Our money at work - General Motors bonuses
Just wonderful -- from
Bloomberg:
GM, Chrysler Salaried Workers' Bonuses Said to Reach as Much as 50% of Pay
General Motors Co. and Chrysler Group LLC, which each received government-funded bailouts, may award some managers bonuses of as much as 50 percent of their salary, said four people familiar with the plans.
GM plans to pay bonuses to most managers equal to 15 percent to 20 percent of their annual salary and as high as 50 percent to less than 1 percent of its 26,000 U.S. salaried employees, said one of the people, who asked not to be named revealing internal plans. Bonuses for Chrysler�s 10,755 salaried workers will average about $10,000, with a small group getting as much as half of their salary, one of the people said.
No word about the GM Bondholders who were screwed out of their money when GM went bankrupt -- that debt was conveniently shed all the while our tax dollars were being used to prop up the company.
Posted by DaveH at February 11, 2011 7:33 PM