Six Top GM Executives Liquidate Stock Holdings

Illustration for article titled Six Top GM Executives Liquidate Stock Holdings

Six GM executives, including outgoing product czar "Maximum" Bob Lutz, disclosed Monday they sold almost $315,000 in stock and liquidated their remaining direct holdings in the automaker ahead of a probable stock-value-rendered-worthless bankruptcy.

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The five other executives, including Lutz's successor, Thomas Stephens, GM North America President Troy Clarke, Chief Information Officer Ralph Szygenda and manufacturing chief Gary Cowger and head of European operations Carl-Peter Forster also sold all of their GM stock holdings, according to the filings.

Keep in mind that $315,000 in liquidated stock would have been worth around $10,000,000 when they first received the stock grants, so, you know, use that to dampen your populist anger. [via Reuters]

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DISCUSSION

My Corvette Red blood is on the verge of turning Ford Blue.

I continue to hold out some hope GM will survive all this, but this shakes even my faith.

May the lord have mercy on my soul.

Also, may they survive any bankruptcy filing, so that I can gamble and pick up the stock afterwords.