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Microcap & Penny Stocks : Rat dog micro-cap picks... -- Ignore unavailable to you. Want to Upgrade?

To: joseffy who wrote (39419)	2/25/2009 4:16:43 AM
From: Bucky Katt	Read Replies (3) \| Respond to of 48461

Ford Executives to Take Pay Cut. Leaders at Ford will take a 30% cut to their compensation this year. The move comes after the auto maker exacted new concessions from its hourly workers. In a memo from Ford Executive Chairman William Ford Jr. and Chief Executive Alan Mulally, the top leaders of the company said they agreed to accept a 30% reduction in their salaries over the next two years. Ford's board of directors will also forgo the cash portion of its members' compensation this year, according to the memo sent to all Ford employees Tuesday afternoon. Performance bonuses for salaried employees and senior executives for 2009 will be eliminated. This comes on top of the previously announced elimination of performance bonuses for 2008, and merit pay increases for North American salaried employees in 2009. The announcement Tuesday afternoon arrived a day after the Dearborn, Mich. auto maker received added flexibility in how it funds a union-run health-care trust fund for retirees. Ford, which faces nearly $10 billion in health costs for retired union workers, now may make up to half its contributions in Ford stock rather than in cash. Its rivals at General Motors Corp. and Chrysler LLC are still negotiating over the issue required by the conditions of their $17.4 billion loan agreements with the government.