Saturday, September 09, 2006

"Financially Troubled" Ford Pays New CEO $20.5 Million

Nothing says more about the nature of things than what's going on at Ford Motor Company these days. New corporate CEO, Allan Mutally, a former Boeing executive is being paid a base salary of $2 million, and an additional $18.5 million in other benefits for coming over to Ford.

United Auto Workers Union President, Ron Gettelfinger has praised Ford huring Mutally, while Ford intends to cut 30,000 jobs and close 14 plants by 2012, and seek expanded buyout for unionized workers, cutting the number of overall UAW members.

The more things change, the more they stay the same.


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