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Fields 'required' to use private aircraft, could make $5.25M as Ford CEO this year

Mark Fields' travels on the friendly skies will soon be a relatively personal affair, as the new CEO at Ford will be required to resume air travel via the company's private planes. Fields caught plenty of flak in 2007 for flying on the company's dime to visit his family in Florida. He's since flown commercial.
According to Ford spokesperson Susan Krusel, who spoke to Bloomberg, Fields (pictured above right, with Bill Ford, Jr. at center and Alan Mulally at left) will switch to private travel "for safety and to maximize his availability for company business." In addition to his new travel arrangements, the 53-year-old exec's salary and bonuses have been revealed.
Regulatory filings by Ford revealed that Fields, whose first day in the big chair was July 1, will receive a base salary this year of $1.25 million and he'll be eligible for $3.5 million in bonuses, both of which are lower than Alan Mulally's $2 million salary and $5.88 million in bonuses received last year. That's also lower than General Motors CEO Mary Barra's alleged $1.6-million salary and considerably less than Sergio Marchionne's $3.19-million fixed salary from Fiat. Despite falling short of other CEOs, Fields' new pay still represents a 33-percent increase over his pay as Chief Operating Officer.

Translogic 174: Ford envisions the future of parking

Translogic visits Georgia Tech for a glimpse at the future of parking. First, we demo the Ford remote parking program by driving a golf cart around campus from the comfort of an off-site lab; think of remote parking as a virtual valet. Then we see how Ford's "parking spotter" works, a crowd-sourced way of finding an open space. Along the way, Translogic host Jonathon Buckley chats with Ford's global director of vehicle electrification and infrastructure, who explains how these innovative parking concepts could help us get around more efficiently. Have an RSS feed? Click here to add Translogic. Follow Translogic on Twitter and Facebook. Click here to learn more about our host, Jonathon Buckley. VIDEO TRANSCRIPT Jonathon: You turn the wheel and the cart turns the wheel because we've got to remember that the carts 150 meters down that way. I should use yards because I'm not in Australia any more. Welcome to Translogic. I'm Jonathon Buckley. Every year in this country we spend over 70 million hours looking for parking. We think that's a pretty miserable way to spend that time but Ford Motor Company and Georgia Tech have taken this problem head on by developing a parking spotter experiment and some pretty cool remote driving functions to go with it. When it comes to remote vehicle repositioning, you guys have been so far using golf carts?Mike: That's right.Jonathon: What's the goal with this type of technology?Mike: As you probably know, car sharing is becoming one of the emerging trends in mobility. With that, any type of sharing program that we looked at around the world, one of the common challenges it has is that during the end of the day, or the nighttime hours, there's something that has to happen to get all the assets back to where they need to be for the next day. Cell phone technology and broadband technologies have advanced so far that we can remotely control a vehicle from anywhere it the world. For example, we could actually take this and create a virtual valet. You and your significant other pull up to, say, a restaurant. You could potentially get out of the vehicle and then the call center could take your vehicle and park it for you. You wouldn't need to do anything [00:02:00] else other than arrive at the restaurant.Jonathon: The whole thing's pretty intuitive. It works exactly as you imagine a golf cart would work. The only difference that there really is is there's just a little bit of latency that you have to account for.

Ford reports $3B profit in Q4, $6.9B for the year

Good news out of Dearborn today, as Ford announced $3 billion in profit for the last quarter of 2013, a 90-percent increase over the same period of 2012. Net income for all of last year, meanwhile, jumped to $7.2 billion from $5.7 billion in 2012, while pre-tax profits sat at a decade-topping $6.9 billion for all of 2013.
The results of the substantial profit increases are bigger profit-sharing checks for UAW employees. How big? A record $8,800 on average for 47,000 UAW workers, making 2013 the biggest year for profit sharing in Ford history. In total, $414 million will be paid as part of the profit-sharing scheme.
Now, it should be pointed out that a fair portion of Ford's Q4 profits were due to tax benefits, totaling $2.1 billion, according to Automotive News. Total profits would have also been higher, had there not been a significant recall on the Escape, as well as plant issues in South America.