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Ford CEO paid $4.1 million in stock

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OhioChick Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-08-08 09:02 PM
Original message
Ford CEO paid $4.1 million in stock
Source: Economic Times India/Reuters

9 Mar, 2008, 0128 hrs IST

DETROIT:Ford Motor Co has said it had awarded Chief Executive Alan Mulally restricted stock worth $4.1 million and 3.56 million stock options after a year in which the No. 2 US automaker lost $2.7 billion.

The compensation, which was detailed in a filing with securities regulators, came just two days after Mulally announced that all Ford employees in the United States and Canada would be paid bonuses for 2007.

Fords larger rival in the United States market, General Motors Corp, on Thursday approved a 33% hike in the base salary of Chief Executive Rick Wagoner to $2.2 million and would give him a bonus for $2.43 million if GM hits its performance targets.

Read more: http://economictimes.indiatimes.com/International_Busin...



Nice to hear that a CEO gets all that $$$$, while the corporation lost $2.7 billion in one year...
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mac2 Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-08-08 09:06 PM
Response to Original message
1. It's just plain fraud.
Edited on Sat Mar-08-08 09:08 PM by mac2
The workers and shareholders should sue him for taking such a large salary even if it is stock. It's a permanent salary in a way..part of the company which is failing. I don't care if his salary compensation compares to others. His employees don't get stock which make them rich for their labor and ideas...long years of work.

Engineers are lucky to get below $100,000 per year. They are under pressure, travel all the time, and are highly educated.
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Fenris Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-08-08 09:08 PM
Response to Original message
2. Restricted stock isn't as wonderful as it sounds.
The restriction implies that conditions have to be met. Often restricted stock is transferable based upon performance. The article does not specify the restrictions.

Not sure I'd be thrilled at getting Ford stock considering the year(s) that Ford has had. Cash is preferable.
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OhioChick Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-08-08 09:10 PM
Response to Reply #2
3. He Shouldn't Even
Have gotten Restricted stock due to the losses Ford had.
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