Autoblog

Fiat boss Elkann being mentored by... Bill Ford?

Zach Bowman — Tue, 26 Mar 2013 14:31:00 EST

Fiat Chairman John Elkann has been turning to an unusual source for advice on the car business. While speaking during an interview with The Detroit News, Elkann said he often asks Bill Ford Jr. for advice on how to proceed with the turnaround at Chrysler. "It's great to have the opportunity to share this with someone like Bill, who has experienced many things and gone through many things ... especially linked to Detroit." Elkann said.

As the Agnelli family heir, Elkann has inherited a long and fruitful friendship with the Ford family. While Giovanni Agnelli built his first Fiat four years before Henry Ford created his first vehicle, it was Ford that showed Agnelli the benefits of mass production and helped pave the way for what would become the Fiat empire.

Giovanni's grandson, Gianni, helped mentor Bill Ford when he was elected chairman of Ford Motor Company. Now, Ford is returning the favor by helping Elkann navigate the automotive industry's tumultuous waters.

"I have a lot of admiration for how Bill handled things," Elkann said. "He's been very candid and I'm very curious by nature, so being able to listen to real-life experience ... is very valuable."

Fiat boss Elkann being mentored by... Bill Ford? originally appeared on Autoblog on Tue, 26 Mar 2013 14:31:00 EST. Please see our terms for use of feeds.

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Bill Ford Jr. brings oldest surviving Ford back into family fold

Zach Bowman — Sat, 15 Dec 2012 08:00:00 EST

Filed under: Classics, Ford, Specialty

We're quickly approaching the 150th anniversary of Henry Ford's birth, and the company he founded is celebrating in a number of ways. Great-grandson Bill Ford Jr. did his part by purchasing the oldest known Ford vehicle, a 1903 Model A, and returning it to its birthplace.

While the Model A was purchased at auction back in October, the red Rear Entry Tonneau just recently received an official unveil at an employee event. Ford partnered with the MotorCities National Heritage Area and the Henry Ford Heritage Association to create a year-long calendar of events celebrating Henry Ford and his company.

This particular Model A is car number 3, chassis number 30. Prior to rejoining the Ford family, it had enjoyed just five owners in its 109-year history. Originally sold to a butter maker from Iowa for the princely sum of $850, the Model A was sold to a Swiss Ford dealer in 1961. The dealer displayed his purchase in the Ford European Center in Cologne, Germany until 2001, when it was finally sold to John O'Quinn in 2007 before Ford Jr. took possession this year.

Check out the both press releases below, along with a full schedule of the planned celebrations. You can also head to the anniversary mini site for more news.

Continue reading Bill Ford Jr. brings oldest surviving Ford back into family fold

Bill Ford Jr. brings oldest surviving Ford back into family fold originally appeared on Autoblog on Sat, 15 Dec 2012 08:00:00 EST. Please see our terms for use of feeds.

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Book: Ghosn would've taken top spot at Ford, but only if named CEO and Chairman

Jeff Sabatini — Mon, 12 Mar 2012 13:30:00 EST

Filed under: Etc., Hirings/Firings/Layoffs, Ford

With just a day until Bryce Hoffman's American Icon: Alan Mulally and the Fight to Save Ford Motor Company is released, more revelations from the book are hitting the headlines. Among the juiciest: Nissan-Renault chief Carlos Ghosn was offered the top job at Ford prior to Alan Mulally, but turned it down because he didn't want to work for then-CEO Bill Ford.

According to excerpt from the book published by Automotive News, Ford made Ghosn a formal offer in early 2006, but Le Cost Cutter insisted the only way he would come to Ford was if he was named both the CEO and chairman of the board. When Mulally was eventually hired as CEO, Bill Ford stepped aside but retained his position as chairman of the company that shares his surname.

Despite Bill Ford's power at the company that bears his family's name, other excerpts from the book reveals that he didn't always get the straight scoop from other executives. One soon-to-be-famous example concerns the second-generation Ford Focus, which went on sale in Europe in late 2004. Just as most journalists did at the time, Bill Ford wanted to know why the new model wasn't coming to North America. According to the excerpt, then-president Jim Padilla gave his boss a PR-spin-worthy line about "product cycles [that] don't line up."

