Ford might increase cuts in slow economy
Mark "the Mullet" Fields dropped some small ordinance during an interview with the Wall Street Journal today, saying that if the slow U.S. economy puts the automaker at risk of not meeting its financial goals for the next two years, it may increase the rate at which it will cut costs.To quote Ford's executive veep of North and South American operations, "There's more risk than there is opportunity going forward." Fields maintains that the combination of the turmoil-ridden home mortgage market, weak job numbers and increased debt among U.S. borrowers might cause Ford to slow production down in the fourth quarter to avoid excess inventory, a problem that plagued Chrysler last year around this time.
The adjustments are a last resort, and according to Ford, it's currently on track to meet its goals as long as things stay stable. Nevertheless, you can bet Fields has his fingers crossed.
[Source: Wall Street Journal]
Reader Comments (Page 1 of 1)
jas12niss 5:30PM (9/18/2007)
Ford, should take a lesson from "GM" and listen to their NA consumers, that quote mean's give us imported europe ford models.
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whofan 7:59PM (9/18/2007)
Throw a few Austrailan models in there too.
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Don 8:39PM (9/18/2007)
You suck, Fields!
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Barney 9:45PM (9/18/2007)
Over-production can be very costly as Chrysler can tell you. Field is on the right track and maybe the last quarter of this year could be practiced the first quarter, next year. People who are not buying, are not buying from anyone.
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David 9:51PM (9/18/2007)
Fields reminds me of any of the "Baldwins". He cleans up well but is totally vapid and without "car guy" blood running through his veins, he is running ford into bankruptcy. Remember the ford bold moves online episodes.... well anyone that would put the inner workings of the crappiest car company on the planet is a moron. I remember one of the episodes had everyone just beating ford up. They actually put this online for what purpose? It makes me want to run to the honda/toyota/nissan dealership.
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Miraa 11:51PM (9/18/2007)
Had to comment on "the Mullet". Hilarious.
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Will 11:46PM (9/18/2007)
well, the federal reserve just cut rates today, and the short term looks good, but the long term is as shaky as ever.
I have my fingers crossed too.
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