There's an interesting story behind this worried but apparently happy face. A few months ago, Ford joined the Detroit 3 group who was desperately asking for money, warning that millions of people could lose their jobs unless the states provide financial support.
Nevertheless, with the help of an advanced cost-cutting schedule, Ford managed to stay in business and continue operations even without the money sourced from the government. Moreover, the company has become competitive and expects better results in the near future, as soon as everything goes according to the plan.
"We are competitive now," Mulally told The Detroit News in an interview Friday. "The downturn is a temporary thing. We just have to make it through it. "We have the economy on the top of the agenda, and we're moving decisively to deal with it. We're not taking taxpayer money."
Alan Mulally is one of those who agreed to cut his salary by approximately 30 percent in order to save costs and eliminate unnecessary expenses. Ford's CEO Alan Mulally received a total of $13.57 million, a 37 percent decrease compared to the year before.
"Ford is acutely aware that current economic conditions have had a significant adverse impact on our shareholders, customers, dealers, employees and other stakeholders," the company said.
"We do not view these actions as merely symbolic, but as a necessary step in the restructuring of our business in which all our stakeholders have been asked to participate."
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