Ford was unpleased with the explanation, according to the report: "This is all a bunch of [expletive], he fumed as he left the meeting. Nobody will give me a straight answer."

Book: Ghosn would've taken top spot at Ford, but only if named CEO and Chairman originally appeared on Autoblog on Mon, 12 Mar 2012 13:30:00 EST. Please see our terms for use of feeds.

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Bill Ford editorial sings praises of electric car, information technology

Dan Roth — Thu, 19 May 2011 16:29:00 EST

Filed under: Hybrid, Etc., Ford, Electric

As for why Bill Ford is such a technology booster, he himself points at the price of oil.

Ford Motor Company may be one of the world's oldest automakers, but that doesn't mean it's stuck in the past. William Clay Ford Jr., 54-year-old Executive Chairman of the Ford Board of Directors and great grandson of company founder Henry Ford, has penned a forward-looking editorial for Fortune that shows there's innovative ideas at Ford from the top down. "For the first time in more than a century, some of the most fundamental and enduring elements of the automobile are being radically transformed," says Ford, who then goes on to tout the upcoming all-electric Focus and PHEV and electric iterations of the C-MAX five-seater.

It's easy (relatively speaking) to toss some hybrid drivetrain into a vehicle and call it day on offering green vehicles, but that's not the end of Bill Ford's story. Mr. Ford also talks about energy savings to be had by making vehicles more aware of each other using WiFi and GPS to help reduce both fuel consumption and traffic accidents. With its commitment to electrification, Ford notes that infrastructure pieces like a smarter electrical grid and charging stations need to be in place to make electric vehicles a reality. Continue Reading...

Continue reading Bill Ford editorial sings praises of electric car, information technology

Bill Ford editorial sings praises of electric car, information technology originally appeared on Autoblog on Thu, 19 May 2011 16:29:00 EST. Please see our terms for use of feeds.

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Ford discloses exec salaries, Mulally package worth over $26M

Chris Shunk — Fri, 01 Apr 2011 16:32:00 EST

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

Ford had a very good financial year in 2010, with the company's second consecutive year-over-year market share increase and a net profit of $6.6 billion. Those sparkling stats made Ford's stock jump, with 68 percent in total gains for the year. And when stock prices soar, so do the executives' compensation.

The Blue Oval filed its annual proxy with the U.S. Securities and Exchange Commission, and the fine print reveals some very happy executives. At the top, CEO Alan Mulally scored $1.4 million in salary, as well as $9.45 million in cash bonuses. Not a bad take-home, but the big cash comes after adding in long-term stock options, which brings the total to $26,520,515. If ever an auto exec were worth $26 million, Mulally is it.

Ford Chairman Bill Ford, Jr., didn't do so bad, either. Ford's $1.4 million salary and $2.7 million bonus is overshadowed by long-term stock options that balloon the total to $26,460,998. Ford's numbers are a bit misleading since the chairman opted not to take any compensation until the company was solidly profitable.

Mark Fields, President of Ford Americas, took in $8.8 million in total compensation, followed by CFO Lewis Booth at $8.2 million and manufacturing and labor boss John Fleming at a mere $5.9 million. If you're counting at home, the top six reaped a total of $75 million in compensation in 2010. Now that's a good year, folks. Hit the jump to read over Ford's cash-stuffed press release.

[Source: Ford | Image: AP Photo/J. Scott Applewhite]

Continue reading Ford discloses exec salaries, Mulally package worth over $26M

Ford discloses exec salaries, Mulally package worth over $26M originally appeared on Autoblog on Fri, 01 Apr 2011 16:32:00 EST. Please see our terms for use of feeds.

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Democrats and Republicans agree on higher gas taxes, just not in public all the time

David Kiley — Fri, 03 Dec 2010 16:30:00 EST

Filed under: Government/Legal

Senator Alan Simpson (left) and Erskine Bowles (right), Co-Chairman of the Deficit Reduction Commission

There is a sport in Washington D.C. that comes around like deer season every year: the gas tax debate. And stepping into the clearing this week with brown overcoats and deer antler hats are some former legislators and government officials - none of whom have to run for office - who are recommending a 15-cent additional federal gas tax starting in 2013 to help trim the federal budget deficit.

