Owner's Review: 2009 Chevrolet Traverse
Green
Trucks
Luxury
Family
Brand
Muscle
See more sites from  HighGear  M E D I A  >>

Fritz Henderson Loses $310,000, Calls It 'Fair'

Fritz Henderson Loses $310,000, Calls It 'Fair'

By Richard Read's avatar Richard ReadRichard Read October 29th, 2009

Fritz Henderson, GM CEO

Fritz Henderson, GM CEO

Enlarge Photo

The Treasury Department made headlines last week when it announced that bigwigs at bailed-out companies would be taking some sizable pay cuts. From banks to auto companies, many of those affected by the plan have remained silent, but General Motors' Fritz Henderson has now admitted that it's the right thing to do: "tough", but ultimately "fair". Of course, he's one of the lucky ones who's managed to avoid the feds' $500,000 salary cap. In fact, even with the reduction, Fritz will still make $950,000 a year, which sounds slightly more than "fair" -- though losing $310,000 worth of salary is slightly more than "tough", too. [DetNews]

Fritz Henderson, GM CEOEnlarge Photo The Treasury Department made headlines last week when it announced that bigwigs at bailed-out companies would be taking some sizable pay cuts. From banks to auto companies, many of those affected by the plan have remained silent, but General Motors' Fritz Henderson has now admitted that it's the right thing to do: "tough", but ultimately "fair". Of course, he's one of the lucky ones who's managed to avoid the feds' $500,000 salary cap. In fact, even with the reduction, Fritz will still make $950,000 a year, which sounds slightly more than "fair" -- though losing $310,000 worth of salary is slightly more than "tough", too. [DetNews]

Tags: General Motors, bailout, bankruptcy, GM, U.S. Treasury, Fritz Henderson



More News


More From Around High Gear Media


Responses (0 total)

Be the first to post a comment

Post a comment

Post anonymously, or
(Required)
(Required - will not be published, sold or shared)
(Optional - your 'posted by' name will link to the URL)

Remember Me?

I have read TheCarConnection.com's privacy policy