"The Seattle Way" Comes to Detroit

Former Boeing executive Alan Mulally took over as Ford's CEO in September, and so far, well, um...

Ford Motor Co. lost a staggering $12.7 billion in 2006, an average of $1,925 for every car and truck it sold. The company that invented the assembly line and whose name was a byword for the auto industry warned it will bleed cash for two more years before it has a shot at making money.

Ford's loss, reported on Thursday, was the worst in the company's 103-year history and came amid slumping demand for sport utility vehicles and other gas guzzlers and huge restructuring costs tied in part to the planned closure of 16 plants.

Let's be fair, the guy took over only a few months ago. I'm sure he's going to clean house and demand better results from his execs, right? Right?

Ford Motor Co. may resume paying executive bonuses to boost the morale of managers battered by three rounds of job cuts and plant closings in the past five years, people familiar with the matter said.

Bonuses after the worst losses in company history? Makes sense to us. That's the kind of decisive leadership we're used to around here. Evidently Mulally's a praying man--he'd better get on the hotline to God right quick.

Hoo boy. Detroit has not been kind to us Seattleites of late.