Autoblog

Mulally and Whitacre gab on phone, what was said?

John Neff — Fri, 11 Dec 2009 14:29:00 EST

Filed under: Ford, GM, Humor

Word has it that Ford CEO Alan Mulally and the new interim CEO of General Motors, Ed Whitacre, had a phone conversation this week. This type of across-the-aisle conversation is not unusual, as Mulally himself placed a call to each of his competitors when he arrived in D-town from Boeing three years ago.

We weren't on the call ourselves and neither CEO has divulged any details of their conversation, so we're left to just guess at what was said. Considering Mulally's success at Ford so far and the quagmire into which Whitacre is stepping at GM, we think it may have went something like this.

Whitacre: Hi Alan, nice to finally talk. I feel like you and I have something in common, being that we both come from companies outside the auto industry.

Mulally: I'm a busy guy, do we have to do this every time General Motors fires a CEO?

Whitacre: I'm very excited about taking GM forward into a bright future.

Mullally: The only thing bright around here is the glare off our Motor Trend Car of the Year award. You might want to draw a shade. Fusion FTW!

Whitacre: Congratulations on that. We're hoping to have a good showing for SUV of the Year.

Mulally: Good luck, I'm sure the Chevy Terrain SRX will do great. Lincoln MKT FTW!

Whitacre: Anyway, congrats on all your success at Ford and I look forward to working together on our shared interests.

Mulally: Just have the next CEO send me an email. The address is KingofKansaz321@ford.com.

[Source: Automotive News - Sub. Req. | Source Image: Bill Pugliano, Getty]

Mulally and Whitacre gab on phone, what was said? originally appeared on Autoblog on Fri, 11 Dec 2009 14:29:00 EST. Please see our terms for use of feeds.

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Who will succeed Mullaly at Ford? It's never too early to start handicapping

Chris Shunk — Thu, 26 Nov 2009 13:32:00 EST

Filed under: Hirings/Firings/Layoffs, Ford

When Alan Mulally arrived at Ford Motor Company three years ago, the Blue Oval was in bad shape. New product wasn't exactly pouring in and the company's cash hoard was steadily shrinking. And word on the street is that the corporate culture at Ford was in as much trouble as the product lineup, making change difficult. Now in 2009, it appears Mulally has done the near impossible, turning around Ford's product lineup while supposedly positively altering FoMoCo's corporate culture.

For all of Mulally's success, there is one problem: he's 64 and can't continue to run the company forever. And although Mulally has given no signals of separating from Ford any time soon, industry insiders are already speculating on who will become his successor. The four names that continue to come up are Ford Americas President Mark Fields, global marketing boss Jim Farley, manufacturing whiz Joe Heinrich and Ford Europe savior Lewis Booth.

The Detroit Free Press feels the early money is on Fields. The Harvard grad has been with Ford for 20 years, and he's lead some high profile success stories. He turned around Mazda and is currently piloting Ford North America in the midst of what appears to be a substantial product renaissance. Farley has an advantage in that he came to Ford from Toyota/Lexus and is seen by many as a real up and comer.

By many accounts, Heinrich is a bit of a manufacturing genius. The Harvard Business grad came from General Motors, where he became the company's youngest ever Plant Manager at age 29. Booth has the longest resume and arguably the most examples of success. He appears to have consistently met and exceeded expectations everywhere he has been, including Mazda, Ford Asia Pacific and Ford South Africa. Booth is different from his fellow executives in that he is the only one who isn't in his 40s.

We have no earthly idea who would become the next head of Ford, and we're guessing that we're at least a couple years away from finding out. We're OK with that, because this Mulally guy appears to know what he's doing.

[Source: Detroit Free Press | Photo by Bill Pugliano/Getty]

Who will succeed Mullaly at Ford? It's never too early to start handicapping originally appeared on Autoblog on Thu, 26 Nov 2009 13:32:00 EST. Please see our terms for use of feeds.

