Sometimes it pays to be the boss

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The Associated Press reported yesterday that Ford CEO Alan Mulally took home about US$17.9 million last year.

The hefty paycheque, calculated by the news agency based on government filings, shows that Mulally took a 30 per cent pay cut to $1.4 million last February during the doldrums of 2009’s plummeting economy.

Mulally did not accept a bonus either. The $17.9 million tally comes from the value of his stock options.

- with files from The Associated Press