Donald E Petersen

Harold A. "Red" Poling, a former Ford Motor Co. chairman and chief executive officer who helped lead the automaker through two recessions, has died. He was 86. Poling died Saturday at his home in Pacific Grove, on the Monterey Peninsula, the Dearborn, Mich.-based company announced. The cause was not given. As chairman and chief executive from 1990 to 1994, Poling led the company through a deep recession, when Ford's sales in North America and Europe plunged and losses totaled $9.64 billion in 1991 and 1992.

Harold A. "Red" Poling, a former Ford Motor Co. chairman and chief executive officer who helped lead the automaker through two recessions, has died. He was 86. Poling died Saturday at his home in Pacific Grove, on the Monterey Peninsula, the Dearborn, Mich.-based company announced. The cause was not given. As chairman and chief executive from 1990 to 1994, Poling led the company through a deep recession, when Ford's sales in North America and Europe plunged and losses totaled $9.64 billion in 1991 and 1992.

The chairmen of General Motors Corp. and Ford Motor Co. took sharp pay cuts in 1989 during an auto industry slump but still received more than $9 million between them, the companies said Monday. Ford Chairman Donald E. Petersen received $6.6 million in salary, bonuses and stock options last year, down from $10.5 million in 1988, the No. 2 auto maker said in its annual proxy statement. GM Chairman Roger B. Smith was paid $2.5 million, down from $3.

The chairmen of General Motors Corp. and Ford Motor Co. took sharp pay cuts in 1989 during an auto industry slump but still received more than $9 million between them, the companies said Monday. Ford Chairman Donald E. Petersen received $6.6 million in salary, bonuses and stock options last year, down from $10.5 million in 1988, the No. 2 auto maker said in its annual proxy statement. GM Chairman Roger B. Smith was paid $2.5 million, down from $3.

Ken Upchurch, who flew in from Albuquerque just to see the car show in Orange County, said Sunday that he was not disappointed. Looking around at the hundreds of vintage automobiles, Upchurch said, "It's fabulous. There are more (display) cars here than I've ever seen in one place." Another visitor, Larry Quay of Covina, said, "For someone who likes cars, this is like Christmas." And yet another visitor, Donald E. Petersen of Detroit, chairman of board of the Ford Motor Co., said, "This is the biggest show of Mustangs in the nation."

Ford Motor Co. Chairman Donald E. Petersen--who engineered much of the auto maker's dramatic turnaround in recent years and its adoption of sleek, aerodynamic styling--said on Friday that he will retire March 1 and be replaced by Vice Chairman Harold A. Poling. The nation's No. 2 auto maker is not expected to make any dramatic changes as a result of Petersen's departure, say analysts, who had expected the highly regarded, 63-year-old chairman to remain on the job for at least one more year.

Donald E. Petersen says the worst day in his 40 years with Ford Motor Co. came shortly after he was named president in March, 1980, when he realized that the No. 2 auto maker was in worse shape than he'd thought. "It was certainly a sobering day," he said. "It was probably the most sobering day." The company had just reported a $1.17-billion loss for 1979, the second straight annual loss and a 30% decline over 1977's performance.

The Ford Motor Co. will become the first U.S. auto manufacturer to provide a motorized automatic safety belt as standard equipment. Ford Chairman Donald E. Petersen said the motorized belts, which will wrap around a front-seat occupant when the ignition is turned on, will be installed in 1987 model Ford Escort and Mercury Lynx. The federal government is requiring auto makers to phase in either passive belts or air bags over the next three years.

Regarding the April 13 story, "Ford Pays $248 Million in Bonuses": Since we are in the market for a new car you can be sure it will not be a Ford after reading the bonuses paid Ford Chairman Donald E. Petersen (1987 compensation $3.7 million) and Vice Chairman Harold A. Poling (1987 compensation $2.8 million). Disgusting. MARIAN OLSON Huntington Beach

Ford Motor Co. Chairman Donald E. Petersen--who engineered much of the auto maker's dramatic turnaround in recent years and its adoption of sleek, aerodynamic styling--said on Friday that he will retire March 1 and be replaced by Vice Chairman Harold A. Poling. The nation's No. 2 auto maker is not expected to make any dramatic changes as a result of Petersen's departure, say analysts, who had expected the highly regarded, 63-year-old chairman to remain on the job for at least one more year.

Donald E. Petersen says the worst day in his 40 years with Ford Motor Co. came shortly after he was named president in March, 1980, when he realized that the No. 2 auto maker was in worse shape than he'd thought. "It was certainly a sobering day," he said. "It was probably the most sobering day." The company had just reported a $1.17-billion loss for 1979, the second straight annual loss and a 30% decline over 1977's performance.

Ken Upchurch, who flew in from Albuquerque just to see the car show in Orange County, said Sunday that he was not disappointed. Looking around at the hundreds of vintage automobiles, Upchurch said, "It's fabulous. There are more (display) cars here than I've ever seen in one place." Another visitor, Larry Quay of Covina, said, "For someone who likes cars, this is like Christmas." And yet another visitor, Donald E. Petersen of Detroit, chairman of board of the Ford Motor Co., said, "This is the biggest show of Mustangs in the nation."

Ford Motor Co. customers will be able to buy some cars with air bags as optional safety equipment starting in March, Chairman Donald E. Petersen said today. Ford said the air bag system will be optional on Ford Tempo and Mercury Topaz four-door sedans at a suggested retail price of $815. The air bag will be on the driver's side of the car, Ford said. The move makes Ford the first American car manufacturer to make air bags available to the general public.