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REPORT: Stand-alone Lincoln-Mercury dealers being scaled out of existence

Michael Harley — Mon, 09 Nov 2009 18:59:00 EST

Filed under: Car Buying, Marketing/Advertising, Ford, Lincoln, Mercury

In 2006, Ford began to shrink its dealership network in order to more efficiently align its distribution network. Three years later, it appears that the hardest hit are the company's stand-alone Lincoln-Mercury dealerships. While there were 619 Lincoln-Mercury dealerships nationwide just a few years ago, the number had dwindled down to just 357 at the beginning of 2009.

Automotive News recently spoke with Ford CEO Alan Mulally about the future of the Lincoln brand and its stand-alone Lincoln-Mercury stores. While Ford's current strategy is pushing combo Ford-Lincoln-Mercury retailers, Mulally would not confirm that eliminating the stand-alone Lincoln-Mercury dealerships was the desired end result. When pushed on the question, Mulally reiterated that Ford was focusing on building a distribution network which allowed sales volume, product breadth, and profitability... qualities that are apparently better served by the Ford-Lincoln-Mercury store.

Mulally added that although these combo dealerships will be selling the Lincoln MKS on the same lot as the Ford Taurus (both vehicles share platforms and mechanicals), retailers will learn how to deliver the sales experience that fits the vehicle and differentiates the brand. Whether this concept works or whether car salesmen simply take the easy route and sell the less expensive Ford remains to be seen.

Either way, it has to be asked - is peeling away at the automaker's stand-alone LM dealers part of a larger plan to do away with Mercury altogether? Inquiring minds want to know...

[Source: Automotive News - Sub. Req. | Image: Stephen Brashear/Getty]

REPORT: Stand-alone Lincoln-Mercury dealers being scaled out of existence originally appeared on Autoblog on Mon, 09 Nov 2009 18:59:00 EST. Please see our terms for use of feeds.

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REPORT: Mullaly says global Ranger and Ka won't be offered in Ford's U.S. showrooms

Chris Shunk — Mon, 09 Nov 2009 11:29:00 EST

Filed under: Truck, Hatchback, Ford

Global Ford Ranger - Click above for high-res gallery

Ford has been working hard to integrate its product lineup on a global scale, but it appears that some models available overseas may never make it to U.S. shores. Ford CEO Alan Mulally has apparently told Automotive News that the Thai-built global Ranger and the A-Segment Ka likely won't be going on sale here in the States. Mulally had previously stated that both vehicles were under consideration for U.S. sale, but now the prognosis appears to be far more dire.

The global Ford Ranger is a far more modern entry-level pickup than its U.S. counterpart which is scheduled to cease production in 2011. While the future of the Ranger is looking pretty bleak here in the States, it appears there is some hope that the shelved F-100 project could once again be in Dearborn's plans. Pickuptrucks.com is reporting that its sources indicate that the F-100, which is a lighter, shorter version of the popular F-150, is still being considered. The F-100 is said to be bigger in all dimensions than the global Ranger.

While there is still hope for a smaller truck in the Blue Oval's arsenal of products, there doesn't appear to be any pulse at all for an A-Segment hatch. Mulally reportedly told AN that the Ka is just too small to be successful in America, adding "Fiesta is about the smallest vehicle that we think will be a real success in the United States." The tiny Ka, which shares hardware with the soon-to-be-sold in the U.S. Fiat 500, is a full 25 inches shorter than the Fiesta.

Gallery: Geneva 2009: 2010 Ford Ranger (EU)

Gallery: 2009 Ford Ka

[Sources: Automotive News - subs req'd; Pickuptrucks.com]

REPORT: Mullaly says global Ranger and Ka won't be offered in Ford's U.S. showrooms originally appeared on Autoblog on Mon, 09 Nov 2009 11:29:00 EST. Please see our terms for use of feeds.

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REPORT: Ford Kuga could come in Lincoln, Mercury flavors, replace Escape, be built in USA

Jonny Lieberman — Mon, 02 Nov 2009 19:00:00 EST

Filed under: Europe, Plants/Manufacturing, Crossover, Ford

Ford Kuga - Click above for high-res image gallery

How's this for an odd twist - Ford essentially kicked off the SUV craze with its Explorer, an embiggened four-door Ranger. And man, did we go crazy. Before the cheap-gas bubble burst, slightly more than half of all passenger vehicles sold here in America were SUVs. Just below the Explorer was and is Ford's little truck (which is no longer little) the Escape. And almost ten years later, the Escape pretty much looks like a body-on-frame SUV, even though people stopped associating SUVs with mud during George W Bush's first term.

