Ford CEO Takes Paycut; Now That’s Leadership!

December 2, 2008.

Article from CNN Money: Ford unviels turnaround plan

Nothing gives me more confidence than seeing auto industry top execs taking big paycuts. Can you cut through the sarcasm yet? In the case of Alan Mulally, and apparently other big American auto companies, he will work for $1 a year…

“The company announced that the salary of Ford CEO Alan Mulally would be cut to $1 a year if Ford (F, Fortune 500) actually borrowed money from the government. When Mulally appeared before the House Financial Services Committee last month, he did not agree to the suggestion of such a paycut.”

Apparently, the big three are dumping the corporate jets too…

“Ford also announced that it would sell its five corporate jets. Mulally, Wagoner and Nardelli were roundly criticized for flying their own corporate jets to Washington to ask for help last month.”

Now for me, I couldn’t care less about the corporate jets. I mean really, they aren’t the only big company execs who use corporate jets to get around. The problem is, they represent an industry which is now veiwed as a pariah. And let’s face it, American auto companies are a pariah. How come the Japanese are able to adapt? Because they have good leaders who were able to understand what the future held.

It is quite possible American auto execs knew what the future held, too. However, they are so tightly bound to the oil industry and this connection which generates gobs and gobs of money in the short term, they lost sight of what is not only important to the consumer, but what is important for our environment as well. Oh, let’s not forget their employees. Glad I didn’t.

Auto industry execs have not represented leadership. they have represented greed.

Taking a pay cut is a gimmick, just like drilling for offshore oil.

Keeping these idiots at the helm of these companies is a travesty.

The only ones who will suffer are the blue collar workers who will lose their job and their retirement. Do you think by taking a pay cut this will adversely effect the lives of these top execs? Dont’ kid yourself.