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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

Jay Leno and Lee Iacocca reflect on 50 years of Ford Mustang

Lee Iacocca oversaw the birth of the Ford Mustang back in the 1960s, rocketing the new pony car nameplate into million-unit sales territory in its initial go-round and cementing its place in the history books. Thus, we were immediately drawn to this latest episode of Jay Leno's Garage, in which the funnyman hosts Iacocca for a look at the origins of Ford's most iconic sports car. The legendary auto exec is looking notably more frail than when we last saw him, but if we're being asked around as a video guest when we're 89 years old, we'll consider that evidence of a life well lived.
Serial No. 0001 is on hand for the occasion for Jay's romp through history, as is the historic Mustang 1 showcar from 1962. Of course, the all-new 2015 Ford Mustang GT (in prototype form) makes an appearance at the end of the episode with chief engineer Dave Pericak, as well. Get some, below.

2016 Ford F-150 gets sporty new sport mode for added sportiness

Good news, everyone! The Ford F-150 fullsize pickup truck is getting a new sport mode for 2016. Because it needs it, or something. "Crazy-smart Ford engineers have struck again – this time blending the sport mode feature borrowed from the all-new Mustang with the reduced weight of the all-new F-150 to deliver an engaged, dynamic driving experience with any of the four high-output, fuel-efficient powertrains available to truck customers," Ford says in its press release. In fact, the Mustang tie-in comes up a few other times. "An advanced feature of F-150's six-speed automatic transmission is its ability to match engine rpm as it downshifts in slowing for a corner. Electronics calibration for this feature comes straight out of Mustang." That's right, folks. A two-ton truck with rev-match downshifts. The F-150's sport mode holds the transmission in the powerband, limiting upshifts during more spirited driving. "It makes Mustang come alive, and we feel it does the same thing in F-150," says one Ford engineer. Sport mode is activated by pushing the tow/haul button twice, at which time an amber "S" illuminates in the dash. We're hoping this also means that pushing the sport button in a Mustang will activate tow/haul mode. Sport mode is standard on all 2016 F-150s, and can be used with two- or four-wheel drive. More details are available in the release, below. Related Video: F-150 PERFORMANCE ENHANCED BY NEW SPORT MODE - 2015 Ford F-150's 700-pound weight savings, its choice of four high-output, more fuel-efficient powertrains, and – for the first time ever – an on-demand sport mode combine to enable an improved driving experience for truck customers - Six-speed automatic transmission with sport mode is standard across F-150 lineup; system operates in two-wheel drive, four-wheel-drive automatic and four-wheel-drive high settings - Automatic transmission technology used for both Mustang and F-150 was jointly created – allowing some performance advantages of the pony car to be applied to the pickup truck for a more responsive driving experience DEARBORN, Mich., Aug. 5, 2015 – Crazy-smart Ford engineers have struck again – this time blending the sport mode feature borrowed from the all-new Mustang with the reduced weight of the all-new F-150 to deliver an engaged, dynamic driving experience with any of the four high-output, fuel-efficient powertrains available to truck customers.