GM Continues to Blur the facts

Prior to the Bailout... the CEO of GM made over $20 million in "other compensation" each year in addition to his salary. So promising to reduce his salary to $1 per was no big deal.

Of course no mention is THIS story about that. "Oh look! He promised to do it and did. What a great sacrifice!"

GM's ousted CEO eligible for $20M retirement package - CNN.com: "Wagoner said late last year he would accept a $1 annual salary if the federal government would come through with billions of dollars in loans for GM. The loans came, and Wagoner's $1 salary commenced January 1, according to a filing with the SEC."

(Via CNN.)