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Ford CEO Mark Fields takes home $18.6 million

Sitting atop the throne at Ford Motor Company is, as it turns out, a fairly lucrative gig. We make that statement after learning, through SEC filings, that FoMoCo's Mark Fields raked in $18.6 million in compensation during his first year as CEO. Now, as is so often the case, Fields' earnings weren't just straight salary. Only $1.7 million of that sum was from his salary, while another $3.2 million came from cash bonuses. The remaining $13.7 million, though, came from what The Detroit Free Press called "long-term stock options, performance equity awards and compensation for items such as security and travel," according to the SEC filing. That makes for a significant raise for Fields, who made $10.1 million in 2013, but it still doesn't match his predecessor, former CEO Alan Mulally. The 69-year-old Mulally earned $23.2 million in his final year as CEO, while bringing in $1 million last year as part of a $22 million compensation package. Fields' earnings may ruffle some features for a few reasons. First, while the Freep reports that Ford hit 91 percent of its performance goals, 2014's earnings were down $4 billion, to $3.2 billion, compared to the $7.2 billion the company made in 2013. On top of that, the CEO's take-home might be sour grapes for hourly employees, who were only treated to checks worth $6,900, as part of a profit-sharing plan. To that, Ford said in a statement that, "We remain absolutely committed to aligning executive compensation with the company's business performance and to tying a significant portion of executive compensation to long-term shareholder value." News Source: The Detroit Free PressImage Credit: Paul Sancya / AP Earnings/Financials Ford alan mulally Mark Fields

2015 Ford Mustang 50th Anniversary Edition says 'happy birthday' in New York

Fifty years ago this week, Ford debuted the first-ever Mustang at the New York World's Fair. And to celebrate, the Blue Oval is offering up this special, 50th Anniversary Edition 2015 Mustang, which makes its debut at the New York Auto Show. It'll be a seriously limited affair, with only 1,964 examples of the special edition Mustang slated to be produced (the number chosen to coincide with the 'Stang's first year in production). But for those who raise their hands for the 50th Anniversary package, there's a pretty sweet package in store.
The 50th Anniversary Edition is based on the 2015 Mustang GT with the Performance Pack, and is only available in two colors: Kona Blue, or Wimbledon White (pictured). The car also comes fully loaded - the only option for buyers to choose is the transmission. Should you opt for the six-speed automatic, you'll get a limited-slip rear differential with a 3.55:1 final-drive ratio (the 50th Anniversary car is also the only way to get a slushbox-equipped 'Stang with the Performance Pack). Selecting the six-speed manual 'box will net you a Torsen differential with a 3.73:1 ratio. All 50th Anniversary cars will be powered by Ford's 5.0-liter, naturally aspirated V8, estimated to produce more than 420 horsepower and 390 pound-feet of torque in the 2015 Mustang.
Inside, there's a cashmere-stitched, leather-wrapped steering wheel, with a similar detail found on the instrument panel, shift boot, door inserts, seats, and center armrest. Two-tone leather/black upholstery is also part of the 50th Anniversary package, and of course, there's a special logo on the seats.

Weekly Recap: GM posts solid profits, not looking for partners

General Motors is not looking for partners. It's big enough already. So says CEO Mary Barra, who shot down overtures from outspoken Fiat-Chrysler chief Sergio Marchionne this week. Barra said GM will look to find scale within its operations, rather than through outside partners. "We think there's tremendous opportunity for us within the business as we look at efficiency measures, as we look at truly achieving the scale that we should have, because we're already in that top tier of the auto industry among the largest OEMs," she said. Barra added: "We have a very well-articulated plan. We're in the middle of executing that, and we're not going to entertain anything that might distract us from accomplishing that." Her remarks came in the wake of Marchionne's provocative comments in March. He expects a wave of industry consolidation and said he's open to teaming with Ford or GM, calling it "technically feasible." Because of its smaller size, FCA would likely stand to gain more from a partnership than GM or Ford. The Blue Oval isn't interested in teaming with Fiat-Chrysler, either. "We have no other plan or interest then to continue to accelerate our One Ford plan, deliver product excellence and drive innovation in every part of our business," a spokesperson said. GM, the largest US automaker, announced a $945-million first-quarter profit on Thursday and posted its best earnings performance in North America since 2009. Earlier in the week, GM confirmed it had sold 2.4 million vehicles around the world in the quarter, ranking behind Toyota (2.52 million) and Volkswagen (2.49 million). Other News & Notes SUVs, EVs shine at Shanghai Motor Show SUVs and electric vehicles grabbed the spotlight at the Shanghai Motor Show this week as companies vied for attention in the world's largest car market. Notably, Honda's Concept D previewed the company's future flagship SUV that's being developed for China, Mercedes rolled out a BMW X4-fighting GLC Coupe concept and Chinese company Qoros debuted its 2 plug-in SUV concept. Nissan, Volvo and several others also showcased utility vehicles in Shanghai. Automakers are rushing to take advantage of the crossover craze in China. The market for locally-produced SUVs grew 50 percent in the first quarter, according to IHS Automotive research, which called the show a "launch pad" for new utility vehicles. Even though SUVs are popular, IHS predicts their growth rate will slow, and sedans account for more sales volume in China.