GM CEO's 2007 Compensation Worth $15.7 million

by Jarrett Martineau | April 25, 2008 at 03:52 pm

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As consumers pinch pennies and begin bracing themselves for a much-feared economic downturn in the United States, a select few fat cats are still livin' very large. Mind the gap.

DETROIT — General Motors Corp. Chairman and CEO Rick Wagoner received compensation valued at $15.7 million for 2007, up 64 percent from the previous year, according to a federal regulatory filing the company made on Friday.
Wagoner earned $1.56 million in salary and no bonus last year, but he received incentive awards of $1.8 million, and stock options and restricted stock valued at $11.7 million, according to the filing with the U.S. Securities and Exchange Commission.