GM CEO Bail-out

Ousted GM CEO Rick Wagoner Gets Lucrative Severance
The bailed-out auto giant General Motors has announced a retirement deal for departing CEO Rick Wagoner. The Obama administration forced Wagoner to resign earlier this year under the terms of GM’s government rescue. Wagoner will receive $1.6 million annually over the next five years, along with an annual salary of over $74,000 for the rest of his life.