It reads like a comic book tale of a gluttonous CEO gone wild. The Chief Executive of General Motors is doing very well indeed, disproportionally might I add, in spite of the indelible facts that shareholders aren’t sharing in the success she seems to be enjoying.
Over the past 12 month’s, GM’s share price has slid by 9%. At the same time, Mary Barra was granted, awarded and paid the sum of $28.6 million.
Let’s break down her splendid year.
Salary: $1.75m
Performance based bonus: $3.06m
Bonus Plan (she hit 3 of 4 goals. No word on whatever the fuck they were): $12m
Special one time grant (why the hell not?): $11.2m
Past equity awards: $2.48m
Revenues were down last year, anywhere from 2-5%, the first annual decline since 2008. Perhaps Mary Barra should give out free social security cards with the purchase of every piece of shit GM car, in order to stoke sales.
Addendum: President Dan Ammann made $11.8 million, of which $2.85 million was cash, and Chief Financial Officer Chuck Stevens was paid $8.1 million, of which $2.38 million was in cash.
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The anointed few receive it all regardless of profits or shareholder dwindling returns…American Capitalism…”Top Tier gets exorbitant pay – ” Win, Lose or Draw” SMH – ENTITLEMENT…disgusting…no shame either
Feel the Bern.
you do realize that every one of your posts, at the very least, has a negative vibe to it….every. single. one. might be something to ponder…….
That is by design Cali. Nothing to ponder.
I guess the board’s premise is that anyone who doesn’t completely destroy the company in a given year deserves heaps of laurels, in the form of greenbacks.
She started from the bottom now she therr, so I give her credit. Not enough to get her on the $20 dolla bill but credit nonetheless.