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$20,000,000.00 Golden Parachute

(CNN) — General Motors’ outgoing chief executive Rick Wagoner is eligible to receive more than $20 million in his retirement package, according to a filing with the Securities and Exchange Commission.

Wagoner announced Monday he was resigning at the request of the Obama administration, which has prodded GM to restructure as the company receives government financing to stay afloat.

Maybe we should just let them sink!

http://www.cnn.com/2009/US/03/30/gm.ceo.compensation/index.html

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