[David Fermani]

Originally Posted by Setec Astronomy

IMO a large part of today's problems stem from the fact that our economy doesn't produce tangible goods in the way we once did.

If we are going to bail out the Wall St. firms when their greedy executives got hoist by their own petard, then we should definitely bail out the auto companies, who at least represent an infrastructure that can be leveraged in a time of crisis

DETROIT -- General Motors Corp. Chairman and CEO Rick Wagoner's compensation package for last year is valued at $15.7 million.

That's 64 percent more than 2006 when the package was worth $9.57 million.

GM spokeswoman Julie Gibson says much of the increase is stock incentive awards that are based on future performance.

Wagoner earned $1.56 million in salary and no bonus last year, but he received $1.8 million in incentive awards and stock options valued at $11.7 million.

GM lost a record $38.7 billion in 2007, largely due to a charge for unused tax credits. Without the charges and other one-time items, the company lost $23 million.