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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: TimF who wrote (333095)	4/17/2007 10:51:30 AM
From: tejek	Read Replies (2) \| Respond to of 1573725

So when did Ford become the largest car company in the world? The most successful? The most profitable? So when did Mulally do something to earn $39 million? Learn to walk on water? Made Ford the best car company in the world? Ford is broke but it pays Mulally $39 million in 4 months. And then you question whether the rich are getting richer at the expense of the poor! _______________________________________________________________ Ford CEO Mulally rakes in $39 million in 4 months By James Prichard Alan Mulally, Ford's new president and chief executive officer, received compensation valued at $39.1 million during his four months on the job last year, according to an analysis of a federal regulatory filing on Thursday. Mulally, the former head of Boeing's Seattle-based commercial airplanes unit, succeeded Bill Ford as CEO on Sept. 1. The nation's second-biggest automaker lost $12.7 billion in 2006, the largest loss in its 103-year history, largely due to a massive restructuring plan undertaken amid a withering assault from Asian automakers that have taken an increasing share of the U.S. auto market. Ford expects more losses this year and in 2008, but expects to return to profitability in 2009. Mulally was paid a salary of $666,667 in 2006, a prorated amount based on the $2 million annual salary that the company agreed to pay him, according to Ford's proxy statement filed with the Securities and Exchange Commission (SEC). Mulally also received a $7.5 million hiring bonus and $11 million to offset performance and stock-option awards that he forfeited when he left Boeing. He got other compensation totaling $334,433, which included $172,974 for required use of corporate aircraft and $55,469 for relocation costs and temporary housing. Ford also gave Mulally stock and options awards that had an estimated value of $19.6 million when they were granted his first day on the job, the company said. In addition, Mulally took away almost $23 million last year from his Boeing service, including more than $21 million from incentive-plan stock payouts. In addition, Boeing gave Mulally stock options worth about $1.1 million and a performance award that will pay out up to $3.2 million in 2009. As a retired executive, Mulally receives a monthly pension from Boeing. He was paid $24,000 for the final quarter of 2006, indicating a pension of $8,000 per month. Bill Ford received other compensation valued at $393,848, including $185,232 for required use of corporate aircraft and $85,708 for security. The company also gave him stock and options awards that had an estimated value of $4.9 million when they were granted on March 10, 2006, but they were converted to shares of common stock and donated to a charity. Copyright © 2007 The Seattle Times Company seattletimes.nwsource.com