Ford Queues Up the Bonuses Again
What do you do if you're an automaker that's teetering on the brink of disaster, that's so hard up it's offering its entire workforce bribes to quit, that's selling off everything but the gold-plated toilets in the executive suite just to keep afloat? Well, if you're Ford, you give everyone a bonus! The Detroit Free Press reports that FoMoCo is preparing to give bonuses to all its execs, salaried workers and the people who really do the work. Officially Ford says "no final decisions have been made," but they're just waiting on approval from the Board of Directors to make it so. The justification for giving bonuses even though they finished last year deep in the red? Ford "only" lost $2.7b in 2007 compared to the previous year's $12.6b hit. In other words, they sucked, but not as bad as they did before. There's no word on whether the bonuses will come before or after the workforce buyouts.