Mulally Re-Thinks His Position During Flight Home on Private Jet

After flying home in his corporate jet after begging Congress for $25 billion in taxpayer guaranteed bailouts, Ford CEO Alan Mulally apparently had a change of heart regarding his salary. After making $27 million in 2007, a year in which Ford lost $2.72 billion, Mulally originally declined to consider working for $1 in annual salary, a whopping $2 million pay cut, in exchange for the taxpayer funded guarantees. Now, according to WSJ, he's had a change of heart and agreed to take a little cut. And, FLASH, he now has a bold plan to restructure to profitability.

Carl says, "DON'T BE DUMB, FORD. START THE AGGRESSIVE RESTRUCTURING AT THE TOP. GET RID OF MULALLY AND THE OTHER FINANCE GURUS WHO'VE DRIVEN FORD OVER THE CLIFF. HIRE THE MANAGERS FROM NINTENDO. THEY'LL WORK FOR LESS, BE MORE EFFICIENT AND BUILD CARS THAT PEOPLE WANT BECAUSE THEY'RE FUN TO DRIVE."

Hey, Mullaly, YOU ARE NOT OK!

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. "