Ousting a CEO & Paying Him $20 Million?

By Tom Johnson

May 18, 2009 1:44pm

The Washington Post reported today that Rick Wagoner, the CEO of General Motors who was ousted by the Obama Administration, is still on the payroll while his promised $20 million severance package is being considered.  Wagoner was asked to step aside when the Obama Administration decided to go ahead and float the ailing car maker more money.  If Wagoner is still being paid, it isn’t much.  He asked for a salary of $1 this year.  But 20 million to leave a company that is teetering on the edge of bankruptcy and only alive after being bailed out by the US taxpayer?

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