Alan Mulally

3M Co.'s chief executive and chairman, James McNerney Jr., said he was not a candidate for the top job at Boeing Co. McNerney was one of three people cited by analysts as likely candidates to be CEO at Chicago-based Boeing, where he is a board member. Other possible candidates named by analysts included Alan Mulally, who runs Boeing's commercial airplane business, and Jim Albaugh, who runs its defense business. The company has said acting CEO James Bell is not a candidate for the permanent job.

Ford Motor Co. said its top executives met with representatives of billionaire Kirk Kerkorian's Tracinda Corp., a week after the investor completed an offer to buy more of the automaker's shares. The meeting "was positive and a chance for the leaders of both companies" to discuss Ford's turnaround efforts, the Dearborn, Mich.-based automaker said. The second-largest U.S.-based automaker said Chairman William Clay Ford Jr. and Chief Executive Alan Mulally attended. The statement didn't identify who represented Tracinda.

Alan Mulally, head of Boeing Co.'s commercial aircraft division, sold $3.8 million in Boeing stock last week, about half of his total outright stock holdings. Mulally was a top internal candidate to become Boeing chief executive after ex-CEO Harry Stonecipher left in March, but the job went to former 3M CEO James McNerney instead. After McNerney was appointed, Mulally said he intended to stay on. According to securities filings, Mulally sold 57,494 shares at $66.20 each.

Boeing Co. forecast an increase in its 2004 commercial aircraft output while restating its view that next year's deliveries will show a decrease from this year's levels. "We will have enough orders to support 275 to 300 deliveries next year and more deliveries in the following year," said Alan Mulally, chief executive of Boeing's commercial aircraft unit.

Leaders of the Big Three domestic automakers will bring up currency exchange rates and healthcare costs when they speak with President Bush on Tuesday, Ford Motor Co.'s chief executive said. "Clearly, having a level playing field is very important," Alan Mulally said in an interview with the editorial board of the Detroit Free Press. Mulally, hired recently from Boeing Co., also said he would talk to the president about other free-trade issues that give foreign products advantages over U.S.

Ford Motor Co., which lost a record $14.7 billion last year, awarded Chief Executive Alan Mulally $13.6 million for 2008, a year when the stock fell 65%. His total pay fell 37% from 2007. Mulally's compensation included $2 million in salary and no bonus, according to a regulatory filing. Ford, which had a 17.5% decline in global vehicle sales in 2008, is the only major U.S. automaker not seeking U.S. loans. In 2007, Mulally, 63, received a total pay package worth $21.7 million, which included $2 million in salary and $7 million in bonuses.

Ford Motor Co. has sufficient liquidity to weather an economic downturn, even if the economy worsens, Chief Executive Alan Mulally said. Mulally said Dearborn, Mich.-based Ford initially believed it would need $17 billion for restructuring and to cover losses, but it raised $23 billion, giving it a cushion. Mulally said he didn't know whether he had enough time to fix Ford, though he was confident in its restructuring plan that called for a return to profitability in 2009. The CEO's comments came two days before the automaker expects to announce the details of another round of buyout and early-retirement packages for hourly workers when it reports its 2007 earnings and future projections Thursday.

Billionaire Kirk Kerkorian sold 26.4 million more Ford Motor Co. shares as he unwinds a $995-million investment in the second-largest U.S. automaker to focus on gambling, hotels and energy. Kerkorian, 91, reduced his holdings to 107.1 million shares, or 4.89%, his Tracinda Corp. said in a regulatory filing. The sales occurred Oct. 21 through Monday at an average of $2.01 a share, Tracinda said. The investor last week reversed course on Ford less than six months after expressing confidence in Chief Executive Alan Mulally's turnaround efforts.

Boeing Co. said its narrow-body jet plant in Renton, Wash., was operating at 80% of capacity and that Wednesday's powerful earthquake would cause only minor financial pain. The Seattle-based aerospace giant said it would temporarily shift some operations from Renton to its underutilized facility in Everett, Wash., where it builds the wide-body 747, 767 and 777 models.

Ford Motor Co. announced a shake-up of its top management to help streamline vehicle development efforts and bring Chief Executive Alan Mulally closer to key operations. In his first major move since taking his position full time in October, Mulally created the post of global product development chief at the struggling No. 2 U.S. automaker and eliminated a layer of management outside North America. Derrick Kuzak will lead the new group, reporting to Mulally.