Word: forde
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Jacques Nasser finally got his wish. As Ford Motor's CEO from 1999 to 2001, Nasser campaigned to put more women and minorities in executive suites, which put off some of the firm's old-liners. Some sued, claiming reverse discrimination, while others worked quietly to speed the CEO's ouster. Yet 18 months later, with Nasser's policies embraced by successor William Clay Ford Jr., Diversity Inc., a New Brunswick, N.J., publisher that tracks hiring and promotions, named Ford as America's most diverse company. Ford topped a list of about 100 firms that answered a 50-question survey...
...FORD Spent $3.2 billion on minority- and women-owned suppliers...
...want to solve one of the central mysteries of today's auto business, consider this tale of two cars: the Ford Taurus, built at plants in Atlanta and Chicago, and the Nissan Altima, made in Smyrna, Tenn. Neither vehicle is fancy; they're mainstream sedans for buyers on a budget. Both sell well. But when you talk about profit, the Taurus wobbles off the road. Ford must entice Taurus buyers with rebate offers and financing deals that slice 13%, or roughly $3,000, off the sticker price. After allowing for dealer profits, that leaves a negative return for Ford...
...here's the mystery: if foreign-based companies like Nissan--along with BMW, Honda and Toyota--are building more vehicles in American factories, using American workers and American suppliers, and selling the vehicles to Americans for a good profit, why aren't DaimlerChrysler, Ford and General Motors doing the same? Last year the Big Three collectively lost money on car sales in North America (and earned a mere 1.8% profit on overall sales). Honda and Nissan earned higher margins and record profits, and Toyota is expected to post similar results...
...rewards could be as king-size as the vehicles' cabs. Ford earns an estimated $2,000 profit on each of its F-Series pickups, providing one of its fattest margins for a high-volume vehicle. The North American market for pickups is about 3 million a year. And while Ford will launch a redesigned F-150 this summer, Ghosn is confident that Nissan's investment in the Titan (whose platform will be used by other vehicles) will pay off. "Each time competitors enter a segment, profits have a tendency to go down," he acknowledges. "But the truck segment will remain...