Ford Mo. Co. Get’s Letters
Freep.com is a terrific resource for opinions and news generated by the free press. This morning they have featured letters in response to Ford giving away bonuses to white collar employees, while still posting a multi-billion dollar loss in profits. Fords possible solution is to cut blue collar employee benefits such as retirement, insurance, and other incentives.
Irresponsible bonuses
Believe me, it is not only UAW members who are rankled by the mere possibility that Ford may offer bonuses to a significant portion of its white-collar workforce; tens of thousands of general salaried workers and retirees are absolutely irate about it also. For a company that just disclosed that it lost a record $12.8 billion last year, is closing 16 or more plants, cutting 30,000 employees, fighting for its very survival, borrowing $25 billion to stay afloat and to "right the ship," eliminating retirees' health care and cutting other retirees' benefits, this would be irresponsible, insensitive and absurd. There could be no possible justification for even one bonus under these circumstances.
Greg Arceri
No profit, no bonus
Stockholders and hourly workers are tired of listening to the lame excuse that executive bonuses are needed to keep good talent at the top of major corporations. If these folks were that good, why did Ford Motor Co. lose $12.7 billion in 2006? If Ford doesn't pay these people bonuses, where are they going to go and make that much money to bring another company down? Did Ford CEO Alan Mulally ever hear of pay for performance?
Perhaps Mulally should be told by stockholders that a new incentive program needs implementation at Ford Motor Co. Let's call it "pay for profit." Ford executives would be required to sign a five-year, no-leave performance contract that would stipulate that they will stick with Ford for a period of no less than five years. Within that time period, Ford would have the option of retaining the person should he or she demonstrate performance traits that benefit the positive growth or rebirth of the company. If, during the five-year term, Ford has an accumulated average net income, these executives would be paid a "performance bonus" based on a stipulated percentage of the profit margin. If the five-year average is a net loss, they get no bonus period.
John M. Leidlein Jr.
I for one hope that Ford never meets it's demise and that the US Government will step in much like it did for Harley Davidson years ago. However, Ford needs to get back on track and show the world why it's Ford tough!
