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Alan Mulally & Bill Ford cash in on Ford's success

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MichiganTruck_Mafia

MichiganTruck_Mafia

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Ford CEO Alan Mulally and Executive Chairman Bill Ford realized after-tax gains of $33.4 million and $25.1 million, respectively, on incentive stock awards, according to a Monday filing with the U.S. Securities and Exchange Commission.

 

Read more: http://www.freep.com/article/20110307/BUSINESS01/110307050/Ford-executives-Alan-Mulally-Bill-Ford-cash-company-s-success?odyssey=tab|topnews|text|FRONTPAGE

 

:reading:

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Pioneer

Pioneer

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$98.9 Million dollars between two people?

 

Hell, at 40k hourly employees, with the $5000 average profit sharing check, the bonuses given to just these two people represent almost half of what Ford is paying out for profit sharing.

 

Excessive. Plain and simple.

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crownvicsparky

crownvicsparky

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First off let me start by saying this.... Alan Mulally has done great work since coming to the helm at Ford Motor Co. He has done and excellent job of turning Ford around and back to profitability. But my problem is this.... I don't care how good of a job he or anyone else has done....NO ONE DESERVES THAT MUCH MONEY !!!

 

Everyone in the Ford motor company had to work hard, together, at the same time to make this success story. EVERYONE DESERVES A PIECE OF THE PIE, but don't be a glutton at the same time.

 

If anyone who gives a crap wants to know what is really wrong with this world and why there are so many problems in it... this greed of money is the biggest one. There are TOO MANY people taking more than they need in this world and that results in a lot of "HAVE NOTS."

 

I have a sweet life and a decent job for a few more months anyway, but if we (society) want to really live in a better world, the f****** corp greed needs to stop.

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1993Stang

1993Stang

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Good for them. hope they keep this ship going in the right direction.

 

Seriously??? How hard was it to get rid of excess with a buyout or education incentives. Give me a break, excessive and overpaid, period. Givebacks from the hourly so they could have more. What a complete joke!! The stock went up and that was the only thing good about it. The stock is now stagnate as are the wages. If gas continues to rise, the auto companies will be in a crappy position again. It won't be as bad as the first time because only 40K hourly remain on the rolls. From a business side, yes Allan did a great job for the business, but still on the backs of the hard working men and woman at the plants. I'm sorry but IMHO, I believe that the workers gave up way more in concessions so they could be sitting pretty in their nice offices, that is a complete shame. It is now the unions job, the only job, to recoup some of the concessions that were taken away, period, end of story. Restore COLA, holiday, OT over 8 hours, performance bonus, signing bonus, xmas bonus, stagnate wages, and fix the profit sharing formula to favor those who work their #SS off. Don't give me this, I'm whining crap either, 96 million is a lot of dough shared between two people!! Bob King, restore what was lost and stop letting them feed you the B.S., like the company still has a long way to go, we have to remain competitive, we still owe a lot of money, blah blah blah. Yes, we have to remain competitive with Toyota, and that CEO and guess what he Never received a bonus that big NEVER! Sorry but Management wages need to be competitive now, period.

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skeptic

skeptic

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Posted

Seriously??? How hard was it to get rid of excess with a buyout or education incentives. Give me a break, excessive and overpaid, period. Givebacks from the hourly so they could have more. What a complete joke!! The stock went up and that was the only thing good about it. The stock is now stagnate as are the wages. If gas continues to rise, the auto companies will be in a crappy position again. It won't be as bad as the first time because only 40K hourly remain on the rolls. From a business side, yes Allan did a great job for the business, but still on the backs of the hard working men and woman at the plants. I'm sorry but IMHO, I believe that the workers gave up way more in concessions so they could be sitting pretty in their nice offices, that is a complete shame. It is now the unions job, the only job, to recoup some of the concessions that were taken away, period, end of story. Restore COLA, holiday, OT over 8 hours, performance bonus, signing bonus, xmas bonus, stagnate wages, and fix the profit sharing formula to favor those who work their #SS off. Don't give me this, I'm whining crap either, 96 million is a lot of dough shared between two people!! Bob King, restore what was lost and stop letting them feed you the B.S., like the company still has a long way to go, we have to remain competitive, we still owe a lot of money, blah blah blah. Yes, we have to remain competitive with Toyota, and that CEO and guess what he Never received a bonus that big NEVER! Sorry but Management wages need to be competitive now, period.

How can these 2 live on so little?I bet the UAW and Ford Motor Company gave them more than they were entitled too just like they did with our profit share.

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cal50

cal50

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Posted

$98.9 Million dollars between two people?

