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The press was given information today about ousted GM CEO Rick Wagoner’s compensation package.

He will get over $23 million in installments for the remainder of his life. According to GM’s annual report he also is entitled to $366,602 in unvested stock awards and $534,627 in deferred compensation as of December 31, 2008.

Wagoner was told to step down by the government yesterday. He did so to ensure the longevity of GM…it’s actually kind of nice that he did that. In a way he sacrificed his job so thousands of others could keep theirs. However, $23 million is kind of like winning the lottery and he should be just fine.

Jeremy

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