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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

GM, Ford, Chrysler halt some Michigan operations over natural gas shortage

WASHINGTON - General Motors said late on Wednesday it will temporarily suspend operations at 11 Michigan plants and its Warren Tech Center after a utility made an emergency appeal to users to conserve natural gas during extreme winter cold. Fiat Chrysler Automobiles also said it had canceled a shift on Thursday at both its Warren Truck and Sterling Heights Assembly plants and was considering whether it would need to cancel additional shifts. GM said it had been asked by Consumers Energy, a unit of CMS Energy Corp, to suspend operations to allow the utility to manage supply issues after extreme cold temperatures and a fire at a compressor station. It said workers were told not to report for the shifts at its Orion Assembly, Flint Assembly, Lansing Delta Township Assembly and Lansing Grand River Assembly plants, as well as other stamping and transmission plants on Wednesday evening and early Thursday. GM said it was still assessing when employees could return to work. Workers at its Warren Tech Center were also told to stay home on Thursday. In a video message posted on Facebook, CMS Energy Chief Executive Patricia Poppe said large companies, including Fiat Chrysler, Ford Motor Co and GM, had agreed to "interrupt" production schedules through Friday to tackle the issue prompted by a fire at a Michigan facility and the record-breaking cold. Poppe said the usage cuts by large businesses were not enough, and urged 1.8 million Michigan customers to turn down thermostats as much as they could to cut natural gas use in order to protect critical facilities like hospitals and nursing homes. "I need you to take action right now," she said. Ford said it had also taken steps to reduce energy use at its four Michigan plants supplied by Consumers Energy, but added the situation remained fluid. A spokeswoman said it had reduced heating levels at Livonia Transmission and Van Dyke Transmission, stopped heat treatment processes at Sterling Axle and shut down the paint process at Michigan Assembly. Consumers Energy sent an alert to mobile phones in Michigan asking residents to reduce natural gas use.

Entry-level F-150 now offers SuperCrew, Sport Package

Ford has made a few notable tweaks to the lower end of its F-150 lineup, giving customers a more affordable version of the four-door SuperCrew body style. The popular SuperCrew could previously only be had on XLT models and above, but Ford has announced that 2014 F-150s with the base STX trim can get the more versatile body.
The STX SuperCrew brings the price of a four-door F-150 down from $34,525 to $33,145. Like the XLT SuperCrew, the STX will be available with the choice of a 5.5- or 6.5-foot bed, while a 5.0-liter V8 can replace the base 3.7-liter V6 for $4,425. Ford has not released pricing on the different bed lengths yet, but opting for the 6.5-foot bed on the XLT raises the price $1,240 and forces buyers into the 5.0-liter V8. We'd expect a similar arrangement on the STX.
The other big news for fans of affordable pickups is the addition of an STX Sport Package on the base-level truck. It adds 20-inch wheels, black exterior accents, black-and-gray cloth seats and decals on the truck's box. The Sport Package is available on all three of the STX's body styles, with Ford listing the price as $980 with current discounts.