 

Hell, at 40k hourly employees, with the $5000 average profit sharing check, the bonuses given to just these two people represent almost half of what Ford is paying out for profit sharing.

 

Excessive. Plain and simple.

 

 

Exactly.

I do expect them to be rewarded well but that amount is insane.

Life is good at the top.

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sanduskyman

sanduskyman

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Posted (edited)

Every CEO in this country makes 500 times more then the average worker.

 

Are you telling me Allan and Bill Ford Jr. Need or deserve a 90 million dollar bonus check along with share options? f**k no!.

 

If these people wanna turn the company around they would take one-dollar and no stock options, and give the profits they would be getting to the work force for once!.

 

If they did that can you imagine such positive press they could get from this!, what are they thinking???

 

Then they could claim we are a real family!

 

 

 

I hope these fuc*s at the top choke on their 90 million dollar profit cash and die.

 

Us workers are working to hard and were not getting a piece of that american dream!.

 

Don't you watch Glenn Beck people? this world is coming to an end, and it's going to be filled with protest in the streets just like your seeing now in Libya.

 

CEO's should get anything more then 1-3 million a year..

 

If they wanna make a new law, they need to put caps on what CEO's make in the private sector. And if they take anything more they get heavily taxed for it.

Edited by sanduskyman
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Die Wahrheit

Die Wahrheit

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Posted

Every CEO in this country makes 500 times more then the average worker.

 

Are you telling me Allan and Bill Ford Jr. Need or deserve a 90 million dollar bonus check along with share options? f**k no!.

 

If these people wanna turn the company around they would take one-dollar and no stock options, and give the profits they would be getting to the work force for once!.

 

If they did that can you imagine such positive press they could get from this!, what are they thinking???

 

Then they could claim we are a real family!

 

 

 

I hope these fuc*s at the top choke on their 90 million dollar profit cash and die.

 

Us workers are working to hard and were not getting a piece of that american dream!.

 

Don't you watch Glenn Beck people? this world is coming to an end, and it's going to be filled with protest in the streets just like your seeing now in Libya.

 

CEO's should get anything more then 1-3 million a year..

 

If they wanna make a new law, they need to put caps on what CEO's make in the private sector. And if they take anything more they get heavily taxed for it.

 

 

You can thank the republicants! They still think auto workers make too much money. They want to bust up the union so they can pay these CEO's more money.

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on layoff

on layoff

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Posted

yes it's funny how they want our pay in line with the transplant companies yet they (Alan & Bill ) will have no part in having their pay in line with the CEO's of the transplant companies.

that's what I've been thinking. couldn't be anymore dead on..

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Cocheese

Cocheese

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Posted

Every CEO in this country makes 500 times more then the average worker.

 

*Most* CEO's are 500 times smarter, more educated, and more experienced then the average worker.

 

You make 5 times what the lady who serves you coffee in the morning does. How is that fair?

 

Instead of complaining how much private sector employees earn, maybe you should better yourself so that you can earn more money

 

Are you telling me Allan and Bill Ford Jr. Need or deserve a 90 million dollar bonus check along with share options? f**k no!.

 

Please tell me why you think they don't. I'll give you a pass on Junior, since I don't think he deserves it. But tell me why you think Mulally doesn't deserve his pay.

 

Mulally negotiated his pay when Ford wanted to hire him. Why is it it's OK when the union bargains to get what they want, but bad when an extremely intelligent individual does the same?

 

If these people wanna turn the company around they would take one-dollar and no stock options, and give the profits they would be getting to the work force for once!.

 

If they did that can you imagine such positive press they could get from this!, what are they thinking???

 

Then they could claim we are a real family!

 

Again, why is it you want to be paid more money, but expect Mulally to earn nothing?

 

How would you feel if you were told you were only going to make one dollar a year?

 

I hope these fuc*s at the top choke on their 90 million dollar profit cash and die.

 

How would you feel if he a CEO said that to you?

 

Us workers are working to hard and were not getting a piece of that american dream!.

 

Move to China then and see what the alternative is.

 

Stop your whining. You make great money, especially for what skill set is required.

 

How many cars do you own? How many TV's? How many computers? How many vacations do you go on each year?

 

Seems like you are getting a pretty good piece of the American dream yourself.

 

Oh, and if you don't like the size of the slice, go get a better job. No one has forced you to work at Ford.

 

CEO's should get anything more then 1-3 million a year..

 

And some say unskilled autoworkers only deserve minimum wage.

 

If they wanna make a new law, they need to put caps on what CEO's make in the private sector. And if they take anything more they get heavily taxed for it.

 

Why should the Government make a law about what private industry pays their workers (remember, some might say that autoworkers should be limited in what they make)?