This measure has about as much chance of getting through the new Congress as a proclamation that would make Earth Day a national bank holiday. Still, given the fact that the Feds have laid a claim to my nine-year old son's unborn children's piggybanks, it's worth a few minutes to air out the subject.

The co-chairman of the bipartisan deficit reduction commission, former Clinton Administration official Erskine Bowles and former Republican Senator Alan Simpson, have called for a sweeping set of reforms in the way of taxes, spending cuts and elimination of a myriad of tax credits and deductions to which we have grown accustomed - mortgage interest for one.
The 15-cent per gallon hike in Federal gas taxes is paltry by European standards, but would be used specifically for transportation infrastructure improvement: roads, bridges, etc.

Continue reading...

Continue reading Democrats and Republicans agree on higher gas taxes, just not in public all the time

Democrats and Republicans agree on higher gas taxes, just not in public all the time originally appeared on Autoblog on Fri, 03 Dec 2010 16:30:00 EST. Please see our terms for use of feeds.

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Report: Bill Ford admits Blue Oval may lose investors to GM IPO, seems unconcerned

Zach Bowman — Fri, 20 Aug 2010 17:29:00 EST

Filed under: Ford, GM, Earnings/Financials

Bill Ford, executive officer for Ford Motor Co., seems to be taking a fairly realistic stance when it comes to arch-rival General Motors releasing its IPO. While speaking at the kickoff of this weekend's Woodward Dream Cruise, Ford said that he was certain that some of his company's investors would likely move to GM, but he isn't entirely concerned. Even though Ford stock has slid off from its 52-week high of $14.57 recently, the company's executive officer said that he doesn't spend his time fretting over stock prices, preferring instead to worry about steering the company in the best direction possible.

This week, GM filed paperwork to issue an IPO, thought to be one of the largest offerings in America's history. Until then, Ford had enjoyed the privilege of being the only publicly-traded domestic auto manufacturer after both GM and Chrysler filed bankruptcy in 2009. With a new kid on the block, odds are some money is bound to move toward The General and away from FoMoCo.

[Source: Bloomberg, The Detroit Free Press | Image: Scott Olson/Getty Images]

Report: Bill Ford admits Blue Oval may lose investors to GM IPO, seems unconcerned originally appeared on Autoblog on Fri, 20 Aug 2010 17:29:00 EST. Please see our terms for use of feeds.

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Report: After five-year wage freeze, Bill Ford to draw a paycheck

Jonathon Ramsey — Mon, 09 Aug 2010 08:56:00 EST

Filed under: Etc., Ford, Earnings/Financials

Bill Ford made the sacrifice, now he's earned the reward. After living sans salary from Ford for five years, Bill is due to receive $4 million in cash and up to $12 million in stock options. That doesn't cover the entire five years, but rather the last two - it's what he would have made from 2008 to now. Ford made his pledge before the downturn and couldn't have known he'd go five years before "sustainable profitability" was achieved, so the compensation committee backdated his pay to January 1, 2008.

"Sacrifice," in this case, might be a relative term, but still, we give the man full credit for stepping aside and waiting until real money was coming in. Some of his earninsg will go toward repaying loans he took out to buy Ford stock when the chips were down, and another million is going to set up a college scholarship for the children of Ford workers.

[Source: Detroit News | Image: Scott Olson/Getty Images]

Report: After five-year wage freeze, Bill Ford to draw a paycheck originally appeared on Autoblog on Mon, 09 Aug 2010 08:56:00 EST. Please see our terms for use of feeds.

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The DetroitBureau.com on Autoblog with Paul Eisenstein

Paul Eisenstein — Tue, 27 Apr 2010 15:59:00 EST

Filed under: Hirings/Firings/Layoffs, GM, Celebrities

Where have all the mavericks gone?

When he hands in his office keys a few days from now, General Motors Vice Chairman Bob Lutz will begin an oft-delayed retirement that was originally set to begin shortly after the ill-fated "merger of equals" between Daimler and Chrysler.

His decision to rejoin the automotive workforce a few years later wasn't all that much of a surprise to those who knew the former Marine pilot and what quite literally could be called his driving ambition. That leads many to suspect we'll continue to hear from Lutz, even though he bluntly wonders, "Who would hire a senior executive who's nearly 80 years old?"

