Word: nasser
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Ford CEO Jacques Nasser has been doing his part - appearing in TV spots and signing newspaper ads in an attempt to quell public anxiety about the company's popular Explorer SUV and, more particularly, its disintegration-prone Firestone tires. But as he and other Ford officials appear in Washington for grilling by senators and congressmen, it's becoming clear that his efforts may be too little, too late. Perhaps hindered by the difficulties of working with another company, Ford has failed to practice the business-school paradigm established by pharmaceutical giant Johnson & Johnson when it dealt with the '80s Tylenol...
...easy for Nasser to convince anyone the company was operating in the dark - documents have reportedly surfaced pinning blame on both Firestone and Ford for the continued sale of the dangerous tires; and Wednesday's Washington Post alleges both companies were aware of the tires' potential risks after a series of incidents in Middle East markets...
...Ford CEO Jacques Nasser produces televised apology...
...Nasser, who was initially wary of getting caught up in an election-year circus, has decided to attend congressional hearings set for this week. He has promised to release all company documents showing what Ford knew and when it knew it; his counterpart at Bridgestone/Firestone, CEO Masatoshi Ono, will also be there. Both are sure to incur the wrath of politicians fed up with what they view as stonewalling. "This whole thing stinks," said Representative Billy Tauzin, the Louisiana Republican who is chairman of the House Commerce Subcommittee on Consumer Protection. "You can't tell me someone at Firestone...
...most companies in today's superlitigious society, tend to assume that the bulk of legal actions are frivolous. "We're going to be second-guessed about this forever. But based on the number of vehicles in service, the number of incidents was statistically insignificant," says Ken Zino, one of Nasser's senior advisers. "We get sued every day. A lawsuit by itself isn't considered a signal of any kind...