Ford CEO to work for 1 Dollar

[atmmac]

Alan Mullaly will be working for 1 dollar if Ford is to take any bailout money.

This is a very smart move and I think this is the kind of move that all the CEO's of the big three need to be making. they need to prove to America and to congress that the big 3 are ready to change and that they are doing everything in their power to make that change. Im also happy to hear that Rick and Alan will also be driving one of their cars to the congressional meeting instead of taking private jets. (Thank God). Ford is also selling all of its private Jets.

At this point it sounds like Ford is making some good moves. If any of the big 3 are to survive ford is definetly in the best position with enough cash to make it to 2010. I really hope GM can survive but if it doesn't i can honestly say i'll be buying cars from whatever American car company is left.

 

[BigJimZ16]

Alan Mullaly will be working for 1 dollar if Ford is to take any bailout money.

This is a very smart move and I think this is the kind of move that all the CEO's of the big three need to be making. they need to prove to America and to congress that the big 3 are ready to change and that they are doing everything in their power to make that change. Im also happy to hear that Rick and Alan will also be driving one of their cars to the congressional meeting instead of taking private jets. (Thank God). Ford is also selling all of its private Jets.

At this point it sounds like Ford is making some good moves. If any of the big 3 are to survive ford is definetly in the best position with enough cash to make it to 2010. I really hope GM can survive but if it doesn't i can honestly say i'll be buying cars from whatever American car company is left.

But hey, he's building Fords... how much can thaty really be worth???

 

[Hib Halverson]

There are some reports that Mullaly's salary already was $1.00 annually.

The idea that government interest in either "bailing out" or loaning the American car companies money somehow hinges on whether or not they cut executive compensation is populist, liberal bull shit.

What the American car companies need to do is drastically cut the number of dealers they have and the UAW needs to agree to concessions in pay and benefits. Unfortunately, to be able to make that happen would probably require a Chapt 11 BK filing and that would be the kiss-of-death to sales.

Nevertheless, without those changes, Chrysler and GM won't survive in the long term. Ford might not, either.

The private jet issue is more liberal crap.

First, those jets all seat 8 to 15 people. Anyone who thinks Mr. Wagoner, Mr. Mullaly and Mr. Nardelli came to D.C. by themselves is an idiot. You need to divide the cost per hour by the number of people on board.

Secondly, many American companies the size of Chrysler, GM and Ford require that executives at the level of Wagoner, Mullaly and Nardeli, don't fly commercial because their insurance companies mandate that.

Thirdly, business jet aircraft reduce the cost of doing business in many cases.

The sad thing is that even if the Feds do provide some support, when it runs out, the industry will be in near the same situation as now because one big problem...to much capacity...will not have been addressed.

Chrysler needs to die.
Ford needs to be left to it's own devices because it's in better shape.
GM should get loans but only if the UAW agrees to take some serious cuts in pay and bennys.

Of course, the next big elephant in the room is CAFE which is much more of a way liberal politicians protect union jobs than it is a way to force car companies to make fuel-efficient vehicles.

If Pres.-elect Obama had any balls, he'd pressure Congress to repeal CAFE.

Lastly, even if the American companies get loans or a "bail-out", they're going to have to accept the liberals in Congress telling them how to make cars and run their businesses. In the long run, that's a big negative because what the Henry Waxmans of the world think cars should be is unlikely to sell very well.

 

[BigJimZ16]

One of the things many people forget is that the Asian transplants were ALL government subsidized before they got here. There never has been a level playing field!! They perfected their products and stratagies at cost of their governments. How many Chevys were sold in Japan in the sixties??? I've been in the steel industry for 35 years and have lived through the downsizing and union concessions of the early 80s and late 90s. The auto makers need to suffer a similar process. American steel can compete with anyone in the world as long as the playing field stays level!!