General Motors has long been one of the nation’s largest advertisers, but the Detroit automaker shed 54 sponsorship contracts during its time in Chapter 11 bankruptcy protection. The canceled contracts run from billboards in New York’s Time Square to livestock expos in Texas.
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Former GM Chairman and CEO Rick Wagoner — ousted by President Barack Obama in March — will collect an $8.2 million exit package, plus a $74,030 annual pension, according to a filing Tuesday with the U.S. Securities and Exchange Commission.
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President Barack Obama’s top auto adviser Steve Rattner is returning to private life now that General Motors Co. and Chrysler Group LLC have emerged from bankruptcy faster than most experts thought possible.
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