[♥]

Ford pays their CEO $28 million for 4 months.

Meanwhile, they are on the verge of bankruptcy and laying people off.

If I was going to buy a new Ford vehicle, I wouldn't now. May as well feed a family in Japan instead.

[bstone]

Is that a pipe or an I ?

[Dakar²]

I'd hate to see a company with such a long history in the industry go under but honestly, I'd never buy one.

[Chuckit]

Originally Posted by bstone 

Is that a pipe or an I ?

It's a Firefox-doesn't-handle-Unicode-quite-right-and-you-should-use-Safari.

[♥]

It shows up as a ♥ in Safari.

[Chuckit]

Originally Posted by ♥ 

It shows up as a ♥ in Safari.

For everyone's reference:

[mac128k-1984]

Yeah, read the same thing on the web, unbelievable

[Chuckit]

Oh, as I was going to say: I don't care either. I don't buy their cars, and I'm not aware of any great humanitarian efforts they're involved in, so what they do has no effect on me whatsoever.

[Big Mac]

Perhaps it's stupid policies like that package that have landed Ford in the position it's in. OTOH, they do use Mac minis on their assembly lines - you gotta like that, right?

[indigoimac]

Originally Posted by ♥ 

It shows up as a ♥ in Safari.

Same in Firefox 2, anyway, I really think that's the least of their problems, christ, they only have 1 even remotely inspiring and that's the Mustang

[stevesnj]

A sucky car company makes itself look even worse...shame on Ford! This shows they always did care more about themselves than the working class.

[centerchannel68]

Yep, this pisses me off. NOBODY IN THE WORLD deserves that much money. Period. I don't care what you accomplished, it is just physically impossible for anybody to 'earn' that much in that little time.

[powerbook867]

Complete bullshit. I agree with Rob on this one 100%. Gut the work force, still a slightly above average product line, earnings in the toilet...

Even GM is starting to finally get their act together between the new mini cars coming down the pipe, the new Malibu, the Aura..

Pretty soon it'll be the big 2. Toyota and GM.

(The only thing that could possibly save Ford is the stake it has in Mazda)

[Randman]

I thought Ford has already folded.

[highstakes]

Ford will be the next Chrysler, owned by either Volkswagen or Toyota.

[Captain Obvious]

The UAW plus the lack of any innovation in design killed Ford.

The Taurus alone could have kept them afloat but they mortgaged their company's future on trucks while foreign imports became in vogue. But really I blame the unions for allowing reliability to go to sh!t.

[Rumor]

They should quit making cars (except the Mustang) and just make trucks.

[xi_hyperon]

Looking at their lineup, I am amazed that they think it is anything other than a motley assortment of eyesores (exception: Mustang).



Really? They're barely hanging on and that's the best they can do?

[mac128k-1984]

Originally Posted by highstakes 

Ford will be the next Chrysler, owned by either Volkswagen or Toyota.

I got news for you, Daimler is looking to unload Chrysler, I don't think too many companies are looking to buy them - not when they're hemorrhaging so much cash.

[iREZ]

i would think that the 300 brought chrysler back to stable ground, i cant be on the road for more than 30 sec before seeing one of these on the road.

[Gossamer]

I hate the 500, the new Focus is ugly, the Fusion looks pretty good, the Mustang is too heavy, the Ranger gets awful milage, the F150s are rock solid, there's too much emphasis on the SUVs.

[CreepDogg]

Disgusting. But hey - what's $28M when you lose $12.7 BILLION?

For most people, you get heavily rewarded AFTER some major accomplishment (which I assume would mean positive results for the company). I'll never understand why that doesn't apply to CEOs, or why stockholders put up with this crap.

[OldManMac]

Originally Posted by Captain Obvious 

The UAW plus the lack of any innovation in design killed Ford.

The Taurus alone could have kept them afloat but they mortgaged their company's future on trucks while foreign imports became in vogue. But really I blame the unions for allowing reliability to go to sh!t.

I'm always amused when I hear the unions being blamed for something. The unions don't make the final management decisions; the board and high level executives do. The unions made demands, and the executives capitulated. If you go to your boss and demand a raise and he gives it to you, and then the company goes belly up, it's his fault for giving it to you, not your fault for asking. The board of directors and management is responsible for all aspects of company operations. If management feels their demands are excessive or they're doing a lousy job, then it's up to management to correct those situations. If management lets the inmates run the prison, they have no one to blame but themselves. And the Taurus was slowing down in sales, as it was a tired old design, and again, that's management's problem.

Also, when you're told you have to sacrifice to help keep the company afloat, and then the guy who asks for your sacrifice makes obscene amounts of money, it becomes a classic case of do as I say, not as I do. Ford will be history as an independent company within ten years, if not sooner; they may survive under different owners, but I personally doubt it, and management has only itself to blame.

[analogika]

The Ford ka is actually a pretty cute little car. I doubt they sell it in the states, since it's a compact:

YouTube - Ford Sportska (Cat)

YouTube - Ford Sportska (Bird)

[powerbook867]

They've been rolling out the Fusion of late as an Accord/Camry killer...but the reality of it is that the core underpinnings are a Mazda 6...

