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Alan Mulally has no experience building cars. He isn't well known in Detroit, having spent more than three decades in Seattle as an engineer and senior executive with Boeing. Up until yesterday, when he was named CEO of Ford Motor Co., replacing Bill Ford, he drove a Lexus - a plush ride, to be sure, but not a car you'd drive to Lions football games as a Motown exec. "That Lexus has been destroyed," Bill Ford joked in an interview with TIME. "We had it vaporized during yesterday's press conference." Mulally, for his part, acknowledges...
...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...
...Died. Glenn Ford, 90, nice-guy leading man who won consistent critical praise over a career that spanned half a century and more than 80 films; in Los Angeles. The Canadian-born actor oozed decency and strength as the good guy in westerns, comedies and thrillers?including The Blackboard Jungle, as a teacher who inspires rebellious New York City kids, Pocketful of Miracles, with Bette Davis, and the noir classic The Big Heat, as a detective determined to track down his wife's killers. Of his genre-crossing career, he once said simply: "I like to work...
...picture-sharing site. The photos documented a training session, after which co-workers progressed to inebriated nakedness. Because a worker posted the pictures without consent, he was fired. "If you'd be embarrassed that your mom saw it, don't post it," advises Kevin Kraham, a law partner at Ford & Harrison...
DIED. Glenn Ford, 90, nice-guy leading man who won consistent critical praise over a career that spanned a half-century and more than 80 films; in Los Angeles. Born in Canada to parents who insisted he learn to build and fix houses as a fallback, Ford epitomized decency and strength as the good guy in westerns, comedies and thrillers--including The Blackboard Jungle, as a teacher who inspires rebellious New York City kids; Pocketful of Miracles, with Bette Davis; and the noir classic The Big Heat, as a detective determined to track down his wife's killers...