So what if the next Escape looked more like the CUV that it actually is, and less like the SUV it isn't? And what if Lincoln got a version? Mercury too, though they already have the Mariner, a rebadged Escape. Also, what if the next escape was built here, but then badged as a Kuga and sold in Europe? According to CEO Alan Mulally and some other, more chatty Ford folks, it's all more than possible.

The latter is really interesting, and shows you just how far the dollar has fallen against the Euro. And it also shows you Ford's One Ford strategy at work - wherein starting very soon, most Ford cars are going to be global in nature. Aside from essential legal parts (like standard stability control in U.S. vehicles) the cars can be sold wherever. Built wherever, too. For instance, the Ford Fiesta, which will be coming to our shores next year, is Ford's best selling car in Europe and will soon be built only in Mexico and shipped both across the border and across the Atlantic.

Back to the Kuga, the plan is to begin building the Kuga in Louisville, Kentucky in late 2011 for export to Europe. Sometime after that, the Kuga will replace the Escape and the Lincoln/Mercury editions. Moreover, this could be the start of a trend - Fords being built in the U.S. for export across the pond.

Gallery: First Drive: 2008 Ford Kuga

[Source: Automotive News sub-req]

REPORT: Ford Kuga could come in Lincoln, Mercury flavors, replace Escape, be built in USA originally appeared on Autoblog on Mon, 02 Nov 2009 19:00:00 EST. Please see our terms for use of feeds.

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Ford introduces new Figo hatchback for India's burgeoning B-segment

Chris Paukert — Wed, 23 Sep 2009 09:29:00 EST

Filed under: Budget, Hatchback, Ford, India

2010 Ford Figo - Click above for high-res image gallery

You could be forgiven for thinking that Ford is starting to get a nicely thick global portfolio of B-segment cars, but with the class of vehicles picking up steam worldwide, the Blue Oval is keen to become an even bigger player - particularly in fast emerging markets like India. As such, Ford president and CEO Alan Mullaly found himself in Delhi today to unveil the company's new Figo hatchback.

With over 70% of the country's car sales falling into the B-segment, having more than just the Ikon and a market-specific version of the Fiesta and Fusion crossover in its quiver should help the Blue Oval take a bigger chunk of the market. Ford isn't releasing hard details (powertrains, platform, etc.) for the Figo yet, but it's quite clear that it fits in the existing family well, with many styling touches that remind us of the European (and soon to be U.S.) Fiesta, albeit with a more traditional upright bent - rather like the previous Fiesta, matter-of-fact.

Ford has just poured $500 million into updating and expanding its manufacturing plant near Chennai to build the Figo (which is apparently an Italian colloquialism for "cool"), and the facility has a production capacity of some 200,000 units, some of which will likely be exported when the line is up to speed (although the Figo is not expected to make any appearances Stateside). Click on the jump for further details after you check out the high-res gallery below.

Gallery: 2010 Ford Figo

[Source: Ford]

Continue reading Ford introduces new Figo hatchback for India's burgeoning B-segment

Ford introduces new Figo hatchback for India's burgeoning B-segment originally appeared on Autoblog on Wed, 23 Sep 2009 09:29:00 EST. Please see our terms for use of feeds.

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Ford CEO Alan Mulally to deliver opening keynote at 2010 CES

Sam Abuelsamid — Tue, 22 Sep 2009 08:01:00 EST

Filed under: Technology, Ford

Next January, Ford CEO Alan Mulally will make a return trip to Las Vegas to deliver a keynote address to the Consumer Electronics Show (CES). Gary Shapiro, president of the Consumer Electronics Association and (apparently) the 16th most influential person in the tech industry, made the announcement at Ford's Dearborn Development Center.

This marks the third year in a row that a Detroit CEO keynotes the world's biggest gadget and gear show. Former GM CEO Rick Wagoner spoke at the 2008 show with Mulally taking the podium in 2009. However, 2010 marks the first time someone from the auto industry delivers the opening address. Mulally will speak at 8:30am on January 7, 2010 at the Hilton theater and he will apparently announce some new features for Ford's popular Sync system. Get all the details in the press release below the fold.

