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L0RDZ (83.10)

Thank you Treasury Pay Czar for not allowing these idiots pay raises..

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April 26, 2013 – Comments (3) | RELATED TICKERS: GM

http://www.detroitnews.com/article/20130426/AUTO0103/304260449/Treasury-rejects-pay-raises-GM-Ally-execs?odyssey=tab|topnews|text|FRONTPAGE

Ever  wonder how  pay  increases  for  top management at a  company  unlocks  shareholders value ?

Apparently  neither  does the  pay czar  who shot them down  for  a pay raise.

So  they  need  more  cash  money to do their  jobs ?

Treasury must approve the salaries for the top 25 executives that received large bailouts under the $700 billion Troubled Asset Relief Program in 2008 and 2009.

Most pay — 81 percent overall in 2013 — is in the form of stock, which means that the value of the majority of the pay of top executives will depend on the future performance of the company, typically vesting over a three-year period.

Treasury said for 2013, cash salaries for the top 25 executives at GM and Ally as a group are on average 4 percent below the median for cash salaries and 56 percent below the median for total cash compensation for positions at similar companies.

GM CEO Dan Akerson received $11.1 million for 2012 because of a change in the mix of salary stock and long-term stock, but Treasury said "the overall amount of CEO compensation has continued unchanged since 2010" — meaning the GM CEO has received $9 million in annual compensation.

The Treasury initially approved pay for seven companies that got large bailouts. All but the two Detroit-based companies have exited. The five that exited — Bank of America, Citigroup, Chrysler Financial, Chrysler, and AIG — are no longer subject to the limits.



From The Detroit News: http://www.detroitnews.com/article/20130426/AUTO0103/304260449#ixzz2RbquwKUo 

Lets  face it   had  they  not  suckered  the  gov-ment  into stealing  tax payer $$$  to  prop up   ALLy  and  Gm  amongst   the  other  losers  in  Chrysler ~  B of A ~  Citigroup  ~  AIG   they all  would  have disapeared  no doubt.

They were all  bankrupt  entities.

 I happen  to  be a  shareholder  of  GM  and  trust me  as  a shareholder I  do  not want to see Akerson  get  any  type  of  raise  ~   he's  nothing  but  a  gov-ment  song  and  dance  guy  I'd  instead  would  like  to  go into the offices  and  throw  stuff around and  tell them all to get  out  because they have just been let go without  any  severance.

GM  had  the  chance  to save money by  moving  out  of  the   REN  Center  into  tax free  deals with  the  city  of  Warren  ~   did  they  take  advantage  of   them ?  No...It  must be  nice  to be able  to  survive  based upon  the   charity  of   others,  but  its  been   3  years  since   the  company  got   reborn   most  of  the bad  assets  simply  vanished away  except for  the ridiculous  pension  and health obligations  ~   even  to  that  Idiot  ROger  something  who  ran  GM  into  the  dirt  and  managed  to exit  with  several  milllions  while  GM  went  into  a  quasi  gov-ment  bankruptcy but  not real bankruptcy   and   yet  the  stock  is  15%  below  its IPO  and  not  a  single  penny  in  any type  of  dividend...  to  ordinary shareholders...   

 They basically  blew  billions at  the behest of  the gov-ment  forcing  them  into  electric  cars....  wow  how  did that turn out ?And Dan is  unhappy  with   9  million  a  year ?   All  I can say  is  that   I hope  the  gov-ment doesn't sell  its  shake  into  GM until  they can get the share price  above  its  IPO with  interest...  The  charity  offered  to  these auto motive bozo's  is  laughable...    remember when  they said  there was gonna be  a  revolution   ~  instead  we  got  a  bankruptcy that  wasn't  one ?Soon  we'll  be  hearing  from  the  AUW  about  wanting pay raises...

Bunch of  ungreat-ful   mo  fo's

3 Comments – Post Your Own

#1) On April 26, 2013 at 9:21 PM, HarryCarysGhost (99.70) wrote:

 I happen  to  be a  shareholder  of  GM 

Why, and for how long?

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#2) On April 27, 2013 at 6:08 PM, rd80 (98.30) wrote:

I hope  the  gov-ment doesn't sell  its  shake  into  GM until  they can get the share price  above  its  IPO with  interest...

IPO price or break-even price?  The .gov shares in the IPO were sold at a pretty big loss. 

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#3) On April 28, 2013 at 3:05 AM, L0RDZ (83.10) wrote:

Here's some  insight  as to   unlocking  shareholder value straight  from  the  horses  face...

http://www.forbes.com/sites/kellyphillipserb/2013/04/27/former-gm-exec-bob-lutz-suggests-higher-gas-taxes-would-help-americans/?partner=yahootix

Do  we  really  want to  give people  like  Lutz  raises  for  such  moronic  statements  to  ask  that  the  government inflich  7 dollar a  gallon  pain  upon  citizens.

Or  people  like  Rick  Wagoner who   I  mistook   as  that  Roger  guy  both  who  failed yet both  got  excellent   parachuttes  away  from  so  called top  management...

Makes  me  wanna  puke,  especially when  you figure  the top management is  forced  into  getting  most of  their  compensation in  stock  and the  stock  price  blows...  like  a  twenty dollar  crack addicted  street walker...

What  is  the  solution  proposed ?   greater  guaranteed  cash  compensation ?   Been  there done that ?  

As soon  as  the  management  get raises  in cash, soon  the  auto workers  will  be  demanding  increases  and soon   they'll  be  at  conflicts  who knows  maybe  a  strike  as  they both  look to cut  noses  off  to  spite  ones  face.

Why  I   decided  to  get  GM  stock  ??  because  I  thought  maybe  these idiots  would  have  learned  their  lessons  from  the many failures  but  after  reading   former  execs  like  Lutz  think  high  gas  prices  are good   and   would  help  americans ?   I'd  just  wish  we  could  claw  back  all the  bs  idiots  like him have  made  from  poorly  run  and managed  company's  like  old  Gm  and  apparently  the  new GM.

Lutz  you  were  part of  the problem  with old  gm  and  apparently  fools  love  to  listen  to  you as  a  consultant.

I just  loved  how  they  would  pay for  idiots like  him to  charter  both a   personal plane  and  helicopter  for  a  10  second  tv  spot  ? of  course  on tax  payer money.

Only  old  age  is  the reason  old  fools  eventually  leave  GM....   apparently  GM  was a  good place  to   be at  to pad  one's  resume  while  not ever  being  held  accountable  for  performance.

Lutz   I'm  a  lifelong  GM  buyer  and  I  never  wanted  the  unprofitable    volt...      what    I   wanted  coming  out of  high school  you  fools  discontinued ?   cars  like  the bad ass   grand  national.

That  was  a  bad  a s s  vehicle  not  the  puke  looking  volt...

 

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