About time. He of course probably has 10M shares. Granted, he came on board kind of late when Ford Jr drove the co. in the ground, but his product lineup still sucks.

Get rid of Mercury and Lincoln needs vast changes. The MK lineup is crap.

Mustang sales will go down the tubes as soon as the Camaro gets released. Can’t compete w/a 300hp, 6-speed IRS-equipped Camaro for $23k.

The non-story du jour.

Well If I had been Mulally on his salary in the PAST, I’m SURE I could make the money I had count with worthwhile investments; $1 for a year or so isn’t a big problem for him.

He’s lucky the price of gas has dropped in half. Otherwise he’d need to make $2 per year.

He only needed his previous salary for a year or two to be home free for rest of his life. So doing this now not really says anything at all about his attitude.

soo does it go right back up after they get the 25 billion?

wow thats all wagoner makes? 1.65 million isnt very much for someone in his position… especially considering he probably lives a wealthy lifestyle and such a hit is going to be much more serious to his family than mulallys. 1.65 million is alot of cash, but it aint 49.9 million.

Waitaminute, so if they don’t get the help then he’ll keep his salary?? wtf?

Inject THAT money into the company a$$hole!

The concept of an executive salary cap is promising. I’m very surprised to see Wagoner makes the least, by such a large margin, and has been losing his salary bit by bit every year. That really does force a lot of people to eat foot, doesn’t it? It seems there is some kind of accountability at work at GM.

Mullaly probably got the pay he did when he moved from Boeing to Ford, because he was a hot ticket CEO coming off of that success. I do feel bad that the guy is getting the end of the stick that Bill Ford Jr. took a decade long **** on. Even still, $50M in two years when the ship’s going down?

johnny, that struck me too…..if they dont bail them out then he will forget the dollar salary and take his normal salary from a company in worse shape without the help…..ford may want to get that clarified quick or it could be a big public relations gaff….

@A4, what you are seeing is the front-end package, not the perks and other very cleverly handled finance schemes executed by very savvy finance people; GM pays for Wagoner in other ways under a GM expense versus directly connecting the expense to Wagoner. And Mulally’s $50 mill is ludicrous considering Ford has been sliding like an avalanche. I do give a great deal of credit to Mulally for shutting his mouth and not showboating, like GM’s Lutz who has done irreparable damage to GM due to his number one trait: arrogance.

Oh c’mon, like they weren’t going to do this all along. How many sound bites and press clippings do you think this gesture is going to generate? If you work it out based on that it’s probably the cheapest advertising they’ve had in years.

@johnnycanuck, as usual, you are right. (Still pondering those DTS seats?)

this is the way it should be, they should make no cash AT ALL, all their income should be from stock, and the number of shares they get should be contingent on their performance. No cash outlay, they get net worth, and can either sell the shares and pay capital gains or live off of dividends and pay capital gains. much less room for creative accounting.

Ford just said that they DON’T NEED BAIL-OUT MONEY… It will be nice they say but they don’t need it, unlike GM, remember “$50 Billion NOW or $125 Billion Later”

I just read that the UAW is having an emergency meeting on Wednesday to discuss concessions. The Big 3 are meeting on Wed and Thur in front of Congress. The UAW has had plenty of time do this f***ing meeting since the last time the Big 3 met in front of Congress. Someone in the UAW needs to get their head out of their *** and use their stupid brain. This meeting should have taken place 2-3 weeks ago. Why the hell are they doing it now when the Big 3 are meeting with Congress on Wed and Thurs? What dumbf****. Makes you wonder how the UAW management got their jobs.

If I were Mullaly I would ask to be laid off, collect unemployment so I can make more than a buck a year, and then do volunteer work for Ford for deferred stock option grants with a 1¢ stike price exercisable in 2011.

This way when the feds extend unemployment benefits his butt will be covered till 2010 or so.

I find it funny that politicians, who spend more money than anyone on frivolous crap, are trying to tell businesses that have been around for a long time how to spend their money. This is capitalism, not communism.

Also, since his salary is only $1, when he files his taxes that means the government will give him a bunch of money since he won’t make enough to pay taxes and he’ll still take deductions such as his mortgage. Gotta love our screwed up tax system.

You don’t get money back from the gov’ due to having deductions gregsy; it doesn’t work like that. For that matter, if you make under $400, you don’t even need to file. Furthermore, since I didn’t pay any tax for 2007 due to it all already being withheld and ended up getting some back, I got half the $700 tax credit.