Not that the Mazda 6 is a bad car at all. The Fusion is just not really Ford engineered...

[Randman]

Edit: Fords in Australia are pretty good. I actually request a Ford Falcon whenever I'm Down Under and need some wheels.

[Gossamer]

Originally Posted by powerbook867 

The Fusion is just not really Ford engineered...

Which is probably a good choice.

[scottiB]

Originally Posted by ♥ 

Ford pays their CEO $28 million for 4 months.

Meanwhile, they are on the verge of bankruptcy and laying people off.

If I was going to buy a new Ford vehicle, I wouldn't now. May as well feed a family in Japan instead.

You weren't going to buy a Ford if this didn't happen. Don't kid yourself.

To look behind the headline:

• $667k prorated annual salary
• $7.5M signing bonus
• $11M to offset stock options and other compensation he forfeited when he left Boeing
• $920k in Ford stock
• $7.5M in Ford Stock options of which a portion can be cashed in when Ford stock sustains a price point of $15 for 30 days (and at $20, $25, and $30). F hasn't touched $14 in 3 years.source

When you hire a guy who helped turn around Boeing, it costs. Obviously the job wasn't being done by hiring from within. My guess, too, is that it took a little extra to convince him to take the job.

Also, the article states the Chairman Bill Ford received no compensation (other than use of corporate jets, cell phones, etc.).

Oh, as I was going to say: I don't care either. I don't buy their cars, and I'm not aware of any great humanitarian efforts they're involved in, so what they do has no effect on me whatsoever.

The Ford Motor Company Fund: Arts and Humanities

Full disclosure: My father was a 30 year Ford employee (now retired), and my brother took an early buy out after 29 years, effective this fall.

[Jawbone54]

At this point, I simply wouldn't buy an American car. Like Dakar, though, I would really hate for Ford to do itself in. Henry Ford, Motel T, etc.

That said, watching them lay people off while throwing mountains of cash at their CEO is beyond ridiculous.

[osiris]

I don't actually care either. And I don't want another gubment bailout either.

And as for the CEO, screw him. If I was the CEO at a company that was bleeding money, the first thing I would do is cut the execs salaries and eliminate all executive level bonuses until business improves. Make them earn their pay for a change.

[hayesk]

Originally Posted by KarlG 

I'm always amused when I hear the unions being blamed for something. The unions don't make the final management decisions; the board and high level executives do. The unions made demands, and the executives capitulated. If you go to your boss and demand a raise and he gives it to you, and then the company goes belly up, it's his fault for giving it to you, not your fault for asking.

While in this case, I agree it's management fault, but don't pretend unions cannot ruin businesses. Often unions will strike at the drop of a hat, for ridiculously minor things. In some industries, they are there to serve themselves at the expensive of the company, it's customers, and in many cases, its members.

[stevesnj]

Originally Posted by highstakes 

Ford will be the next Chrysler, owned by either Volkswagen or Toyota.

Toyota won't touch Ford, it has a bigger stake with GM at present to even think of Ford. Toyota/GM will be the powerhouse car company in the next 15-20 years.

[Chuckit]

Originally Posted by KarlG 

I'm always amused when I hear the unions being blamed for something. The unions don't make the final management decisions; the board and high level executives do. The unions made demands, and the executives capitulated. If you go to your boss and demand a raise and he gives it to you, and then the company goes belly up, it's his fault for giving it to you, not your fault for asking.

If all unions did was ask, that would be a reasonable comparison. Striking, harassing and strong-arming is a different matter.

[OldManMac]

Originally Posted by Chuckit 

If all unions did was ask, that would be a reasonable comparison. Striking, harassing and strong-arming is a different matter.

That doesn't change the fact that management is supposed to run the company. What's really happened in the American auto industry is that, due to lack of vision at the executive level, management capitulated when workers went on strike, because it was cheaper to settle in the short run. American manufacturers literally laughed when Datsun, et. al., started bringing their small cars in during the late 50s and early 60s. They thought that these cars were toys and junk (which the first ones were), and they dismissed those who bought them as oddballs who were just a minority who wanted to be different. They couldn't see past the end of their noses as sales and qaulity of these cars kept increasing, until they finally brought out their own small cars, the early versions of which were junk, just like the Japanese ones. They also couldn't make money with these small cars (up until almost the end of its lineage, every Chevy Cavalier sold cost GM almost $1000 more to make than they sold it for), and they didn't care that much because they were still making money on larger cars and, most importantly, large trucks. The Japanese didn't have the luxury of making money on large truck sales, so they had to make money with what they offered. GM, Ford, and Chrysler have had their day in the sun, and it is strictly because they couldn't see down the long road that the sun is now setting on them, slowly, but surely, and that's management's fault.

[OldManMac]

Originally Posted by hayesk 

While in this case, I agree it's management fault, but don't pretend unions cannot ruin businesses. Often unions will strike at the drop of a hat, for ridiculously minor things. In some industries, they are there to serve themselves at the expensive of the company, it's customers, and in many cases, its members.

