Monday, July 14, 2008

More Sobering Information

The market capitalization of General Motors is now less than The Gap, Hershey Chocolate, or Starbucks. Not all three combined, but any one of the three.

And yet, according to a June article from the Associated Press:

Rick Wagoner, chief executive of General Motors Corp., announced earlier this month the company had to close four plants that make trucks and SUVs because of lagging demand as fuel prices soar. That followed the posting a $39 billion loss in 2007, a year when its stock price fell by about 19 percent, without adjusting for dividends.

And Wagoner? His pay rose 64 percent, to $15.7 million.

No comments: