Wagoner got a $20 million payday along with his pink slip?

[Stinky The Clown]

So said Gene Sperling to Matthews just now.

Interesting.

Hey Gene .... fire me ..... 'kay?

[babylonsister]

1. That's his retirement fund. We should be so lucky...

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=389&topic_id=5357871&mesg_id=5357871

[Stinky The Clown]

4. Feh .... will the UAW workers be so lucky?

[B2G]

14. The UAW

isn't hurting in regards to their retirement benefits. Trust me.

[rurallib]

2. I could be fired for half that price!

[Deja Q]

3. Fuck you, I wanna be fired for a quarter of that price!!

:rofl:

[rurallib]

7. bastards got us racing to the bottom again.

[Deja Q]

8. .

:rofl:

:evilfrown:

[soothsayer]

5. How come when Dan Mudd got fired from Fannie they clawed back his $10M parachute?

seems unfair for one to get it and one not to

[Coyote_Bandit]

6. Some

get golden parachutes as part of their contract - regardless of their job performance.

The rest of us just get sh*t canned.

[dysfunctional press]

9. so what...? that's what his contract calls for.

:shrug:

[Stinky The Clown]

10. Yup .....

...... its all good.

:shrug:

[soothsayer]

12. So did Dan Mudd's, but they still clawed it back.

[dysfunctional press]

13. i'm not familiar with the circumstances surrounding his case-

but i do know that it's not really fair to refer to what wagoner is getting as a "golden parachute". he's been with gm for a long time, and it's not $20million in cash.

[tammywammy]

11. Retirement benefits

He's not getting any golden parachute.

""Most" of Wagoner's retirement benefits "will be paid out as an annuity over five years, the remainder is a small lifetime annuity," GM spokeswoman Julie M. Gibson said in an email earlier today. But in a subsequent "clarification" email after this story published, Gibson said that the terms of Wagoner's final compensation were not yet hammered out. "Specifics on any compensation entitled to, or actually paid to Mr. Wagoner are still being reviewed," she wrote.

Wagoner "has worked for GM for nearly 32 years and he is entitled to certain vested awards, deferred comp and pension and other post retirement benefits," the company said in an official statement. "

http://www.abcnews.go.com/Blotter/story?id=7208201&page=1