1 salary as GM stated when it won a $13.4 billion loan from the U.S. government in December 2008. Henderson said today that while he is now CEO of General Motors, his pay has not changed from his former position as GM president and chief [...]
During his first press conference as CEO of General Motors, Firtz Henderson said that he plans to meet Obama’s mandate to restructure the struggling automaker even if it means going into bankruptcy. “We could not contemplate bankruptcy if we didn’t have the government there to provide the finances and the protection,” Henderson said. According to [...]
As most of you are aware by now, President Barack Obama and his automotive task force today flunked General Motors’ and Chrysler’s viability plans that were submitted on Feb 17. “Neither goes far enough to warrant the substantial new investments that these companies are requesting,” Obama said. “They must produce plans that would give the [...]
According to documents reviewed by ABC News, Rick Wagoner will walk away with a $20 million retirement package. Even though the U.S. Treasury has banned GM from giving retirement packages to Wagoner or any other senior executives, Wagoner is eligible to collect $20 million in retirement benefits. Wagoner was asked to resign his position of [...]
President Barack has just wrapped up his press conference on the government’s decision on the viability plans submitted by GM and Chrysler on Feb 17th after both automakers received $17.4 billion. “Neither goes far enough to warrant the substantial new investments that these companies are requesting,” Obama said. “They must produce plans that would give [...]