Finally, it seems, this old soldier really may fade away, taking on a book assignment and a board seat or two. And, in the process, Lutz's departure will bring with it a different sort of change in the auto industry, the departure of the last classic automotive maverick.

Pull out a pen and jot down the names of the best-known auto industry executives. Your list might include Billy Ford or Alan Mulally, Ed Whitacre or even Carlos Ghosn, if you're taking the global view. Despite their prominence, even their willingness to take risks, these aren't exactly the sort of mavericks and eccentrics the industry was long known for.

That goes for Sergio Marchionne, the head of both Fiat and Chrysler. True, he's not your typical gray-flannel executive - he buys his trademark black sweaters "by the dozen," he jokes - and is clearly playing a high-risk poker game in his effort to turn around a desperately ill American automaker. But in the end, if someone eventually writes the Harvard Business Review analysis of the Canadian-educated executive, he'll still turn out to be another by-the-books strategist.

Paul A. Eisenstein is Publisher of TheDetroitBureau.com, and a 30-year veteran of the automotive beat. His editorials bring his unique perspective and deep understanding of the auto world to Autoblog readers on a regular basis.

Continue reading The DetroitBureau.com on Autoblog with Paul Eisenstein

The DetroitBureau.com on Autoblog with Paul Eisenstein originally appeared on Autoblog on Tue, 27 Apr 2010 15:59:00 EST. Please see our terms for use of feeds.

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Report: Bill Ford Jr. not likely to be CEO again, Mulally successor will be internal

Zach Bowman — Wed, 14 Apr 2010 09:31:00 EST

Filed under: Hirings/Firings/Layoffs, Ford

If Bill Ford, Jr. has his way, he'll never be behind the controls of the Ford Motor Company ever again. It's not that the former CEO loathes the idea of holding the reigns to one of the biggest car manufacturers on the planet, notes Automotive News, it's just that he'd rather spend his time focusing on the company's future than dealing with day-to-to-day concerns.

So who's going to take the tiller when current head-honcho Alan Mulally steps out for good? It's anyone's guess at this point, though Ford believes that the company now has a strong enough management structure to pull a candidate from within. Mulally, who's currently 64 years-old, took over as CEO back in 2006, and there has been some speculation as to how long the man will stay in charge.

One thing's for sure though, odds are whoever jumps in the saddle at the Blue Oval after Mulally likely won't be of the Ford bloodline.

[Source: Automotive News | Image: Bill Pugliano/Getty]

Report: Bill Ford Jr. not likely to be CEO again, Mulally successor will be internal originally appeared on Autoblog on Wed, 14 Apr 2010 09:31:00 EST. Please see our terms for use of feeds.

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Bill Ford, AdAge chide GM over 230 MPG Chevrolet Volt MPG projection

Sebastian Blanco — Thu, 20 Aug 2009 15:58:00 EST

Filed under: Etc., Marketing/Advertising, Chevrolet, Ford, GM

The Chevrolet Volt's 230 mpg number continues to be questioned. The latest to criticize is Bill Ford, who takes issue not only with the General Motors-approved 230 figure, but also Nissan's claim that its Leaf EV will get 367 mpg. The real culprit here, Ford said, is the EPA's methodology, which he argues is meaningless. "This question devolves into madness," Ford reportedly told Green Car Advisor:

"The government will have to come up with a meaningful number for customers - a user-friendly label. And I think they will. I can't dispute that number, but I'm not sure it's relevant to the customer either."

Ford also said that since his company doesn't "have any particular expertise in batteries," they'll probably buy the batteries from established manufacturers for their own electrified cars.

Speaking of relevance, Advertising Age, the publication that was first to guess that the whole 230 teaser campaign was a GM plot, has determined that the stunt was a bad idea. The big problems it sees with the campaign are that it often gave people the wrong idea (that 230 would be the U.S.'s new a standard voltage for outlets) and didn't give people enough breadcrumbs to follow to the Volt. It created more questions than answers, until the big reveal last week. In any case, the whole thing was targeted at a younger, hipper audience, but are these the people who have $40,000+ to buy a Volt?

