So what is the big deal? Ron Gettelfinger is putting the "finger" on the outrageous 2007 compensation package for the great saviour of Ford, Alan Mullaly. Mullally got $2M in salary [which is about right] and $ 4M in bonus [for doing what it is not clear] and $11M in stock. A total if over $50M has been paid to Mr. Mulally since he came on board as the "White Knight" to save Ford two years ago. James McNerney, Mulally's successor at Boeing, earned about the same amount in 2007.
What does this seem to mean?: Gettelfinger, stockholders, and those of us in the media really wonder if this kind of comp package represents a "substantial sacrifice to help Ford survive so that the company can rebuild and reinvest" and if the employees in or out of the UAW made a sacrifice with job losses and reduced benefits so that management could reward themselves with higher compensation packages. You got to sell a lot of cars to pay these guys this kind of money.
Who really is going "save" Ford? The top seven Ford executives were paid a total of nearly $65 M last year--that is a little less that $ 10 M each. Is it really a guy like Mulally that turns around a company, particularly car company worth $17M per year? Are these front line managers really worth it? Are they really the ones who are going to turn Ford around? Or is it really a band of hard working, loyal second and third echelon managers in the offices and in the trenches of the market place-- and every last employees who elected to remain and fight-- that really are going to "save" Ford--not to mention the dealers who are moving metal and closing sales in what could be the toughest car market in 15 years?
What does this seem to mean?: Gettelfinger, stockholders, and those of us in the media really wonder if this kind of comp package represents a "substantial sacrifice to help Ford survive so that the company can rebuild and reinvest" and if the employees in or out of the UAW made a sacrifice with job losses and reduced benefits so that management could reward themselves with higher compensation packages. You got to sell a lot of cars to pay these guys this kind of money.
Who really is going "save" Ford? The top seven Ford executives were paid a total of nearly $65 M last year--that is a little less that $ 10 M each. Is it really a guy like Mulally that turns around a company, particularly car company worth $17M per year? Are these front line managers really worth it? Are they really the ones who are going to turn Ford around? Or is it really a band of hard working, loyal second and third echelon managers in the offices and in the trenches of the market place-- and every last employees who elected to remain and fight-- that really are going to "save" Ford--not to mention the dealers who are moving metal and closing sales in what could be the toughest car market in 15 years?
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