Word: nasserization
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Jurgen Schrempp, the once swaggering chairman of DaimlerChrysler, is praying that the billions of dollars in losses at Chrysler and Mitsubishi (in which he bought a ruling share last year) don't sink the entire company. Ford CEO Jacques Nasser has a collection of premium brands in his stable: Aston Martin, Jaguar, Land Rover and Volvo. But amid a weak economy, sales at Ford and GM are down some 15% this year, and even the luxury brands are under new pressure from smaller Japanese and German automakers...
...days before Ford acted last week, Lampe learned that the automaker was considering a recall. Lampe angrily phoned Nasser from a meeting in Mexico and again during a plane change in Dallas, but the Ford CEO avoided him. Ford vice president Carlos Mazzorin returned Lampe's call and agreed to a 7 a.m. meeting at Firestone headquarters in Nashville, Tenn., where the two men wrangled over whether the federal data justified a new recall. Even before that meeting, a wary Lampe had drafted a letter to Nasser terminating the historic partnership between Ford and Firestone...
...tires-mounted mainly on Explorers-that were excluded from Firestone's sweeping 6.5 million tire recall last August. Firestone admitted that those tires were no good but maintains that everything else on the road today is safe. Ford doesn't see it that way. Declared Ford boss Jacques Nasser: "We simply do not have enough confidence in the future performance of these tires keeping our customers safe...
...days before Ford acted last week, Lampe learned that the automaker was considering a recall. Lampe angrily phoned Nasser from a meeting in Mexico and again during a plane change in Dallas, but the Ford CEO avoided him. Ford vice president Carlos Mazzorin returned Lampe's call and agreed to a 7 a.m. meeting at Firestone headquarters in Nashville, Tenn., where the two men wrangled over whether the federal data justified a new recall. Even before that meeting, a wary Lampe had drafted a letter to Nasser terminating the historic partnership between Ford and Firestone...
Being a spectator during Firestone taught Ford a lot about the company that Nasser runs, and it tested their relationship. Many of the top vice presidents, most of whom sit on the 11th and 12th floors at headquarters, are new, not guys who grew up in the company. Although Ford and Nasser talk often, Nasser moves so fast that important decisions have been made without Ford's input. Ford has been frustrated at not having more say, although he realizes that he can't be seen to be interfering lest that tip the scales with Nasser, who, an executive says...