[Source: Ford]

Continue reading Ford CEO Alan Mulally to deliver opening keynote at 2010 CES

Ford CEO Alan Mulally to deliver opening keynote at 2010 CES originally appeared on Autoblog on Tue, 22 Sep 2009 08:01:00 EST. Please see our terms for use of feeds.

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New Ford models cut automaker's lineup age by 2.4 years?

Chris Shunk — Fri, 24 Jul 2009 18:32:00 EST

Filed under: Ford

2010 Ford Taurus - Click above for a high-res image gallery

Ford is launching ten new or redesigned vehicles this year, bringing its line-up age down to a scant 2.4 years, according to a Merrill Lynch report. Product Chief Derrick Kuzak told the Free Press that the goal is to keep the product lineup fresh, and the Blue Oval is getting the job done with fewer models and vehicle platforms.

Back in 2004, Ford had 92 vehicles in its product lineup, and that number was dropped to 59 by 2008. Ford also cut platforms from 27 to 16 during that time frame, slicing engineering costs by a whopping 60% as a result.

Ford intends to keep up the accelerated pace of vehicle launches in 2010 with the introduction of the new Fiesta, a global Focus, the Transit Connect electric, a heavily updated Super Duty pickup lineup, and an all-new unibody Explorer. Autoconomy analyst Erich Merkle reportedly told the Free Press that the Blue Oval has "a tidal wave of new product" planned for the next 18 months.

Citibank analyst Itay Michaeli is reportedly questioning whether Ford can keep up this frenetic pace of vehicle launches as the automaker continues to lose money. Analysts were expecting Ford to lose about 53 cents per share in the second quarter, after burning through $3.7 billion in cash in Q1, but the company surprised many by losing only 21 cents per share on continuing operations. Ford CEO Alan Mulally says the company has the money to execute it's plan.

Gallery: First Drive: 2010 Ford Taurus

[Source: Free Press, CNN Money]

New Ford models cut automaker's lineup age by 2.4 years? originally appeared on Autoblog on Fri, 24 Jul 2009 18:32:00 EST. Please see our terms for use of feeds.

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Mulally: Ford boosting production to meet demand

Jeremy Korzeniewski — Sat, 27 Jun 2009 14:09:00 EST

Filed under: Plants/Manufacturing, Ford, Earnings/Financials

2010 Ford Taurus - Click above for high-res image gallery

More good news comes from the Blue Oval camp today as Ford CEO Alan Mulally has said that the automaker plans to "[increase] production to support the desirability of Ford products." Despite a downturn in new car sales, Ford - the only member of the Detroit 3 automakers that has not filed for bankruptcy protection in the last two months - has actually managed to gain a few ever-important percentage points of market share from its global rivals, including fellow American automakers General Motors and Chrysler.

In related news, Mulally says that Ford is well on its way to returning to profitability in 2011 as planned. Last year, Ford recorded its worst-ever loss of $14.8 billion and expects to continue posting smaller losses through 2009 and 2010, but Mulally is confident the company has sufficient funds on hand to finance the turnaround plan made possible by the $23 billion the automaker raised in 2006 shortly before the global economy hit the panic button.

A major portion of Ford's turnaround plan is based on "more and more electrification, both hybrids and battery electric vehicles," said Mulally, which is consistent with stated goals set out by the Obama Administration. Earlier this week, Ford accepted $5.9 billion in U.S. Department of Energy loans to retool factories to build more environmentally friendly cars and trucks.

Gallery: 2010 Ford Taurus

[Source: Automotive News - sub. req'd]

Mulally: Ford boosting production to meet demand originally appeared on Autoblog on Sat, 27 Jun 2009 14:09:00 EST. Please see our terms for use of feeds.

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Survey: Ford's image gets a boost by nixing federal aid

Alex Nunez — Fri, 01 May 2009 19:02:00 EST

Filed under: Government/Legal, Ford

In what has to be one of the least surprising developments related to the auto industry, a newly-released survey finds that Americans' favorable view of Ford Motor Company has increased substantially since it became the sole member of the Detroit Three to abstain from taking federal funds.

