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News Media distortion Posted by MI-Roger [Email] (#882) [Profile/Gallery] (more from MI-Roger) on Tue, 13 Oct 2009 04:03:14 In Reply to: Re: CEO of GM (replaced Rick Wagoner), dtech, Mon, 12 Oct 2009 19:35:01 Members do not see ads below this line. - Help Keep This Site Online - Signup |
The news media reported the $20 Mil number, but that number was the summation of all pension payments and scheduled bonuses over the remaining 3+ decades of his assumed lifespan. With no discounting to Net Present Value.
Then came the bankruptcy..........
The last report, buried in a side column of the Detroit papers, was that his annual pension is now ~$70K per year, which seems too low to be accurate. And everyone's "Old GM" stock is worthless.
posted by 198.208.15...
_______________________________________ Saabs owned: 2008 9-5 Aero Sedan, sold at 227K miles 2006 9-3SC 2.0T - Wife's daily driver 2000 Viggen Convertible - Sold May, 2022 1964 Quantum IV Formula Car - Retirement project 2000 9-5lpt Sedan, sold at 318K miles
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