Government Motors Spends Our Money

Bailed out. How about – thrown out? For this:

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.

Nothing’s changed. Same old, same old.

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One response to “Government Motors Spends Our Money

  1. This is an issue I must find more information about, thanks for the blog post.

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