Let's see how being the CEO of a telco that had little competition compares to the automobile industry. It will no longer be as easy to control Congress as GM (and ATT) did in the past. If he manages to turn around the company, he'll be worth it though even modest growth will be a challenge. Paying such a luxurious compensation plan this early sounds, well, a bit early.
General Motors (GM) has said chief executive Ed Whitacre will get an annual salary of $1.7m (£1.1m), plus $7.3m in shares at a later date.
The pay package was approved by the US Treasury, which spent billions of dollars bailing out the carmaker last year and now owns a large stake in it.
GM also said Mr Whitacre's predecessor, Fritz Henderson, is being paid $59,090 a month as an adviser.
