These may be early days, but Ford's Team Turn-Around is doing a very poor job of it. FoMoCo brings in Alan Mulally as CEO and so far what he's succeeded in doing is to call for cutting costs at all costs except for when it comes to awarding millions to FoMoCo's executive board.

With a $12.7 Billion loss last year, a $23.4 Billion loan on all the company's assets this year, five months of slumping North American sales, closed employee day care, and 45,000 jobs cut, Ford's senior management has picked the worst possible time to award themselves for a job not done.

It seems that Mr. Mulally has done a fine job in lining his own pockets with Ford ca$h - nearly $40 million in the first four months in office as chief executive. If Mr. Mulally should quit his job, or if the Blue Oval goes bust, he'd drift away with an additional golden parachute package of $27.5 million.

We should also note that one of Mr. Mulally's key moves to return the automaker to profitability will be negotiating lower wage deals with the UAW this summer.

[Source: Reuters]