Doesn't matter; it's up to management to assure the long term survival of the company, and when it gives in to unions, it seals the company's fate. At the end of the day, they still have the option of saying one word; no!

[d4nth3m4n]

they can tank for all i care because they're much cooler overseas and suck here.

[Chuckit]

Originally Posted by KarlG 

That doesn't change the fact that management is supposed to run the company. What's really happened in the American auto industry is that, due to lack of vision at the executive level, management capitulated when workers went on strike, because it was cheaper to settle in the short run.

Eh, it's kind of a catch-22. If you capitulate, you wind up getting screwed by your workers. If you don't capitulate, you wind up getting shot by your former workers and they try to badmouth your company out of customers anyway.

[Railroader]

Originally Posted by hayesk 

While in this case, I agree it's management fault, but don't pretend unions cannot ruin businesses. Often unions will strike at the drop of a hat, for ridiculously minor things. In some industries, they are there to serve themselves at the expensive of the company, it's customers, and in many cases, its members.

This is an ignorant statement. When was the last large union strike from the UAW? I'll give you a hint, almost a decade ago. And even that was a relatively small strike compared to the ones 20+ years ago.

The UAW is contractually bound not to strike. There are only a few reasons that the UAW is allowed to strike. Illegal activities, safety violations, and line-speed up are about all the UAW is allowed to strike over.

[smacintush]

I though GM was interested in Chrysler?

[smacintush]

Ask yourself, how much good would that 28 mil do for the workforce? The answer is ZILCH. It is a LOT of money but in the overall picture it is a drop in the bucket. CEO salaries and bonuses make great emotion inducing headlines but the reality is that modern corporations have become extremely large and complex with much more world-wide competition than ever before and it takes lots of money bring in the kind of people who have the ability to turn a company like Ford around.

[smacintush]

Plus, I do care if Ford goes under because although I don't work for them if they do I WILL lose my job, no doubt about it.

[awaspaas]

As an owner of a Mazda 6, I think Ford is on the right track with the Fusion (although it's uglier). It is a solid car that's gotten pretty good reviews. No, Ford can't take credit for the engineering but at least they know where to look for something decent.

[Railroader]

Originally Posted by smacintush 

Plus, I do care if Ford goes under because although I don't work for them if they do I WILL lose my job, no doubt about it.

I think this is a major point that many people who root for a company to fold lose sight of; more people than that company employed will lose their jobs and be greatly affected.

[Chuckit]

Originally Posted by smacintush 

Ask yourself, how much good would that 28 mil do for the workforce? The answer is ZILCH.

Uh, OK. Then give it to this workforce member. I guarantee you I'll enjoy all the good it doesn't do.

[smacintush]

Originally Posted by Chuckit 

Uh, OK. Then give it to this workforce member. I guarantee you I'll enjoy all the good it doesn't do.

Divide the the 28 mil by the TOTAL Ford workforce. Doesn't come out to much does it?

That 28,000,000 would save 560 $50,000 a year jobs for one year. I'm sure those 560 would love to keep their jobs but that's not very many for a company laying off tens of thousands.

That money is well spent if he can turn Ford around.

[houstonmacbro]

Originally Posted by ♥ 

Ford pays their CEO $28 million for 4 months.

Meanwhile, they are on the verge of bankruptcy and laying people off.

If I was going to buy a new Ford vehicle, I wouldn't now. May as well feed a family in Japan instead.

Hey man, I'm with you on this. Ford is close to shutting down and it appears they are still rewarding those at the top of the food chain, while laying off workers, playing hardball with unions, etc.

I could give a flying f*ck if they implode except I know it will hurt many families and workers in the process. Maybe they could find good gigs with Toyota.

[analogika]

Originally Posted by smacintush 

I though GM was interested in Chrysler?

GM has enough problems as it is. I doubt they're in a good position to overhaul Chrysler.

Even Daimler wasn't, and they were doing a lot better when they took over Chrysler than GM is now.

[houstonmacbro]

Yeah, none of the American automakers are doing all that well although GM is probably doing the best out of all of them. Personally, I thought the initial merger or Chrysler and MB was weird, but lately some of the new autos are looking swank.

I mean, they re-launched the 300, launched the Crossfire, etc. And MBs have never looked better.

I wish they'd give it a little more time, but I know shareholders get antsy if the payoffs aren't immediate or apparent.

[analogika]

Originally Posted by houstonmacbro 

Yeah, none of the American automakers are doing all that well although GM is probably doing the best out of all of them. Personally, I thought the initial merger or Chrysler and MB was weird, but lately some of the new autos are looking swank.

I mean, they re-launched the 300, launched the Crossfire, etc. And MBs have never looked better.

I wish they'd give it a little more time, but I know shareholders get antsy if the payoffs aren't immediate or apparent.

It's been beneficial for Chrysler, for sure, but Mercedes is suffering.

[houstonmacbro]

Yeah, not sure the Germans REALLY knew what they were buying.