Before the Capitol Hill Bailout Bonanza got going in earnest late last year, just 41% of Americans held the Blue Oval in a positive light. Now, after billions of taxpayer dollars have been spent keeping now-bankrupt Chrysler and soon-to-be (in all likelihood) bankrupt General Motors in business, FoMoCo's positive number has jumped up to 63%, according to a survey conducted by the Aloft Group last week.

However, that's not to say that those surveyed believe Ford's out of the woods: a mere 24 percent of the respondents think Ford doesn't need Uncle Sam to come to the rescue. Still, Ford's decision to mortgage everything on its own in a bid to stay alive has been a big PR success, and you can bet that Alan Mulally will instruct staffers to burn all the office furniture in Dearborn this winter before he looks to Capitol Hill for a penny in bailout dollars. In Detroit right now, the Scarlet Letter is "B."

[Source: The Detroit News]

Survey: Ford's image gets a boost by nixing federal aid originally appeared on Autoblog on Fri, 01 May 2009 19:02:00 EST. Please see our terms for use of feeds.

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Ford celebrates 45 years of the Mustang at Barber Motorsports Park

Chris Tutor — Mon, 20 Apr 2009 08:28:00 EST

Filed under: Motorsports, Performance, Ford, Shelby

It's been 45 years since Ford introduced the Mustang, and the Blue Oval chose Barber Motorsports Park in Birmingham, AL as ground zero for the big pony car celebration. Track officials estimated more than 38,000 people came out to see about 2,000 Mustangs on display from 15 different countries, and Autoblog was among the revelers.

The Mustang Club of France showed up with a dozen or so 2010 Mustangs they'd rented, Steve Saleen was signing autographs, Ford CEO Alan Mulally made a surprise appearance and the Ford Racing Mustang Challenge had two rounds of competition. There were fully-restored, low-mileage Mustangs trailered in from as far away as California and one dirt-encrusted, 1966 GT350H brought in straight from its 29-year stint in an Alabama shed. All three levels of the track's paddock area were full of Ford's iconic muscle car, as were the grassy fields normally reserved spectator parking.

When the track wasn't being used for racing, vintage and late-model Mustang owners got the chance to see what their cars could really do. The distinctive whine of Roush superchargers melded with bassy roars of 40-year-old small-blocks for a pulse-quickening aural collage, providing a singular soundtrack for the event.

Looming clouds began to gather on Saturday afternoon, but only a few sprinkles had fallen by mid-day Sunday. For the most part, temperatures in the upper 60s made walking around the landscaped track a truly memorable experience.

Happy Birthday, Mustang. Here's looking forward to another forty five!

Gallery: Ford celebrates 45 years of Mustangs

Ford celebrates 45 years of the Mustang at Barber Motorsports Park originally appeared on Autoblog on Mon, 20 Apr 2009 08:28:00 EST. Please see our terms for use of feeds.

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Mulally on Ford: "We are competitive now."

Jonathon Ramsey — Mon, 30 Mar 2009 19:28:00 EST

Filed under: Ford, Earnings/Financials

If we were cynics, we could say that Ford just happened to get stuck in deep doo-doo when America's credit markets were still reasonably flexible. When Ford leveraged all of its assets, right down to its logo, the most difficult part was probably not getting the money, it was probably swallowing its Blue Oval pride. Yet cynics or not, a CEO has to know what to do with said money, and Alan Mulally feels he and his company have done well enough to proclaim "We are competitive now" in a new interview with The Detroit News.

For starters, Ford managed to get the UAW to concede more ground and rework agreements. Unlike GM's present situation, Ford's bondholders didn't keep shaking their heads when Ford needed to exchange debt for equity, permitting Dearborn to reduce its debt liability by nearly 33%. Ford (finally!) began showering its European design flair and cars on an American public thirsting for beautiful domestic offerings. And Ford has cut production to match demand. The result: there are 32% fewer cars on dealer lots than a year ago.

Mulally says that Ford has prepared well enough that it won't need to take taxpayer money unless things get decidedly worse, but he doesn't believe that will happen. Although he believes that Ford can't turn itself fully around until the economy does, he did say, "The downturn is a temporary thing. We just have to make it through it."

