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The main product man for the big n' bad automaker from Detroit exercised an option to buy 53,336 shares in his employer for $20.90 each. That's a total of $1.1 million for $1.7 million in stock (based on the current price of $31.50). Not too shabby a deal if you ask us. Although "Maximum" Bob then turned around and sell 5,502 of the shares for $173,313 for tax purposes, he's still up some 47,000 shares. GM's calling it showing "confidence in our turnaround." We call it "wanting to make a quick buck on a higher stock price." I mean come on, this is the guy who basically told shareholders they'd pry his benefits from his cold dead hands. Just sayin'...

Lutz spends $1.1 million to raise GM holdings by 20% [Freep]

Bob Lutz Wants You To Buy A House To Help GM Sales; Lutz Fires Back at York, Takes Out Own Foot [internal]