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My Other Car Is A Gulfstream V

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Apr 05 2007 12:00am EDT

My other car is a Gulfstream V

Good to see Tim Hanrahan of the WSJ in Michelle Leder territory, reading Ford's latest proxy filing:

Chairman William Clay Ford and Chief Executive Alan Mulally were required to use company aircraft for all business and personal air travel for security reasons, and that their families and guests were allowed to accompany them on our aircraft. The company also said that "in order to ease the burden" of Mr. Mulally moving to Dearborn, Mich., and away from his family in Seattle, the compensation committee clarified that his arrangement covers travel by his wife, children and guests on company aircraft for personal reasons without him at company expense, when he requests it. For Mr. Ford, personal use of aircraft totaled $185,232, and was $172,974 for Mr. Mulally.

It gets better: Ford's North America chief Mark Fields managed to rack up a $517,560 private-jet bill in 2006, commuting to Detroit from Florida. Apparently his "security" isn't as important as that of the CEO, however: since January he's been reduced to flying commercial.

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