[Source: Detroit News]

Mulally on Ford: "We are competitive now." originally appeared on Autoblog on Mon, 30 Mar 2009 19:28:00 EST. Please see our terms for use of feeds.

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Ford CEO Mulally gets 37% pay cut; Gephardt, Earley appointed to board

Chris Paukert — Wed, 25 Mar 2009 15:57:00 EST

Filed under: Hirings/Firings/Layoffs, Ford, Earnings/Financials

Ford's CEO Alan Mulally took hope a tidy $13.57 million compensation package for his work in 2008, While that's a handsome sum, it represents a 37 percent cut of the $21.67 million he took home in 2007 - and that's before the ex-Boeing exec takes an additional 30 percent haircut for 2009. By comparison, General Motors' CEO Rick Wagoner and Chrysler's Bob Nardelli are slated to have salaries of $1 each, although both automakers have already received $17.4 billion in federal loans.

In addition, Automotive News reports that the company will abolish merit raises for salaried workers in the U.S. (and in most of its global ops), kill off a worldwide incentive compensation program for 2008 and newer employees, and give no compensation to board members for 2009.

In related news that's causing a bit of consternation, AN is reporting that Mulally and executive chairman Bill Ford will continue to use corporate jets for business and private travel. The flights will be chartered planes, as Ford put its own fleet of private aircraft up for sale some time ago after being chided by politicians during the bailout hearings on Capitol Hill.

Speaking of which, Ford also has some news on that front, as well. The Wall Street Journal reports that House Majority Leader Richard "Dick" Gephardt has now found a seat on the Blue Oval's board, as has Anthony Earley, chairman and CEO of DTE Energy Co. The two bigwigs replace seats vacated by members who reportedly no longer have the necessary time to serve.

[Sources: Automotive News - subs. req.; Wall Street Journal | Image: AFP/Getty]

Ford CEO Mulally gets 37% pay cut; Gephardt, Earley appointed to board originally appeared on Autoblog on Wed, 25 Mar 2009 15:57:00 EST. Please see our terms for use of feeds.

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Mullaly awarded option to buy 5 million shares of Ford stock

Chris Shunk — Tue, 17 Mar 2009 07:59:00 EST

Filed under: Ford

When Ford Motor Company CEO Alan Mulally joined team Ford back in 2006, Blue Oval stocks were trading at $8.36 per share. But a very bad recession and an especially hard hit auto market have torpedoed Ford shares to their lowest levels in decades. With stocks hovering around the Mendoza line, Mulally has the opportunity to make some real coin, as he's been awarded the option to purchase five million shares of common Ford stock.

The shares, should Mulally decide to buy, would be offered at $1.96 each. The shares are already valued at $2.19 each, but Mulally wouldn't be able to cash out his stock options like a traditional share. He would be eligible to cash in one third of the stocks after one year, two thirds after two years, and all the stocks after three. If Mulally makes good on his plan to turn the company around, the stock value could skyrocket in the meantime. That would help Mulally make up some of his 30% pay cut in 2009.

[Source: Automotive News, sub. req'd | Photo by ROBYN BECK/AFP/Getty]

Mullaly awarded option to buy 5 million shares of Ford stock originally appeared on Autoblog on Tue, 17 Mar 2009 07:59:00 EST. Please see our terms for use of feeds.

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Ford CEO Mullaly expects "major portion" of Fords will be electric within a decade

Sam Abuelsamid — Thu, 05 Mar 2009 16:29:00 EST

Filed under: Green, Ford

Click above for high-res gallery of the Ford Focus EV "mule"

Ford may have been relatively quiet on the electric vehicle front while General Motors got all the attention for its Chevy Volt series hybrid, but the Blue Oval has come roaring back in recent months. It was revealed in its viability plan submitted to Congress back in December that an electric commercial van would be launched just one year from now followed by an electric car the next year. According to CEO Alan Mulally, that's just the start. At a conference in California this week, Mulally declared, "In 10 years, 12 years, you are going to see a major portion of our portfolio move to electric vehicles." Mulally told the conference that internal combustion efficiency will also improve dramatically over the next decade, and more hybrids will join the lineup including a plug-in hybrid that will debut in 2012.

