The AP's reporting, by way of the Detroit News, FoMoCo Director Sir John Bond, the former HSBC chief exec, is being paid the princely salary of $25,000 per day to serve as a consultant to Chairman Bill Ford, Jr. Although Sir John's total fees under the deal are capped at $262,500 every 12 months and his role is to act as Chairman Ford's consultant for a day and a half near each of the seven regularly scheduled board meetings held every year, it's still a hella lot of money. So what's he supposed to be doing while making that cool $37,500 the day plus half before each meeting? Wethinks maybe Wee Willie Clay's delegated to Sir John the big responsibilities he's been doing for the board meetings — you know — stapling the minutes together, filling the water glasses and making sure a fresh pot of coffee's all ready to go the morning of the meeting. Whatever his role is, wethinks it's a great way to make sure those 2007 labor negotiations go off without a hitch.
Ford to pay director John Bond $25,000 per day as consultant [AP via Detroit News]
Mark Fields Drinks from the Bonus Cup at Ford [internal]