As we begin income tax season, George Will reminds us of how much we're paying our employees at Government Motors:
GM’s CEO Dan Akerson says his company is handicapped by government limits on executive compensation at firms that receive federal bailouts. Last year his salary and stock package of $9 million was $8,820,300 more than it should have been: $179,700 is the highest pay for civil servants, which is what executives at such firms are.
Since we're are paying top dollar for this guy, whose net worth is reported to be somewhere north of $190 million, let's look at his resume:
Akerson has an extensive resume with lots of corporate and private equity experience, but has had no experience running an industrial company like GM.