GM Discloses Executive Stock Compensation

By: Associated Press
By: Associated Press

General Motors Co. is disclosing that seven executives will get roughly $7.5 million in company stock as part of their pay packages.

The company says in regulatory filings that the executives include North American President Mark Reuss, Vice Chairman for Product Development Tom Stephens and President of GM Europe Nick Reilly.

Previously GM had only disclosed a $9 million pay-and-stock deal for CEO Ed Whitacre, $6.2 million for Chief Financial Officer Chris Liddell and $5 million for Vice Chairman for Corporate Strategy Stephen Girsky.

GM officials say the company could sell stock to the public late this year. No date has been set.

The U.S. government owns 61 percent of GM because it gave the company roughly $50 billion in aid. GM has repaid $6.7 billion, with the rest converted to stock.

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  • by Anonymous on Jun 9, 2010 at 07:08 AM
    Pay scales like this is what keeps car prices up.I think it is a little to much.Greed has hurt many businesses.Auto prices need to come down so more can buy.This won't happen as some think they deserve this kind of pay.It don't matter what or who it hurts.Till we get jobs in the USA paying decent wages to cover all the higher costs of living we all are seeing the economy will just keep hurting.
  • by local on Jun 8, 2010 at 02:24 AM
    Err--if all the loans have been repaid with interest, why does the government still own 61% of GM?
  • by Dave Location: Litchfield, MI on Jun 7, 2010 at 02:48 PM
    Another example of CEOs and top management being grossly overpaid. What did they do to deserve such excessive pampering? How many people could have been put to work for what they were given?
  • by errr Location: lansing on Jun 7, 2010 at 02:07 PM
    The government has been fully paid. All loans have been repaid with interest.
  • by local on Jun 7, 2010 at 01:19 PM
    OK--let's talk about who gets paid too much. These men will make $1 million each, for being in charge of a company that the government had to buy 61% of? This is ridiculous. What did they do that makes them deserving of this kind of money? And why do they get this kind of money before the government is fully paid back?
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