• Jul 20th 2006 at 3:05PM
  • 26
Mark Fields – "If we have to move faster and cut deeper, we will."

The Detroit News is reporting that Ford will accelerate its Way Forward Plan in light of the $123 million loss it posted for the second quarter, which was much larger than what analysts were expecting. Mark Fields, Ford's President of the Americas, and his gang will announce in the next 60 days what form this acceleration will take, but we can expect Ford to move faster in meeting its goal of shedding 30,000 factory jobs and closing 14 factories by 2012.

Ford's second quarter loss was so large, some analysts are questioning whether or not the Blue Oval has enough cash to last through the Way Forward Plan. Currently Ford has $23.6 billion in cash, but David Healy of Burnham Securities Inc. believes Ford will spend $10 billion of it this year and another $14 billion next year, effectively wiping it out.

The same analyst also claims Ford has "absolutely the most boring product line" in the industry. Is that why Ford is losing money hand over fist, or is it more systemic in the way the Blue Oval operates and does business?

[Source: The Detroit News]

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    • 1 Second Ago
      • 9 Years Ago
      Yeah an E70/E85 mandated ban!
      • 9 Years Ago
      " poorly constructed Ford 500"

      Based on what information? If your going to bash at least provide some backup to your claim.
      • 9 Years Ago
      I wonder how long it will take Bill Ford to realize that he has absolutely no idea what he is doing?
      • 9 Years Ago
      The Ford Five Hundred is absolutely the most bland, boring, generic car on the market today. It looks like it was designed with 85 year old drivers as the market.

      The Taurus and Escort were two of the top 10 sellers in America back in the 90s - not that long ago. Now, every Ford car looks like a rental lot candidate. I like the Fusion, but what else is there? Mercury makes no unique models, every Ford except the Fusion and F-150 is a joke.....there's just not a lot there (product-wise) to bail the company out of this hole.
      • 9 Years Ago
      new ford designs are perfectly fine, the problem is that most of their product line is so laffably out of date that noone even looks at them. how many crown vics did ford sell to individual customers last year? now how many 300c/chargers did chrysler sell? a large rwd car should be a cash cow for ford but for some reason the are unwilling or unable to sell it in the american market.

      did you know they are designing a totally new ranger THAT WILL NOT COME TO THE US!?!?!

      companies that stupid deserve to go out of business.
      • 9 Years Ago
      The other day NBC's Today show had a segment on men in the mid-life buying convertibles. The showed off the GT500 and said the price was $45,000. I laughed my butt off considering you can't get one for under 80 grand on a good day.

      That's ok, we know how Ford dealerships should treat their customers: hand them a brochure that says how to grab the ankles.

      So, how many of the 14 factory closings will be met with openings in Mexico?
      • 9 Years Ago
      I didn't realize how broke Ford was...They should be looking for someone to purchase them!!!!
      • 9 Years Ago
      $123 million In 3 months? Why GM can lose that much in 3 days!
      • 9 Years Ago
      Ford sowed the seeds of their likely future demise in the late 80's and through the 90's when they totally abandoned any serious development of anything but SUV's and trucks. They were like a junkie, hooked on the $10k profit margins of Expeditions and the like. If it hadn't been for the 90's cheap gas, SUV boom and the temporary huge profits, both Ford and GM would be bankrupt by now. The $24 billion they're sitting on is the legacy of that temporary high, and when its gone, Ford is in deep doo-doo. It's just protracting the seemingly inevitable demise of US car manufacturers: Don't forget what happened to American TV, stereo, electronics, and camera manufuacturers: anybody remember RCA, Philco, Admiral, Kodac, Agfa, etc., etc.? Its just part of the the seemingly inevitable change (demise) of big-brand US manufacturers. And if you study their history, it was their own arrogance that did them in.
      • 9 Years Ago
      "And for heaven's sake, get rid of that solid rear axle!"

      the mustang is the one bright spot in fords line up. only people who would never buy a mustang want the mustang to have an irs. those actually in the market for a muscle car know that the irs was the smart way to go.
      • 9 Years Ago
      Boring lineup or not, Ford still sells a decent number of cars.

      They can't blame a $123 million loss in one quarter on sales alone. Its a much deeper problem than they'd like to admit, and its gonna take a total restructuring of the entire organization if they ever wish to return to profitability.
      • 9 Years Ago
      Should see Way Fordward results in
      Somebody or anybody I need HELP

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