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mikem12

mikem12

Posted
Posted

First off let me start by saying this.... Alan Mulally has done great work since coming to the helm at Ford Motor Co. He has done and excellent job of turning Ford around and back to profitability. But my problem is this.... I don't care how good of a job he or anyone else has done....NO ONE DESERVES THAT MUCH MONEY !!!

 

 

 

 

now this is funny, when I hired in to Ford in 79 I told my Dad what I would be making. he looked at me and said no one man should make $11 an hour. I just smiled and walked away knowing I wasn't wasn't going to argue with the company since it was almost double what I was making at another shop.

 

The fact is when I finish my day I can go home. I don't have to worry about my job or the company until tomorrow and then I only have to be concerned about "my" job. Mullaly's job is to direct an entire company, which includes it's emplyees. He was put there to turn Ford around after the complete abortion that Nasser left him with and William Clay realized he wasn't up to the job and welcomed Mulaly. It took a ton of pressure off him, saved his families name, and it has shown to be a wise decision.

 

I am proud Ford didn't have to go to DC with hat in hand begging for deliverance from bankruptcy like GM and Chrysler. Ford, all of us, can hold our heads high in that we rescued this company from that certain demise. My kids who also work here now have some security in that they still have a job and a damn good paying job at that.

 

So Mr. Mullay and Bill Ford got 40 mil. well Brother they are welcome to it. Because quite frankly if they would have failed in turning Ford around none of us would be here working today.

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mikem12

mikem12

Posted
Posted

This compensation was set up in 2008 based on the stock price which was around $1.50. Basically he got 3.9M shares. In 2008 those were only worth about $6M. Today they're worth $56M. It's all about the stock market and stock investments and is NOT about a regular bonus.

 

Perhaps we should reduce Mulally's stock award by 75% but if we do that then we should go into every employees 401K and stock plan and take 75% of that away, too, because everyone who bought Ford stock in 2008 and 2009 saw the exact same benefit.

 

 

I hope we don't I bought back in at 2.72. I a just now back even.

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mikem12

mikem12

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I am not sure that the argument hasn't degraded into the farthest ends of the spectrum instead of a common middle ground from which we can discuss what is a healthy reward and what is excessive.

 

I have no problem with Bill Ford, Alan Mulally making serious change for the turnaround. There factors that i would like to address about the amount, the expectations on us, and the timing.

 

1. While there is no set amount that says this is okay and this is obscene, i think that 50 million in options is a bit much at this moment. I realize that he lost money coming here and that his ultimate goal is like us to achieve some measure of wealth through our job choices. Not bashing him for that.

 

2. I think the example of the options while still expecting for us to accept concessions is another attack on the creators of his current wealth. He does not create his own wealth, nor do we, but together we create it for the company. His decisions while instrumental in driving the company in the right direction are incredibly important, the decisions of the thousands of line workers daily are equally important when you examine the collective effect on our product.

 

3. I don't believe that the timing was correct for the options. While we are profitable at the moment, the future of our economy looks dim with the middle east affecting our oil prices. Despite the last 40 years of oils ups and downs we haven't yet weaned ourselves off of it, and most likely never. That leads are success and failure partially in the hands of a cyclic economy driven by oil.

 

While this will bring up discusions of oil drilling, what i am most upset about is the lack of forethought on the part of our legislature on brazilian cane ethanol. Had we not patronized the farming bloc, we would have been able to keep corn and meat prices lower with less use of corn for ethanol and increased our ethanol use to offest oil prices in the short term. but back to subject.

 

I don't see that the company has really turned the corner yet. and i don't think that they think so either. I feel that this was a typical example of using the small upswing for profit taking or wealth gathering depending on your views knowing that they have hard times ahead.

 

 

I don't disagree with much of what you have said. What is excessive or obscene is a matter of perception or of ones only reality. yup he got 100 times what most of us got. If you or I fail we just have only us to be concerned about if he failed there would be 100K plus people out of work, I 'd say our responsibilities are a little different. Think of it this way someone who is scrimping by on minimum wages thinks what we got is excessive and obscene.

 

 

I also agree we should not be subsidizing the ethenol program it has not made money since it started and has only succeeded in causing food prices to sky rocket. We also (gov.) don't see the need to utilize our own resources, oil, coal, NG. Rather we are pursuing solar and wind power generation neither of which will make a big difference in our national usage demands. We have more NG in this country than all of the middle east combined but we refused to use it. Why?? Simple look to companies like GE AIG etc who have large stakes in the green techs that are being pushed now. Remember this president said our costs for fuel "will" necessarily increase to a much higher level. Even some of the dems are screaming about releasing the restrictions being placed on these resources. This admin as previous admins have lots of money tied up in energy and they will make sure they don't lose any mone.

