The best passenger planes


sas-mt.com keyword stats



Most current MSN search phrases:

Boeing 777 Seating Chart airbus a343
767seating chart  

Ford Ups Mullaly's Bonus

The Ford Motor Co. said Allan Mullaly, thegrant is $1 million more than the baseline
company's new CEO, will be getting anbonus promised by the board when he was hired
additional $1M bonus. The board of directorslast fall. The bonus comes in the form of
of the company has approved a $6 millionstock options and is payable over the next
stock option bonus, $1 million more than whatthree  years.
was  previously  promised  for  Mullaly.
Ford is now preparing to enter negotiations
Ford said Mullaly's bonus was based on hiswith United Auto Workers (UAW) and is
performance during the first several monthsanticipated to ask union workers to accept
of working in the company. For 2007, hissacrifices to help the company rebound. UAW
total compensation package could add up toPresident Ron Gettelfinger has been highly
$16.5  million.critical of executive bonuses proposed by
bankrupt Delphi Corp. according to analyst
According to documents filed with SecuritiesBradley Rubin of BNP Paribas, Wall Street is
and Exchange Commission, Ford's board alsounlikely to care much either way. "What's a
approved cash payments to other seniormillion? Plus or minus a million dollars is
executives to compensate them for a bonusnot going to determine whether Ford succeeds
program the company is scrapping in favor ofor fails," Rubin said. "You've got to pay the
a  new  compensation  plan.guy  for  the  risks  he's  taking."
The news about Ford's payouts came asRubin added that Mulally quit his job as the
thousands of salaried workers who signed upCEO of Boeing Co., a commercial aircraft
for buyouts or early retirement packages biddivision, to come and rescue the ailing Ford.
farewells to their friends and workmates. TheThe transfer was made at a time when the
announcement was also close to the reportingcompany has archrival Airbus SAS against the
of the 2007 $12.7 billion loss report of theropes.
automaker. "(It was a) sad day today, lots of
people I knew left," one worker said. "ManyFord's board also changed the
of the engineering offices look like Swissperformance-based bonus plan for its senior
cheese with all of the empty cubicles thatexecutives. This is to reflect the "one plan,
have  opened  up."one team" approach favored by the new CEO.
The plan will base executive bonuses on the
Ford spokeswoman Becky Sanch acknowledged thesame metrics as other salaried workers.
timing was less than ideal. "There's no idealNevertheless, since the current plan was
time to separate for our employees. Today'salready part of executive contracts, the
announcements were driven by SEC disclosurecompany agreed to buy them out with a
requirements," Sanch said. "Regarding theone-time  cash  payment.
overall pay, the company has always said it
is committed to providing employees withThe company did not disclose the actual
competitive pay and long-term incentives,"amount involved in the buy out transaction.
she further notes. The announcements wereTheir new bonuses for the senior executives,
critical and demanded from the company. Nowhich can total eight times their base salary
amount of force and efficiency from EBCdepending on how close they come to meeting
Active Brakes Direct could prevent thethe new goals, will be deducted by the amount
revelation. Timing is no moment because it isof  that  payment.
not one of the opportunities afforded the
company.Ford said the new bonus plan will be more
consistent and allow each white-collar worker
Mulally's bonus is part of a compensationto be judged by the same standard. The new
package potentially worth more than $35bonuses will be paid in equal shares of stock
million for 2006 and this includes one-timeoptions and restricted stock units.
hiring bonuses. The $6 million stock option



1 A B C D 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111