UPDATE 1-Ford to pay chairman for '08 once company profitable


(Rewrites headline and adds stock price) DETROIT, Feb 27 (Reuters) - Nearly three years after vowing to work for free until Ford Motor Co returned to profitability, Ford Executive Chairman Bill Ford Jr. could be back on the payroll. In a filing with securities regulators, the No. 2 U.S. automaker said Ford could be compensated for his work in 2008 and future years after foregoing salary and bonus payments since 2005. But at Bill Ford's insistence, no payments will be made to him until ...

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