Perot-Smith debate continues
Detroit — H. Ross Perot said Monday his ouster as a General Motors director was partly due to his opposition to executive bonuses. While conceding that some Perot criticisms are valid, GM chairman Roger Smith said he felt Mr. Perot was using the wrong forum - the media - to get them across.
He also took note of Perot's harshest points, that top GM executives should not be taking huge bonuses and were not proper in light of the automaker's poor performance lately and the fact that GM workers may get little if any profit sharing this year. Smith said, however, that bonuses will still be awarded this year.
As for the buyout, Smith said that the controversy surrounding it ``has done some harm'' but ``it's going to be a good investment for GM'' in the long run.