Tuesday, December 2, 2008

For Just $1 a Year

Okay, seriously, how overpaid are you if you can afford to take a paycut down to $1 a year? Is Alan Mulally pandering to Congress trying to show he's serious, or what?

So Ford's CEO has offered up his salary, plus no bonuses or merit raises and the tantalizing promise of electric cars in his bid for government money. BUT, "Mulally says Ford has said it has enough cash to make it through 2009 and may not need government help." Not to mention he'll only take the $1 salary "if Ford has to take government money."

Um, wait. Am I still drunk on cough medicine? He's saying he'll only make this grand gesture if he has to take taxpayer money? So he's sitting there in Detroit drawing full salary until reserves run out? Why not start now? Save the company and the government some money, Alan!

But hey, at least they've learned their lesson regarding travel by private jet!

A General Motors spokesman said Wagoner will travel to Washington later this
week by car instead of flying a commercial airline or corporate jet.

Spokesman Tony Cervone said Wagoner will drive in a Chevrolet Malibu
hybrid sedan when he makes the 520-mile trek from Detroit to Capitol Hill.

Ford Motor Co. CEO Alan Mulally also is driving. Chrysler LLC CEO Robert
Nardelli will not travel by corporate jet. A spokeswoman says his travel plans
will remain secret for security reasons.

I pulled all my quotes from MSN's article here: Ford CEO offers to work for $1 a year


  1. I want to know how many millions they will get when their company shows an upward swing. I'm sure that these CEO's are making sure that there is something written into their agreement with the government that they will reap millions for any kind of gain. I still think they should all be fired and give the middle management and employees raises when they show some profitability.

  2. I had considered writing about this. However, you put it better than I could have. Had Congress not called them out on their crap on the last round, I bet they'd still fly their private jets.