GM opens bonus tap after 4-year drought

At GM, where there had been a bonus drought for four years, Mr. Smith banks $4.2 million in incentive awards and more than $400,000 in stock options, plus his $1.5-million salary for a total of $6.1 million clams. Executive VP William Hoglund, who retired at year-end, won't have to sweat the budget: He winds up with $3.2 million. G. Richard Wagoner, president of GM's North American Operations, receives an $800,000 salary and $1.9 million in extras, while Louis R. Hughes, executive VP-International Operations, pockets a total of $2.7 million, Executive VP Harry J. Pearce takes home $2.8 million and GM Chairman John G. Smale gets $500,000 for his part-time efforts.