1998 Ford Mustang Convertable on 2040-cars

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Fields 'required' to use private aircraft, could make $5.25M as Ford CEO this year

Mark Fields' travels on the friendly skies will soon be a relatively personal affair, as the new CEO at Ford will be required to resume air travel via the company's private planes. Fields caught plenty of flak in 2007 for flying on the company's dime to visit his family in Florida. He's since flown commercial.
According to Ford spokesperson Susan Krusel, who spoke to Bloomberg, Fields (pictured above right, with Bill Ford, Jr. at center and Alan Mulally at left) will switch to private travel "for safety and to maximize his availability for company business." In addition to his new travel arrangements, the 53-year-old exec's salary and bonuses have been revealed.
Regulatory filings by Ford revealed that Fields, whose first day in the big chair was July 1, will receive a base salary this year of $1.25 million and he'll be eligible for $3.5 million in bonuses, both of which are lower than Alan Mulally's $2 million salary and $5.88 million in bonuses received last year. That's also lower than General Motors CEO Mary Barra's alleged $1.6-million salary and considerably less than Sergio Marchionne's $3.19-million fixed salary from Fiat. Despite falling short of other CEOs, Fields' new pay still represents a 33-percent increase over his pay as Chief Operating Officer.

Ford Recalling 70k Escape and Mariner Hybrids for cooling issue

Ford is recalling about 70,209 examples of the 2005-2008 Ford Escape Hybrid and the 2006-2008 Mercury Mariner Hybrid because the cooling pumps for their hybrid systems could fail.
According to the company's defect notice, it's possible for the original "Motor Electronics Coolant (MEC) Pump" to wear out and fail, which would could cause the hybrid system to overheat. If this happens, the vehicle goes into a safety mode that takes away most or all of its power. However, braking and steering still operate normally. After cooling down, the affected models restart normally. The company says that it's not aware of any accidents or injuries related to this problem.
Ford will begin repairing the vehicles in late October, and dealers will be installing improved, brushless pumps on the affected models at no charge to owners. If drivers had their pumps fail before this recall, they can contact Ford for a possible reimbursement. Scroll down to read the recall announcement from the National Highway Traffic Safety Administration or download the full defect notice as a PDF, here.

Chip Foose tastefully enhances his personal Ford GT

Typically, we'd expect a vehicle from 2006 to fall well short of a more modern vehicle, both in terms of performance and style. Of course, the Ford GT is not your average offering from the Bush era. That's doubly true when the 2006 GT in question belongs to one Chip Foose.
Purchased by his wife as a 50th birthday present, Foose is showing his custom, personalized GT at the 2014 SEMA Show. The 5.4-liter supercharged V8 breathes a bit easier thanks to a full Magnaflow Performance exhaust, but Foose's GT isn't all about the performance.
Instead, the car customizer extraordinaire has focused on tasteful aesthetic enhancement, tweaking the rear end by removing the bumper and trimming the frame extensions. The wheels, meanwhile, are one-off aluminum alloys, designed by Foose himself. Like the stripes, the wheels feature orange accenting.