Ford is shifting a significant proportion of its truck building capacity to cars over the next two years and the company doesn't expect truck sales to recover to their previous record heights. While fuel prices are low now, they are expected to climb again as the economy recovers. The shifts to cars and more hybrid and electric vehicles will be necessary to meet both market demands created by those expected higher fuel prices and government mandates for higher fuel efficiency.

Gallery: ABG Quick Drive: Ford Focus EV mule

Photos Copyright (C)2009 Sam Abuelsamid / Weblogs, Inc.

[Source: Automotive News, sub. req'd]

Ford CEO Mullaly expects "major portion" of Fords will be electric within a decade originally appeared on Autoblog on Thu, 05 Mar 2009 16:29:00 EST. Please see our terms for use of feeds.

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Bill Ford and Alan Mullaly vow to take 30% pay cuts

Michael Harley — Wed, 25 Feb 2009 10:29:00 EST

Filed under: Ford, Earnings/Financials, UAW/Unions

The day after Ford and the UAW reached a tentative retiree health care deal (General Motors and Chrysler are still negotiating), the leaders of the Dearborn, Michigan, automaker have announced that they will be taking a 30 percent reduction in salaries over the next two years. A memo, signed by Ford Executive Chairman William Ford Jr. and Chief Executive Alan Mulally, addresses the pay cuts and adds that Ford's board of directors will also drop their compensation for the same period of time. In addition, performance bonuses for salaried workers and senior executives will also disappear.

As reiterated in the memo, Ford and Mulally are not wavering from their plan to go without government assistance and these recent announcements support that strategy. "We know these are challenging times and we all are affected by the tough actions we are taking... However, these are necessary actions to help us emerge as an even stronger, profitably growing Ford Motor Company for the benefit of us all." Thanks for the tip Adam!

[Source: WSJ.com | Image: Bill Pugliano/Getty]

Bill Ford and Alan Mullaly vow to take 30% pay cuts originally appeared on Autoblog on Wed, 25 Feb 2009 10:29:00 EST. Please see our terms for use of feeds.

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Mullaly rings man who chooses Ford Fusion Hybrid over Toyota Prius

Jeremy Korzeniewski — Tue, 03 Feb 2009 14:18:00 EST

Filed under: Hybrid, Sedan, Ford

When applicants were first being interviewed to replace Bill Ford as the top man in the Blue Oval Office, we wonder what exactly the process included. It turns out that in addition to being a pretty good salesman, Alan Mulally is also adept at making house calls. The FoMoCo CEO personally phoned Michael Snapper, a lawyer hailing from Grand Rapids, Michigan, to thank him for purchasing a Ford Fusion Hybrid over a Toyota Prius.

To put this into perspective, could you imagine getting a personal call from Honda's Takeo Fukui, personally thanking you for purchasing a Honda over a Harley? Or from Steve Jobs, congratulating you for choosing an iPod in lieu of a Zune? Ridiculous, no?

If this seems like nothing more than a publicity stunt, well, it's exactly that. Regardless, Ford is a company that can use all the positive pub it can get right now, and a phone call from the very top of the company symbolically sets an example that customer service is among the highest of priorities for the automaker - from the top down.

Gallery: 2010 Ford Fusion Hybrid

Gallery: First Drive: 2010 Ford Fusion Hybrid

[Source: Detroit News]

Mullaly rings man who chooses Ford Fusion Hybrid over Toyota Prius originally appeared on Autoblog on Tue, 03 Feb 2009 14:18:00 EST. Please see our terms for use of feeds.

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Mulally: Car Czar should keep hands off product decisions

Jeremy Korzeniewski — Wed, 14 Jan 2009 08:56:00 EST

Filed under: Government/Legal, Ford

Now that General Motors and Chrysler have accepted Federal assistance in the form of low-interest bridge loans, the two companies may not have many choices available to them if a Fed-appointed individual were to make product recommendations to senior management. In fact, that's exactly what the so-called car czar would likely do, under the guise of keeping an eye on the interests of the taxpayers who funded the automakers' revival. Ford, though, has not accepted any assistance yet, and it hopes not to.

