Dear GM, our country was so kind to bail you out of bankruptcy. So quit whining.
Last week the CEO of GM, Daniel Akerson, met with the overseer of pay limits for bailout companies, Pat Geoghegan. Akerson had the nerves to ask Mr. Geoghegan to consider taking limits off the pay for the top 100 executives of GM that the government put in place after they were bailed out. GM has been doing well and just recently had its IPO bringing GM back to the market. This all is a step in the right direction for a company that was doing so poorly not that long ago. But, the fact still stands that the U.S. taxpayers own about 30% of GM and nobody wants any extra money going anywhere but back into our governments bank accounts where all the money came from. There are other bargaining tools that a company can use to entice executives to come work for them other than just large paychecks. Maybe you can tell them you'll pay them more just as soon as the taxpayers money is repaid that is allowing your company to exist. That's just a random thought. I truly hope that Pat Geoghegan has a spine as well as a brain and denies them the right to allow higher pay for their executives. They can do whatever they want, when I don't still own them.
[Source: The Wall Street Journal ]
