Whatever happened to the captain goes down with the ship? Six GM executives have sold more than 200,000 shares with the impending offer of 10% share in its equity, in exchange for wiping out $27 billion in debt; as well as the potential sale of 50% stock to the government and 39% to the UAW. Bob Lutz disposed of his 81,360 shares for a measly $130,990. Vice Chair Thomas Stephens, VPs Carle-Peter Forster, Ralph Szygenda, Gary Cowger and Troy Clarke followed suit.
Then again, if GM Execs exercised this kind of financial responsibility beforehand, maybe none of this would be necessary.