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• Alan Mulally is the Chief Executive Officer of Ford Motor Company. On December 2, 2008, he, was one of several Detroit automakers who spoke to the press about their planned appeal to Congress for assistance with a bailout.Yahoo News: Ford tells Congress it may be able to go it alone (December 2, 2008)

  Mulally and two Ford executives left Detroit on Monday, December 2, 2008, in a Ford Escape hybrid for the 10-hour drive to Washington, DC. The gesture was a response to the public relations fiasco that he and the other Detroit automakers made in November when they each flew private jets to ask for money for their failing companies.Reuters: Detroit CEOs take road less traveled to Washington (December 2, 2008)

• Fast Facts

  1. President and CEOFord Motor Company: Biography: Alan Mulally
  2. Joined Ford in September 2006Ford Motor Company: Biography: Alan Mulally
  3. Previously employed: Boeing, beginning in 1969 and eventually rising to executive vice presidentFord Motor Company: Biography: Alan Mulally
  4. Born: August 4, 1945, Oakland, CaliforniaBusiness Week: [http://www.businessweek.com/magazine/content/01_27/b3739180.htm Resume: Alan Mulally
  5. Spouse: Jane "Nikki" ConnellBusiness Week: [http://www.businessweek.com/magazine/content/01_27/b3739180.htm Resume: Alan Mulally
  6. Children: Three sons and two daughtersBusiness Week: [http://www.businessweek.com/magazine/content/01_27/b3739180.htm Resume: Alan Mulally
  7. Total estimated compensation in 2007: $22 millionBusiness Week: Executive Profile: Alan R. Mulally
  8. Education: BS and MS in aeronautical and astronautical engineering, University of Kansas; MA in Management from Massachusetts Institute of TechnologyFord Motor Company: Biography: Alan Mulally
  9. Cost for the automobile trip: $70 in gas, plus tollsReuters: Detroit CEOs take road less traveled to Washington (December 2, 2008)
  10. Cost of a round-trip business-class ticket from Detroit: $1,400Reuters: Detroit CEOs take road less traveled to Washington (December 2, 2008)
  11. Cost of private jet: estimated at $4,600/hourReuters: Detroit CEOs take road less traveled to Washington (December 2, 2008)
  12. Mulally, General Motors CEO Rick Wagoner and Chrysler CEO Bob Nardelli will appeal directly to Congress on December 4 and 5, 2008Yahoo News: Ford tells Congress it may be able to go it alone (December 2, 2008)

• Ford's Financial Status

  According to Mulally, although Ford is suffering this year, the situation is not as dire as at GM and Chrysler. Ford's light vehicle sales fell 31% in November 2008, compared to over 47% for Chrysler and 41% for GM.CNN: At a Glance: US Auto Makers Make Loan Pitch As Sales Plunge (December 2, 2008) Yahoo News: Ford tells Congress it may be able to go it alone (December 2, 2008) Ford owes more than $26 billion, including $6.3 billion to the union trust fund by the end of 2009; Chrysler owes $45 billion, with $7.5 billion due to the unions by 2010. As a private company, Chrysler doesn't have to detail its financial situation, but its CEO says it needs federal aid to stay afloat.Yahoo News: Ford tells Congress it may be able to go it alone (December 2, 2008)

  Ford has asked for $9 billion as a "standby line of credit" to stabilize its business; GM wants $4 billion immediately and $18 billion in total loans; and Chrysler a $7 billion bridge loan by the end of the yearYahoo News: Ford tells Congress it may be able to go it alone (December 2, 2008) CNN: At a Glance: US Auto Makers Make Loan Pitch As Sales Plunge (December 2, 2008)

  Mulally promised that if Ford takes any government money, he would personally work for $1 per year; and he would cancel management bonuses and merit raises for salaried employees.Yahoo News: Ford tells Congress it may be able to go it alone (December 2, 2008)

• Related Pages on Mahalo

  Ford | Chrysler | General Motors | GM Ford Losses | [[GM $39 Billion Loss]] | General Motors SUV Plant Closing | Automaker Bailout | University of Kansas | Boeing | Massachusetts Institute of Technology | Rick Wagoner

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