GM CEO Rick Wagoner received a package worth nearly $5.5 million in 2005, 46 percent lower than the $10 million package he received in 2004, reports the Detroit News. Wagoner’s salary remained at $2.2 million, but he received no bonus for the year, compared to a $2.5 million bonus in 2004. Meanwhile, Bob Lutz, vice chairman for global product development, received a package worth $3 million, down from $6.5 million in 2004. Lutz also received no bonus. The Leftlane Perspective: Amid GM’s weakening financial situation, it’s clear everyone is sharing the burden for poor performance.
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