Recent comments made by CEO Alan Mulally may offer a glimpse as to why the Blue Oval's so hesitant to take a handout. After expressing that he's looking forward to working with the incoming Obama administration, Ford's CEO said, "My god, I hope that a car czar does not get into the product strategy of the companies," specifically referring to whether the car czar should decide who makes police cars and taxis. Hopefully, whoever is appointed to the position (if anybody is at all) would have abundant experience in the American automotive world, lest something really bad should happen.

[Source: Automotive News - sub. req'd]

Mulally: Car Czar should keep hands off product decisions originally appeared on Autoblog on Wed, 14 Jan 2009 08:56:00 EST. Please see our terms for use of feeds.

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One down, one to go: Detroit 3 CEOs begin House testimony

John Neff — Fri, 05 Dec 2008 10:49:00 EST

Filed under: Government/Legal, Chrysler, Ford, GM

Having watched each of the Detroit 3 CEOs take tough questions from the Senate Banking Committee for six hours yesterday, we've returned to the couch today to watch General Motors CEO Rick Wagoner, Ford CEO Alan Mulally, Chrysler CEO Bob Nardelli and Ron Gettelfinger, President of the United Auto Workers union, visit House members of the Financial Services Committee led by Rep. Barney Frank (D-Massachusetts).

We were actually surprised at how well yesterday's hearings went for the Detroit 3. There was far less grand standing by politicians this time around, due largely in part to the lesson learned by each CEO after that whole private jet fiasco. A couple of yesterday's creative solutions for the mess in Motown included a "pre-packaged bankruptcy" in which financing for restructuring would be secured beforehand, as well as a renewed interest in seeing GM and Chrysler follow through on their erstwhile attempt to merge a few months ago. Since Ford's position is more secure than that of GM and Chrysler, Alan Mulally looked bored most of the day, while his colleague Bob Nardelli got the grilling of a lifetime. Senators seemed particularly interested in why Chrysler's owner, the private equity firm Cerberus, couldn't just infuse the Auburn Hills-based automaker with more money.

While senators yesterday seemed to take the situation much more seriously this time around, we've just finished watching opening statements made by members of the House of Representatives in the Financial Services Committee and were less than impressed. It appears the soap boxes are out and spot lights are on.

[Photo by Chip Somodevilla/Getty]

One down, one to go: Detroit 3 CEOs begin House testimony originally appeared on Autoblog on Fri, 05 Dec 2008 10:49:00 EST. Please see our terms for use of feeds.

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Wagoner arrives for Senate hearing in Volt mule

John Neff — Thu, 04 Dec 2008 10:29:00 EST

Filed under: Government/Legal, Chrysler, Ford, GM

General Motors CEO Rick Wagoner has arrived in Washington to deliver testimony at Senate hearings scheduled for today and tomorrow, and as we reported late yesterday, his transportation this time was not a private jet, but rather a series hybrid Chevy Volt mule in the body of a Chevy Cruze. Ford CEO Alan Mulally also ditched his private plane for a ride down to DC in a Ford Escape Hybrid, while Chrysler CEO Bob Nardelli made the trip in a Chrysler Aspen Hybrid. UAW President Ron Gettelfinger flew down, but on a commercial flight (he never had a private jet in the first place and it likely would've been awkward if he chose one automaker's vehicle over the other two).

Testimony will be given by the four men and a number of other witnesses today and tomorrow, though it still appears as if there aren't enough votes in the Senate to get federal aid for the automakers passed immediately. Even if aid in the form of government loans is approved, there's still the matter of where the money will come from. The only two options on the table are converting $25 billion in already approved loans for investment in green technology to be used by the automakers to keep their businesses afloat, or carving out the money from the $700 billion in aid that Congress has already approved for the financial industry. We'll be keeping an eye on what's happening in Washington today and tomorrow, so stay tuned.

[Photo by Win McNamee/Getty]

Wagoner arrives for Senate hearing in Volt mule originally appeared on Autoblog on Thu, 04 Dec 2008 10:29:00 EST. Please see our terms for use of feeds.

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