The next chief executive of Chrysler will be tasked with bringing the company out of bankruptcy, restructuring into a profitable business, repaying government loans (if and when they do so at all), integrating Fiat technology and retaining jobs wherever possible. Oh, and he or she will have to do it all on no more than $500,000 a year. This according to the latest reports, based on new Treasury Department regulations.
General Motors and Ford just concluded an absolutely brutal business day on Wall Street, which echoed the performance of the markets in general as the Dow Jones Industrial Average slid another 678.91 points to close below 9,000 at 8,579.19 points. GM closed the day at 4.94 after having dipped as low as 4.72 just minutes before the bell rang at 4PM, while Ford ended today at just 2.14. Analysts are noting that GM shares haven't been this cheap since the 1950s and that a single share of Ford stock
Alan Mulally went to Ford to kick ass and chew bubblegum, and now he'll be able to afford more Hubba Bubba. It's really a stock option bump -- from $5 to $6 million -- as a reward for taking FoMoCo by its earlobes and attempting to drag it out of the mire it's stuck in. We have seen more focus out of Dearborn as Mulally rallies the troops, and the compensation is recognition that the good fight is being waged. Intent on keeping its four-star general focused, the board has also allowed Mulally's