Half of his pay is dependent on the performance of the company, so that looks pretty reasonable relative to the pay of other CEOs at big companies. It probably doesn't look reasonable to the guy who just got laid off.
I suspect that Wagoner is under a lot of pressure from the board to turn things around. To me it seems the company is in crisis mode.
To me it was a foregone conclusion because the union and the company had already agreed to it.
These are small, insignificant adjustments relative to the size of the company.
They're starting to act like a company that burned through $7 billion in cash last year.
It's not bet-the-company, but it's pretty darn important. Well, maybe it is bet-the-company.
In an environment where nobody's earning raises, if they turn the company around, they get rewarded.