General Motors Corp. says executive pay was sliced in half for 2005, making good on its promise to tie compensation to financial performance. GM Chairman and CEO Rick Wagoner saw his total 2005 compensation, including salary and other compensation, fall to $5.48 million from prior-year’s $10.06 million, a 45% drop. As with all top GM executives, Wagoner, 53, went without a bonus in 2005. He has not received a salary hike since Jan. 1, 2003, according to the company’s proxy statement. ...
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