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pmooret

pmooret

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Posted

Mulally may have negotiated his contract when Ford hired him but that's been a while back and his contrat no longer reflects the changing economic times. Bill Ford needs to open his contract (we know that can be done) and take back some of his pay (we know that can be done too) to keep the company more competitive (COA). Ford needs to heed their own advice and since Mulally is a Ford employee he needs to have give backs just like everyone else (equity or sacrafice).

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Cocheese

Cocheese

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Posted

I am not sure that the argument hasn't degraded into the farthest ends of the spectrum instead of a common middle ground from which we can discuss what is a healthy reward and what is excessive.

 

I have no problem with Bill Ford, Alan Mulally making serious change for the turnaround. There factors that i would like to address about the amount, the expectations on us, and the timing.

 

1. While there is no set amount that says this is okay and this is obscene, i think that 50 million in options is a bit much at this moment. I realize that he lost money coming here and that his ultimate goal is like us to achieve some measure of wealth through our job choices. Not bashing him for that.

 

2. I think the example of the options while still expecting for us to accept concessions is another attack on the creators of his current wealth. He does not create his own wealth, nor do we, but together we create it for the company. His decisions while instrumental in driving the company in the right direction are incredibly important, the decisions of the thousands of line workers daily are equally important when you examine the collective effect on our product.

 

3. I don't believe that the timing was correct for the options. While we are profitable at the moment, the future of our economy looks dim with the middle east affecting our oil prices. Despite the last 40 years of oils ups and downs we haven't yet weaned ourselves off of it, and most likely never. That leads are success and failure partially in the hands of a cyclic economy driven by oil.

 

While this will bring up discusions of oil drilling, what i am most upset about is the lack of forethought on the part of our legislature on brazilian cane ethanol. Had we not patronized the farming bloc, we would have been able to keep corn and meat prices lower with less use of corn for ethanol and increased our ethanol use to offest oil prices in the short term. but back to subject.

 

I don't see that the company has really turned the corner yet. and i don't think that they think so either. I feel that this was a typical example of using the small upswing for profit taking or wealth gathering depending on your views knowing that they have hard times ahead.

 

 

-3 rating with no rebuttals for me.

 

Sorry ljcdad, looks like your side is out to prove you wrong

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Marginal Economist

Marginal Economist

Posted
Posted

I am not sure that the argument hasn't degraded into the farthest ends of the spectrum instead of a common middle ground from which we can discuss what is a healthy reward and what is excessive.

 

I have no problem with Bill Ford, Alan Mulally making serious change for the turnaround. There factors that i would like to address about the amount, the expectations on us, and the timing.

 

1. While there is no set amount that says this is okay and this is obscene, i think that 50 million in options is a bit much at this moment. I realize that he lost money coming here and that his ultimate goal is like us to achieve some measure of wealth through our job choices. Not bashing him for that.

 

2. I think the example of the options while still expecting for us to accept concessions is another attack on the creators of his current wealth. He does not create his own wealth, nor do we, but together we create it for the company. His decisions while instrumental in driving the company in the right direction are incredibly important, the decisions of the thousands of line workers daily are equally important when you examine the collective effect on our product.

 

3. I don't believe that the timing was correct for the options. While we are profitable at the moment, the future of our economy looks dim with the middle east affecting our oil prices. Despite the last 40 years of oils ups and downs we haven't yet weaned ourselves off of it, and most likely never. That leads are success and failure partially in the hands of a cyclic economy driven by oil.

 

While this will bring up discusions of oil drilling, what i am most upset about is the lack of forethought on the part of our legislature on brazilian cane ethanol. Had we not patronized the farming bloc, we would have been able to keep corn and meat prices lower with less use of corn for ethanol and increased our ethanol use to offest oil prices in the short term. but back to subject.

 

I don't see that the company has really turned the corner yet. and i don't think that they think so either. I feel that this was a typical example of using the small upswing for profit taking or wealth gathering depending on your views knowing that they have hard times ahead.

 

To address your numerated points -

1. The amount of the awards were dependant on the stock price at the strike date. When awarded in 2008, it was a coin flip that Ford would remain out of BK. If the strike price had been 2 weeks earlier, they would have made another $20Mil.

 

2. Mullaly did take a pay cut in 2009 or 2010 - I can not recall which. Stock options tied his success to the companies.

 

3. Again - the timing was set in 2008. He also has more shares that will come due in 2013. Hopefully we'll be trading at $40 share and there will be more complaints on how much money he made.

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