Story: " Ford Motor Co. may resume paying executive bonuses to boost the morale of managers battered by three rounds of job cuts and plant closings in the past five years, people familiar with the matter said.
The No. 2 U.S. automaker is considering the renewal of bonuses as a way of supporting managers coping with reduced benefits, the elimination of merit raises and the threat of job losses, said the people, who didn't want to be identified because the discussions are private.
Ford paid no bonuses to its top 6,000 executives during the last two years. Ford's net income shrank to $1.44 billion for 2005. Ford said today it lost $5.8 billion in the fourth quarter and $12.7 billion for 2006, the biggest annual loss ever. The company is cutting 40,000 factory and white-collar jobs in hopes of restoring North American auto profits in 2009. "
Bonuses for the executives of a falling company? Look at Ford, a one time Titan of the auto industry, who has now fallen to the lowest point in this companies history. $13 billion in losses!
And the proper response to this? Give Bonuses to the leadership responsible?
Its companies like this that make it so hard to defend the CEOs who deserve their bonuses.
In other news, American Airlines turned its first profit since 2000, a victory of unbelievable magnitute, considering the airline industry and its difficulties with such things.
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4 comments:
I've already emailed the president of Ford. I told him that I will no longer buy any Ford product until they stop supporting the radical homosexual agenda. AFA has been boycotting them for more than a year. I normally don't participate in boycotts, but this is principle. (I have a 2002 Ford Ranger)
As to the bonus, talk about Nero fidding while Rome burned!
ford could do even better:
eliminate the entire blue-collar workforce,saving money, and give the managers even bigger raises to boost moral further.
this should turn the company around right quick,eh?
DO realize the mindset of the people making the decisions.
If you could give yourself a raise,
Wouldn't you?
I would.
On that note...
How many times has Congress given themselves a raise,
And how many times have they given the military a raise?
Sola, glad your taking a stand.
Gino, I believe that is an excellent idea. They could just turn themselves into a financing company... :D
Jason, Good point.
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