Before filing for bankruptcy, General Motors unveiled a new vehicle during their 60 day deadline to avoid bankruptcy. What company did GM collaborate with to create this new vehicle?
A. Lamborghini
B. Segway
C. BMW
D. Harley Davidson
The answer is B. Segway. Now for your next question: Before Ed Whitacre was appointed chairman for the “New GM,” how much was his exit package when he retired in 2007 from the AT&T brand?
To get your answer to the first question, using I-Metrix,go to the Search tab, then type Segway into the “full text search” box.
Next click the 8-K link for General Motors. The 8-K talks about GM’s announced “collaborative” effort with Segway.
Now, for your second question regarding Whitaker’s exit package, you can find your answer at Footnoted.org. Not only did he get $158.4 million upon retiring, another filing note, for the five years ending in 2005, shows Whitacre made $85 million while shareholders lost over 40%.
July 9th, 2009 at 1:59 pm
Really disgusting. It makes most folks just give up and think it is impossible to reign in this horror visited upon all of us and the companies they cleaned out. I have worked with a bonus/incentive almost my entire life and I never, never, ever received one damn dime when my company lost money. So, 99.9% of us work to acheive more, to build upon and learn from our mistakes and the rest profit from their futility, greed and incompetance and seemingly never are held accountable.
July 9th, 2009 at 2:21 pm
RE: Ed Whitaker GM/ATT Just goes to prove what we have said for years. These highly paid CEOs don’t give a damn about their shareholders. All they care about is “what can I get from this company and how large of a salary can I get out them and how big of an exit package can I walk away with”????
Whatever happened to getting paid for your performance and making a successful company? What ever happened to the Henry Fords, Sam Waltons and R. O Andersons?
September 20th, 2009 at 7:08 pm
Every time I see a promotion featuring the NEW GM I get angry because of the thought of my GM Bonds that became virtually worthless. The new GM of the new General Motors talks about how happy he is about the NEW GM business position & how the company is helping out the public with their new programs. Well, how about the investors who lost out because GM thru them to the bus? Just offer us a discount or credit worth 1/2 of our GM losses towards a new GM car. Oh wait, now I can’t afford the insurance or upkeep!