US approves exceptions to pay limits at bailed-out firms

US approves exceptions to pay limits at bailed-out firms

rawstory.com

US authorities released details Wednesday of salary cap exemptions to bailed-out firms including General Motors and Chrysler, citing exceptions where needed to attract or retain "talented" executives.

New GM chief financial officer Chris Liddell, who came from Microsoft, was among those exempted, with an approved salary of 750,000 dollars annually, according to documents released by the US Treasury.

Lidell will also have the possibility of earning 5.45 million dollars in stock,

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Related AboveTopSecret.com Discussion Threads:
AIG bonus return pledge goes mostly unfulfilled

Hear is another great example of tax money going to pay a rich person. The article says that it is needed to attract talented people. Where that might be true why not do the best thing they can, which would be to pay back the government the money the borrowed to dig them selves out of the hole they got them selves into. Maby he should send a card to all the families who are paying his salary.

rawstory.com
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