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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.

Slew of Ford recalls affect more than a million vehicles

Ford is closing out September with the sad task of alerting owners to five different recalls, two of them camera related. The first is a safety compliance recall affecting 620,246 units of 12 models from the 2020 model year: Edge, Escape, Expedition, Explorer, F-150 and Super Duty, Mustang, Ranger, and Transit, plus the Lincoln Corsair, MKX, and Nautilus. On these vehicles, the circuit board in the rearview camera suffers from insufficient electrical conductivity. The issue can cause the resulting image to not appear or to be distorted, which can lead to an accident while reversing. Ford will begin notifying owners as of November 7 to get their vehicles to dealers for replacement of the rearview camera. The internal Ford reference for this recall is 20C19. The second camera-related issue affects the 2020 and 2021 Ford Explorer, Lincoln Corsair and Lincoln Aviator with the 360-degree camera. Technically, if you own a 2021 Explorer that only has a rearview camera and not a 360-degree camera, neither the above recall nor this one apply to you, but it's probably better safe than sorry here. There are 354,330 crossovers covered by this action. A video output issue could cause the displayed image to cut out, increasing the chances of a reversing accident. Ford will notify dealers starting October 7, the fix being to have a dealer update the Image Processing Module software. The NHTSA campaign number for this recall is 21V735, Ford’s internal reference number is 21S44.  The F-250 and F-350 Super Duty are in for another recalls thanks to potentially improper welds on the front axle's wheel end yoke. A bad weld could alter steering performance, getting the truck to pull left or right, or change the sensitivity of the steering. There are 9,628 affected trucks in the U.S. and 961 in Canada. Dealers will replace the axle assembly if any bad welds are found. Ford's reference number for this is 20S56. The fourth recall affects 38,005 Mustangs in the U.S. and another 2,873 Mustangs in Canada and Mexico from the 2020 model year. In this instance, the brake pedal bracket might fracture during sudden stopping, which can decrease brake pressure and increase the chances of an accident. Ford's internal reference for this recall is 20S52, the fix being to have a dealer replace the brake pedal bracket assembly. Finally, 126,033 units of the 2011 to 2013 Explorer are being recalled over a potential suspension issue.

Ford Mustang outsold Audi TT and Porsche 911 in Germany

Despite being the antithesis of the cars Germany is known for, the new Ford Mustang was the best selling sports car in the land of schnitzel and beer last month by a whisker. The Mustang beat out the Audi TT by 780 units to 708, and it beat Germany's best known performance car, the Porsche 911, 780 to 752. That makes some sense, right? The Mustang has to be cheaper than those competitors, right? Not really. Both the EcoBoost and V8-powered Mustang have higher starting prices than the equivalent TT. The 2.3-liter, EcoBoost-powered Mustang starts at 38,000 euros (around $43,300 at today's rates), while the front-drive Audi TT starts at 35,950 euros (about $41,000). The V8-powered Mustang GT, meanwhile, starts at 43,000 euros (about $49,000), which is just 2,550 euros more than the Quattro-equipped TT. When 310 horsepower or 435 hp can be had for just a couple thousand more than 220 hp, it's easy to understand the Mustang's success. The 911, of course, is a lot more expensive than the Mustang. You can buy two Mustang GTs for the price of a single Carrera. But Ford also managed to beat out the Porsche's smaller siblings, the Boxster and Cayman twins, which sold a combined 642 vehicles. Again, the pony car is significantly cheaper, but that doesn't do much to lessen the impact of the Mustang's victory. If you're in Germany and are concerned about this American invasion, you shouldn't be (yet). The TT is Germany's best-selling sports car from January through March, with 2,299 to the Ford's 1,823. Porsche is breathing down the pony car's neck, too, with 1,811 units in 2016. It'll be interesting to see if Ford's successful March carries on into the rest of 2016. Related Video: