Ford Fatcat

Mulally gets $28 mln amid $12 bln Ford loss
Thu Apr 5, 2007 11:15AM EDT

By Poornima Gupta
Reuters
DETROIT (Reuters) - Ford Motor Co., which posted a loss of $12.7 billion last year, said on Thursday Chief Executive Alan Mulally received $28.18 million compensation in 2006, including an $18.5 million bonus.

Mulally, a former Boeing Co. executive, replaced Ford family scion Bill Ford Jr. as chief executive last September.

Chairman Bill Ford, who was CEO for the first eight months of 2006, did not receive any cash salary, bonus, or stock awards for 2006 as he had made a commitment in 2005 to forgo any new remuneration until the company's auto unit made sustained profits.

Dr. Z. masters the art of English B.S. (Or, how fatcats talk)

You remember Dr. Z. He made the Chrysler commercials with his thick German accent. He was asked whether Chrsyler would be sold off by Daimler, and he had the perfect meaningless answer:


"It is also true that we need to keep all options open and that I cannot disclose any details," Mr Zetsche said, ahead of DaimlerChrysler's annual shareholder meeting in Berlin.

"We need to have the maximum scope for manoeuvre," he added. "This means, that after reviewing all options, we will finally decide for the option that best meets our criteria."

Hey, Doc, welcome to the wonders of what we English speakers call "Bullshit."

CLICK
http://news.bbc.co.uk/2/hi/business/6525019.stm

Recommended Reading

"The Decline of Detroit" from BBC News

http://news.bbc.co.uk/2/hi/business/6346299.stm
OR CLICK HERE FOR STORY

--------------
---------