Word: dearborn
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Depth over breadth and the ability to leap across disciplines are exactly what teachers aim for at the Henry Ford Academy, a public charter school in Dearborn, Mich. This fall, 10th-graders in Charles Dershimer's science class began a project that combines concepts from earth science, chemistry, business and design. After reading about Nike's efforts to develop a more environmentally friendly sneaker, students had to choose a consumer product, analyze and explain its environmental impact and then develop a plan for re-engineering it to reduce pollution costs without sacrificing its commercial appeal. Says Dershimer...
Read the stories about Ford Motor Co., and you may think things are pretty bleak in Dearborn, Mich. A new CEO, Alan Mulally, is parachuting in from Boeing, supposedly armed with turnaround tools that will put Ford in the black. One part of the company's luxury division, Aston Martin, is on the auction block, and Jaguar and Land Rover may soon follow. Wall Street has lost confidence: Ford's stock, which closed at $8.77 a share last week after a recent run-up, is still valued at less than the company's cash on hand. This week Ford...
...bounced back under Dieter Zetsche, who emphasized distinctive design and management discipline. Now he's a TV star. And Nissan was nearly bankrupt when Renault's Carlos Ghosn flew in and orchestrated a stunning turnaround (he declined overtures from outgoing CEO Bill Ford to try the same trick in Dearborn). Central to both revivals, however, is something Ford has too often forgotten: it's all about the car, stupid. "No automotive turnaround has been successful without a steady flow of strong products," notes General Motors chief Rick Wagoner, who is also attempting a product revival, with mixed results...
...blame all of Ford's woes on mishaps in Dearborn. Soaring gas prices are killing two of Ford's strongest segments: pickup trucks and SUVs. And like GM, Ford pays crippling "legacy" costs for retiree benefits. David Cole, head of the Center for Automotive Research, estimates that Ford's disadvantage against foreign automakers amounts to an average of $2,500 a vehicle--money that could otherwise go into features like armrests in base models, keeping Ford competitive. "When you're constrained by that level of difference," he says, "it compromises your ability to do things...
...these are desperate times in Dearborn. Since 2001, Ford Motor has suffered more than $9 billion in losses from its North American auto operations. Companywide, Ford lost $254 million in the second quarter. Ford's market share in August, 16.8%, was the second lowest on record. Sales of pickup trucks and SUVs, Ford's only major profitable segments, have plummeted in the last year, hit by high gas prices and stiff competition from GM and Toyota. A 21% production cut is in store for the rest of the year. Any way you slice it, Ford is shrinking fast...