Word: motoring
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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...
...doesn't take a leap of faith to imagine a healthy Ford Motor. Chrysler 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...
...Ford Motor needs the kind of head-knocking leadership that, undermined by endless management shuffles and power struggles, Bill Ford didn't provide. Ford's product-development staff has been reorganized half a dozen times since the early '90s. John Mendel, a former sales executive, recalls a management meeting in the late '90s at which an analyst warned that Ford needed to invest in next-generation car designs and engineering. "The overwhelming response was that Ford is making more money than ever," he recalls, "and 'How could we be in trouble...
...Ford Motor Co. announced today that it has hired the head of Boeing Commercial Airplanes as its new CEO. The ex--Boeing chief says he's going to improve Ford cars by taking away the legroom and installing a crying baby." CONAN O'BRIEN...
Former President Bill Clinton is riding green, thanks to Ford Motor Company. The automaker announced today that it has crafted a hybrid SUV fit for presidential service. In addition to getting 32 miles to the gallon, the Mercury Mariner Hybrid ?Presidential Edition? is designed to be an executive's office on wheels and boasts a Secret Service-approved security system...