Ford’s Mulally rewarded heavily for failure

Only in America would a CEO get rewarded for such huge losses that his company had in 2007. Ford Motor Co. today reported that CEO Alan Mulally earned total compensation of $21.7 million 2007, his first full year at the helm of the troubled automaker.

That includes $2 million in base salary and $7 million in incentive bonuses.

Mulally also received more than $11 million in stock and stock-option related awards, and $1.4 million in 'other' compensation. That included $752,203 for personal use of Ford's aircraft, $298,346 in tax reimbursement and $109,000 in temporary housing and relocation costs.

Ford posted a $2.7 billion loss in 2007, an improvement over its $12.6 billion loss in 2006. Revenue for 2007 was $17.2 billion.