General Motors CEO Rick Wagoner Removed By Obama Administration

The Wall Street Journal reported the Obama administration has forced the resignation of General Motors CEO Rick Wagoner. Wagoner served as CEO since 2000, but has been with the company for 31 years. Although he has overseen GM during some of the company’s most turbulent times, GM’s stock price has fallen from $70 per share at his appointment in 2000 to $2.88 earlier today. Below is a table detailing the compensation Wagoner has received over his time as CEO. GM has yet to file its proxy statement for 2008.

Year	Compensation
2000	$4,777,821
2001	$7,512,160
2002	$13,490,356
2003	$12,835,303
2004	$10,065,855
2005	$5,479,305
2006	$10,191,153
2007	$14,415,914
Total Compensation	$78,767,867