Eugene David ...The One-Minute Pundit |
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Thursday, May 11, 2006
The SACRIFICES of CEOs:
Bill Ford announced at last year's annual meeting that he wouldn't take a salary or bonus until the company's automotive operations returned to profitability. Ford's automotive operations lost more than $2.5 billion in the first quarter of this year. Bill Ford's total compensation in 2005 was $13.3 million, 40 percent less than in 2004. While he took no salary or bonus, he did receive stock equivalents that were agreed to before he made his pledge. How many ordinary employees could those "stock equivalents" pay for?
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