Gallery: 2011 Chevy Volt

[Sources: Green Car Advisor, Advertising Age]

Bill Ford, AdAge chide GM over 230 MPG Chevrolet Volt MPG projection originally appeared on Autoblog on Thu, 20 Aug 2009 15:58:00 EST. Please see our terms for use of feeds.

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REPORT: Bill Ford, Jr. "shocked" at Wagoner's ousting

Jonathon Ramsey — Wed, 22 Apr 2009 18:00:00 EST

Filed under: Etc., Government/Legal

Bill Ford, Jr., executive chairman of the Ford Motor Company, admits he was surprised at former General Motors CEO Rick Wagoner being asked to step down by the Obama administration. Even as Ford applauded the White House, saying "One of the things we've never had in the past is an administration that wants to pull all the parties together and figure out an energy policy and how to make a strong automotive industry and he is doing that," he also told CNN's Larry King: "I guess I never thought I'd live to see the day where the CEO of General Motors was dismissed by the President of the United States."

Of course, Ford isn't alone in being shocked, but there is quite a range of opinion on the matter: Some say GM taking government loans (as opposed to private sector loans) changed the rules, and the government needed to protect its investment; others say it was government interference. Regardless, the way things are going, we would be surprised if that were the last "shocking" development in the car industry saga.

[Source: The Detroit Free Press]

REPORT: Bill Ford, Jr. "shocked" at Wagoner's ousting originally appeared on Autoblog on Wed, 22 Apr 2009 18:00:00 EST. Please see our terms for use of feeds.

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Bill Ford continues to refuse paycheck from board

Chris Shunk — Fri, 29 Feb 2008 08:02:00 EST

Filed under: Etc., Ford, Earnings/Financials

Ford Chairman Bill Ford hasn't been compensated for working at his great grandfather's company since May 2005, and he doesn't intend to cash in until the Blue Oval makes a sustained profit. Ford's board of directors decided that nearly three years was too long to work pro bono and tried to pay the Ford family scion, but the chairman again refused to reneg on his pay-free pledge. Mr. Ford has, however, agreed to receive payment retroactive to 2008 once the Dearborn, MI automaker achieves a full year of profitability.

It's impressive that Blue Oval Bill has foregone between $25 million and $33 million in salary over the past few years, but Henry Ford's sweat and guile made him wealthy beyond his wildest dreams before he was even born. Those of us living in Michigan would be far more impressed if Bill pledged to give up the Detroit Lions if the automaker misses its target to regain profitability in 2009.

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

Bill Ford continues to refuse paycheck from board originally appeared on Autoblog on Fri, 29 Feb 2008 08:02:00 EST. Please see our terms for use of feeds.

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Mulally pockets $28 million in 2006

Frank Filipponio — Thu, 05 Apr 2007 15:02:00 EST

Filed under: Ford, Earnings/Financials

Reuters is reporting that while Ford Motor Co. posted a $12.7 billion loss last year, its new Chief Executive earned $28.18 million. And that was for four months worth of work. Alan Mulally's pay for 2006 included salary and stock options, as well as an $18.5 million bonus. The man Mulally replaced, Chairman Bill Ford, had made good on his pledge to forego compensation until the company made a turnaround, and had no salary, bonuses, or stock earnings during the first 8 months of 2006. In the grand scheme of things, $28 million is a drop in the bucket compared to the huge corporate losses Ford has posted, but hopefully Ford is getting what they are paying for with their new CEO. Only time will tell, as the automaker isn't expected to get back into the black until 2009 at the earliest.

In all fairness, Mulally's package included a $7.5 million signing bonus and Ford had to pay an additional $11 million to compensate for getting him out of his Boeing contract early. And in case some think Ford would be smart to dump him and take the company in a different direction, the EXIT package would be almost as big. If the CEO is released during his first five years on the job, his exit package is valued at $27.54 million. Mulally gets that amount if he is let go for anything other than cause. That includes being let go due to a merger or bankruptcy filing. To put it in perspective, Ford President of the Americas Mark Fields made $5.57 million last year. That included a salary of $1.25 million and something related to using a jet. And CFO Don Leclair had $4.4 million in total compensation for 2006.

[Source: Reuters]

Mulally pockets $28 million in 2006 originally appeared on Autoblog on Thu, 05 Apr 2007 15:02:00 EST. Please see our terms for use of feeds.

