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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (49358)	4/7/2006 2:13:21 PM
From: shades	Respond to of 116555

For teenagers, unemployment rose to 15.7 percent last month from 15.4 percent. Oh the humanity - you mean we actually have teenagers seeking employment and working? Oh the cruelty of this world - they need to be at home paying nintendo or going shopping with sole and mia! Latino boy can do what they are doing - they don't WANT to work those jobs - bush assures me.

To: mishedlo who wrote (49358)	4/7/2006 2:14:14 PM
From: shades	Respond to of 116555

Ford chairman's compensation falls 40 percent after 2005 losses Some people may still have a job Mish - but they aren't getting paid as much: freep.com DETROIT (AP) -- Ford Motor Co. Chairman and CEO Bill Ford received a total compensation of $13.3 million in 2005, 40 percent less than the year before after the automaker's North American division suffered more than $1 billion in losses, according to a proxy statement filed Friday with federal regulators. Ford said last May that he would take no salary, bonus or other awards until the automaker's automotive operations return to profitability. But he did receive nearly $5 million in restricted stock equivalents under a long-term incentive plan that was established before he made that commitment. Ford plans to donate that amount to charity, the company said. Ford also was granted 1.7 million stock options under a long-term incentive plan. The value of those options was nearly $7.5 million in 1998, when they were granted, but they currently have no value because the strike price is above the current trading price of Ford shares. Ford took no cash salary in the first quarter of 2005, but did receive a restricted common stock grant valued at $372,043. Ford, who is the great-grandson of company founder Henry Ford, received a compensation package valued at $22 million in 2004. The Dearborn-based automaker said Ford President and Chief Operating Officer Jim Padilla received a compensation package worth nearly $6.8 million in 2005, including $1.5 million salary and a performance-based incentive award of restricted stock valued at $1.8 million. Padilla, 59, announced Thursday that he will step down on July 1. Compensation for Mark Fields, executive vice president and president of the Americas, totaled $3.2 million, including a $972,500 salary and a $1 million cash retention payment. Fields, who is one of the main architects of Ford's restructuring plan, will have to repay the $1 million if he leaves voluntarily in the next two years. Ford, the nation's second-largest automaker, earned $2 billion last year, down 42 percent from a year earlier but still its third consecutive yearly profit. But its North American division lost $1.6 billion, and Ford has announced plans to cut 30,000 jobs and close 14 plants as part of a restructuring. Ford also said Friday that in addition to Padilla, board members Carl Reichardt and Marie-Josee Kravis will not stand for re-election at the company's annual meeting May 11 in Wilmington, Del. The board plans to officially reduce the number of directors from 15 to 12 at the meeting. Ford shares were up 2 cents to $7.67 in morning trading on the New York Stock Exchange.