Newest GM Chief Highest Paid Federal Bureaucrat

Daniel Akerson, the new CEO of General Motors – a substantially owned subsidiary of Uncle Sam – just struck it rich.  Barack Obama’s Pay Czar, Kenneth Feinberg, approved a three-year $9 million compensation package for Akerson, who hails from the telecommunications and private equity industries.  Feinberg approved the pay package before resigning – one hopes from shame.     Akerson’s pay package must make even a handsomely paid G-15 federal employee salivate.  A senior G-15 federal worker makes an annual base salary of $129, 517.  That’s base pay; that doesn’t count any benefits, including a cushy retirement package.  Nine million bucks for a government worker bee is well off Uncle Sam’s 2010 Base General Schedule Pay Scale.  It might be profitable for voters to ask congressional candidates – particularly Democrats, who are Government Motors principal cheerleaders – why on...(Read Full Post)

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