Perspective

The CEO for General Motors has decided to take a fifty percent pay cut. Aw, how sweet. Such a giver.

What they neglected to report was that he makes about $10 million a year (all things included), plus he will receive $4.6 million per year as pension when he retires. And the pension is not tied to how well the company does; even if the comapny goes bankrupt, he still gets a check.

Come on. Going from $10 million to $5 million isn't "roughing it," especially when you can retire to almost $5 million a year waiting for you. Going from having a job in a productive automotive plant to not having a job is difficult. Even going from a $70,000 job to a $35,000 job is rough. But once you break a certain threshhold, you gotta ask yourself what the point is. I mean, what's the difference between $2.4 million and $3.8 million, for instance? It's one hundred good workers trying to care for their families, that's what. No sir, no brownie points for you, Rick Wagoner.

"EIR has determined that since 2000, the top executives for the Big Three U.S. automakers have collectively looted their companies for between $500-$750 million in obscene total compensation—equal to the wages of 15,000 production workers for one year. Instead, they should have fired themselves."