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After a five-year wage freeze, Ford Motor Co. Executive Chairman Bill Ford Jr. is getting paid again. It’s another sign that the automaker founded by his great-grandfather Henry Ford is healthy enough to award its top executives generous pay packages.
Bill Ford will be paid $4 million in salary and in stock options with a current value of $11 million to $12 million. The total represents pay he has earned over the last two years.
For 2011, Explorer gets a lower profile and improved fuel economy.
The 2011 Ford Explorer was revealed in rock-star fashion this morning on stage at Millennium Park, bursting through a faux wooden crate stamped “Chicago” as vamping guitar music played.
“I believe it’s the most dramatic reinvention yet,” said Bill Ford, executive chairman of Ford Motor Company.
Governor Pat Quinn said there was competition to bring the vehicle to Chicago, a move that will bring 1,200 jobs to the South Side assembly plant here. Get the full story »
