Ford CEO Offers to Work $1 Per Year for Loan

Getty

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.

Related Topics: News

Post a Comment

You must be logged in to post a comment.

  • Tweets

    View More Tweets From @TIME

Your browser, Internet Explorer 8 or below, is out of date. It has known security flaws and may not display all features of this and other websites.

Learn how to update your browser