“GM” = Government Managed

Had you told me a year ago that the president of the United States would have it within his power to oust the CEO of a large American corporation, I would have said no way. But that’s exactly the place we find ourselves in. The government has asserted itself in decisions from bonus pay to firing to approving or denying restructuring plans. They justify this based on the bailout money they gave to companies like AIG and GM, but there are indications that they want to limit executive pay for companies not receiving any federal dollars. What a difference a year makes.

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