Ford CEO Alan Mulally to Congress in response to questions about whether he'd cut his $2 million salary to $1, said: "I think I'm ok where I am." Mullaly's total compensation in 2007 was $21.67 million, according to Securities and Exchange Commission filings. In the same year, Ford posted a loss of $2.72 billion.
Carl says, "HEY, MULALLY, DON'T BE DUMB. YOU'RE ON YOUR KNEES BEGGING FOR $25 BILLION IN TAXPAYER GUARANTEED LOANS BECAUSE YOU HAVE RIDDEN YOUR GRAVY TRAIN ALL THE WAY TO THE GROUND. THAT THUD BEHIND YOU IS THE COMPANY YOU AND YOUR PREDECESSORS DESTROYED. YOUR FAILURE TO CREATE, ADAPT OR THINK STRATEGICALLY IS NUMBING. THE SHARE HOLDERS OUGHT TO GET THEIR MONEY BACK FROM YOU. THE CEO AND ENTIRE BOARD AT HONDA MAKE LESS THAN YOU DID LAST YEAR. AND GUESS WHAT? THEY MAKE MONEY, INNOVATE AND BUILD BETTER CARS. I'LL GIVE YOU A GUARANTEE MULALLY: YOU ARE NOT OK WHERE YOU ARE. "
Tuesday, December 2, 2008
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