Apparently the executive pay limits set by President Obama only apply to Wall Street bankers. The AP is reporting that Ed Whitacre, the new CEO of General Motors, is poised to receive a $9 Million pay package this year. This is almost twice the amount of money that former CEO Fritz Henderson, the man that was essentially fired by President Obama, was paid. Speaking of Fritz, he's recently been hired back on as a consultant to the tune of $59,090/month to come back in and work 20 hours per month. All of this from the company that lost almost $31 billion in 2008 and received a $49.9 Billion bailout in 2009.
Looks like that $49.9 Billion is turning out to be money well spent!
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