Ford CEO Offers to Work $1 Per Year for Loan


Alan Mulally says he’ll tell Congress he plans to return to a pretax profit or break even in 2011 when he testifies this week.

Says he’ll cut his own pay, cancel all management employees’ 2009 bonuses, sell Ford’s five corporate aircraft, among other things.

Comes as the Big Three propose their restructuring plans to Congress Tuesday in exchange for a $25 billion bailout.

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