Will Ford CEO's pay cut sway UAW members?

Hoping to convince members of the United Auto Workers to approve yet more concessions, Ford Motor Co. (NYSE: F) slashed pay of top executives by 30 percent over the next two years. Bonuses for salaried workers also have been suspended.

The "we are in this together" gesture rings hollow to me. After all, Mullaly got a huge pay package when he joined the struggling car company in 2006 from Boeing Co. (NYSE: BA). Investors hoped that he would bring the same magic that earned him kudos for running Boeing's commercial plane business to Ford.