DETROIT (Reuters) - General Motors Corp (GM.N: Quote, Profile, Research, Stock Buzz) Chief Executive Rick Wagoner's salary and other compensation rose 64 percent in 2007 to about $15.7 million, mainly due to option grants, according to a proxy filed on Friday.

The GM compensation committee cited significant progress over the past few years in reducing the automaker's health care cost burden, increasing growth internationally and improvements in its cars and trucks in the 2007 awards to executives.

Wagoner's compensation rose from about $9.57 million in 2006. The figure was arrived at based on Wagoner's salary, all other compensation and the basis of annual grants.

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What's wrong with this picture?

Think there's a CEO union?

The real problem in big business today is the looking short term get my riches and get out attitude from the board on down.

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NEW YORK (CNNMoney.com) -- Struggling Ford Motor Co., which posted a record $12.7 billion net loss in 2006, gave its new CEO Alan Mulally $28 million for four months on the job, according to the company's proxy statement filed with the Securities and Exchange Commission Thursday.

The Ford (Charts) pay package for Mulally comes on top of the $7.4 million that aerospace company Boeing (Charts) had previously reported paying him for his eight months running that company's commercial aircraft unit before he made the move to Ford at the beginning of September.