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SUNDAY, NOVEMBER 8, 2009
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8

Ford Doesn't Want to Cut CEO's Pay

Mulally rebuffed $1 salary suggestion, 'OK' making $2M

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(Newser) – Though it’s under pressure to trim costs and update its business plan in order to get federal bailout funds, Ford doesn’t like the idea of cutting its CEO’s salary, the Wall Street Journal reports. Alan Mulally made a $2 million salary and $21 million in total compensation last year; asked in testimony last week on Capitol Hill if he’d accept a $1 salary, he replied, “I think I’m OK where I am.”

During his Nov. 19 testimony on Capitol Hill, Ford CEO Alan Mulally said he was
During his Nov. 19 testimony on Capitol Hill, Ford CEO Alan Mulally said he was "OK where I am" when asked if he would accept a salary of $1.   (AP Photo)
Ford CEO Alan Mulally arrives to testify on Capitol Hill on Nov. 19, 2008, in a new Ford Fusion Hybrid.
Ford CEO Alan Mulally arrives to testify on Capitol Hill on Nov. 19, 2008, in a new Ford Fusion Hybrid.   (AP Photo)
Ford Motor Co. chairman Bill Ford, left, and Alan Mulally, president and CEO, are seen at the Dearborn Truck Assembly in Dearborn, Mich., Oct. 30, 2008.
Ford Motor Co. chairman Bill Ford, left, and Alan Mulally, president and CEO, are seen at the Dearborn Truck Assembly in Dearborn, Mich., Oct. 30, 2008.   (AP Photo)
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8 comments
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Will
Nov 27, 08 9:03 PM CST
Let the greedy bastards HANG! Reply
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PaleRider
Nov 27, 08 10:20 PM CST
Well, this is why they are going under, they have the arrogance to believe that they are "entitled" to be bailed out. This company has been so out of touch for so long, I wouldn't be unhappy to see them go out of business all together. Reply
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petepenguin
Nov 27, 08 11:14 PM CST
Well,tax payers are not okay with where he is and if he wants some money for his company,he better sing another tune. Reply
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iamthereama
Nov 27, 08 11:28 PM CST
I say accept the $1 salary for a year - it would build a LOT of goodwill. Otherwise, you look like a jerk that doesn't care about the fate of blue collar workers that helped build your company. Your $21 million salary would pay a lot of their salaries/pensions. Reply
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Newser001
Nov 28, 08 1:03 AM CST
No bailout. Reply
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