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Buy a Ford (Mustang)
Ford Motor Co. chairman and chief executive Bill Ford said Thursday he will forego all compensation until the company, whose credit rating was downgraded to "junk" last week, is sustaining profitability.
At the company's 50th annual shareholders meeting, Ford told about 50 shareholders that he has asked Ford's compensation committee to tie his pay more directly to the company's automotive performance.
He didn't give a target for that performance, but said the company would have to be doing better than the break-even performance expected this year.
- more
If nothing else, Bill Ford's announcement is a great marketing move and in this age of high CEO salary compensation packages his decision is refreshing. But, is it enough to motivate the purchase of that Mustang convertible I've always wanted?
Posted by tim at May 12, 2005 6:55 AM
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