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He wins $1 million but not for long

GM sales and marketing VP Michael Grimaldi shot a charity golf match hole in one. The feat won him $1 million. Not so fast, though. As a sponsor of a WJR-AM radio fundraiser, GM had paid Mr. Grimaldi's $5,000 entry fee. GM policy says that, under such circumstances, he was representing the automaker and therefore isn't personally entitled to receive any prizes. Instead, the money went back to charity.

Oct 01, 2001

GM sales and marketing VP Michael Grimaldi shot a charity golf match hole in one. The feat won him $1 million. Not so fast, though.

As a sponsor of a WJR-AM radio fundraiser, GM had paid Mr. Grimaldi's $5,000 entry fee. GM policy says that, under such circumstances, he was representing the automaker and therefore isn't personally entitled to receive any prizes. Instead, the money went back to charity.

Mr. Grimaldi picked which ones.

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