Three years after Obama's restructuring of the US auto industry, top executives at the car companies are raking in huge salaries and bonuses. The payouts underscore who has benefited from the president's much-touted "recovery" of Detroit.
Last week, Ford Motor Co. reported it paid its president and chief executive officer, Alan Mulally, $29.5 million in total compensation last year, up 11 percent from 2010. This included $2 million in salary, $5.46 million in bonuses and $22 million in stock, options and other compensation, according to a regulatory filing by the company last week.
Mulally also received $58.3 million in stock earlier this month as part of an incentive plan for his 2009 performance. Over the last two years alone, the Ford CEO has received stock worth more than $100 million. His compensation in 2011 was the highest since 2006, when Ford paid Mulally $39 million to lure him from aircraft manufacturer Boeing.
keyboard shortcuts: V vote up article J next comment K previous comment