The Impact of Money on the Ability to Lead
Rick Wagoner, newly retired CEO of General Motors, is driving away from his career with a $20 million retirement package. That's what's being reported in the MSM (see here for one of the stories.) Wagoner had been CEO at GM since 2000 - so had nearly a decade to make an imprint on the company. Prior to that, he had been COO and CFO for the company - meaning he spent at least 15 years in the C-suite at GM. His company exists today thanks only to the largess of the American taxpayer. And thanks to the brilliant retirement package he negotiated sometime ago, Wagoner will never again have to work a day in his life – nor will his children. His time at GM was spent building up massive generational wealth that the autoworkers who worked for him cannot even fathom. (It's funny when Detroit talks about the expense of building cars, they never factor the enormous compensation package of the CEO into the equation.) The employees built cars - the CEO built wealth - for ...