Give the Man Credit

by

fuelfed bill ford

It’s very refreshing to see a CEO committed to making his company successful and not looking for bailouts or focused on only profit margins for bitching shareholders. Makes me kinda like Ford.

Bill Ford made the sacrifice, now he’s earned the reward. After living sans salary from Ford for five years, Bill is due to receive $4 million in cash and up to $12 million in stock options. Ford made his pledge before the downturn and couldn’t have known he’d go five years before “sustainable profitability” was achieved, so the compensation committee backdated his pay to January 1, 2008.

“Sacrifice,” in this case, might be a relative term, but still, we give the man full credit for stepping aside and waiting until real money was coming in. Some of his earnings will go toward repaying loans he took out to buy Ford stock when the chips were down, and another million is going to set up a college scholarship for the children of Ford workers.

Source: Detroit News
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