Cars and Drivers
The Cheapest $26 Million Ford Ever Spent, As Its Stock Beats Apple's
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Ford Motor (NYSE: F) CEO Alan Mulally made $26,520,515 in 2010, according to the company’s proxy. It is the cheapest $26 million the firm ever spent.
Ford was at death’s door a year after he joined that manufacturer in September 2006. Mullaly bet the company on loans which totaled $23 billion. The money was enough to see Ford through the recession and out-of-the-way of the Chapter 11 filings by GM (NYSE: GM) and Chrysler.
Ford passed GM in monthly sales in March. GM, the regular leader in domestic sales, units were up less than 10% last month to 206,621. Ford’s rose 19% to 212,295. Ford’s light truck sales were unusually strong, the primary reason it gained a lead over its rival.
Ford’s stock fell below $1.50 in November 2008. It closed this week at $15. To put a point on the strength of the shares, Ford’s are up nearly 500% in the last two years while Apple’s are 225% higher.
Douglas A. McIntyre
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