1988 Ford Mustang Convertible on 2040-cars

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Ford and GM link bonus checks to quality scores

The poor first quarter earnings of Ford and General Motors are having an effect all the way up the food chain. Both automakers struggled with recalls in the first three months of the year, and, according to The Detroit News, they have responded by increasing the percentage of bonuses tied to vehicle quality for salaried workers, including top executives.
GM announced that 25 percent of bonuses (up from 10 percent) for all salaried workers would be tied to its vehicle quality standards. The automaker revealed in its financial report that it spent $1.3 billion on recall-related repairs in the first quarter, and net income was down 86 percent.
Ford also increased the quality proportion of bonuses for about 26,000 salaried workers all the way up to CEO Alan Mulally from 10 percent to 20 percent. The company announced in its report that the amount paid out in warranty and recall claims was about $400 million higher than expected in the first quarter. Its net income fell 39 percent from the previous year. "The change reflects how critical quality is to our overall business," said spokesperson Todd Nissen speaking to Autoblog.

Watch the Hennessey Ford GT makes its record run at Texas Mile

We said they'd probably be out with an official video, we did not lie. The Hennessey-powered camouflage Ford GT sat at one end of the runway at the Texas Mile sitting still. At the other end of the runway it had broken its own speed record, the twin-turbo 5.7-liter V8 pushing the aerodynamic supercar up to 267.6 miles per hour, a 4.3-mph improvement over the old mark.
There's not much in the video you haven't already seen, this just makes it official. That said, who doesn't want to see a twin-turbo Ford GT set an incredible speed record? You can watch it below.

Watch live as Mark Fields is officially named Ford's next CEO

We've heard rumblings of a changing of the guard at Ford, and this live stream from The Blue Oval itself is set to confirm the rumors: Alan Mulally will be succeeded by the automaker's current Chief Operating Officer, Mark Fields.
Mulally, who is 68 years old, has served at the head of Ford for eight years, and his official retirement date will be July 1st, 2014. Fields, who is 53 this year, has been with Ford for 25 years and has been groomed to take the helm from Mulally for the last several of those years.
There's an official press release that you can read, but if you're more of a visual person, you're welcome to watch the live video feed of the announcement down below.