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Live like a king in Bill Ford's ex-residence

Chris Shunk — Tue, 30 Jan 2007 19:53:00 EST

Filed under: Etc., Ford

Are you looking for a unique property with plenty of land, 5,900 sq. ft. of living space and a beautiful view of ~~a lake Huron~~ the Huron River? Not sure? What if we told you the house belongs to Ford Motor Company Chairman Bill Ford? Well, if you have $3.95 Million and a desire to live in Ann Arbor, then this very well may be your dream home. The Fords moved down the street, so your children may even go to the same school. They'll be the kids with the full-time security detail and access to a corporate jet.

Mr. Ford's house has five bedrooms, a tennis court, in-ground pool, and a view that is remarkably like the one at the Henry Ford Estate in Dearborn. The house sits on 17.1 acres and has an amazing 650 feet of lake-frontage. The $3.95 Million selling price seems very firm, but since it's a Ford you can probably negotiate 0% financing.

Check out the house listing here.

[Source: Detroit Free Press via Jalopnik]

Live like a king in Bill Ford's ex-residence originally appeared on Autoblog on Tue, 30 Jan 2007 19:53:00 EST. Please see our terms for use of feeds.

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Mark Fields under fire for expensive flights home

Scott Davis — Wed, 15 Nov 2006 15:01:00 EST

Filed under: Ford, Earnings/Financials

Steve Wilson, a reporter for WXYZ Channel 7 in Detroit, has taken the President of the Americas for Ford Motor Company, Mark Fields, to task for the weekly flights the executive takes from Detroit to his home in Delray Beach, Florida. Fields uses a company jet for the flights, which itself isn't the issue since the trips are approved by his employment contract. Wilson, however, estimates that each weekly trip costs between $50,000 and $70,000, essentially an entire year's salary for many who work at Ford. Those high figures include the cost of flying one passenger with a crew of three, and either putting the crew up in a luxury hotel for the weekend or having the jet return to Detroit and fly back to fetch Fields before Monday.

Fields has been quoted as saying, "We are making sacrifices at every level." The person who hired Fields, ex-CEO Bill Ford Jr., surely made sacrifices. The great-grandson of Henry Ford announced he would forego any and all compensation back in May of 2005 until his family's company begins turning a profit again. Of course, Mark Fields is not a member of the Ford family and no expects him to forego a salary, which last year reportedly amounted to $3 million including a $1 million bonus. Wilson, however, clearly sees the hypocrisy of an executive asking his workforce to sacrifice their wages, health care and even their jobs while he drains the company of funds he could cleary afford to cover himself.

The weekly trips home on the company jet are seen by Ford as an incentive to attract and retain talent the automaker sorely needs to turn its fortunes around. Hopefully Mark Fields is the man for that job, and if he succeeds we won't say a word every time he boards the Blue Oval jet. But at this moment when Ford is struggling to remain solvent, even if the overall impact is minimal, the gesture of foregoing some of those expensive perks goes a long way.

Thanks to Joe for the tip!

[Source: WXYZ.com]

Mark Fields under fire for expensive flights home originally appeared on Autoblog on Wed, 15 Nov 2006 15:01:00 EST. Please see our terms for use of feeds.

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Meeting of the Minds: Big Three and Bush to talk on Tuesday

John Neff — Thu, 09 Nov 2006 19:58:00 EST

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

Bill Ford, Rick Wagoner and Tom LaSorda have been twiddling their thumbs since May waiting for the White House to confirm a date for the Detroit trio to meet with George Bush, the D.C. decider. Tentative times have come and gone, and as each one passed, the perception that the current administration cares little about the challenges facing domestic automakers continued to grow. In reality, those challenges that include health care costs and the price of imported raw materials like steel, just didn't make for good pre-election prattle.

Not a day after the midterm elections have passed, the White House has announced that George Bush will meet with Ford, Wagoner and LaSorda next Tuesday. No additional details were given about what time the meeting would take place or if an agenda of talking points had been set.

Most of us on the Autoblog team are apolitical when it comes to cars, but since the Republicans have lost control over both houses of Congress, we can't help but wonder if Detroit should instead sit down for a chat with someone like N ancy Pelosi (D - CA), the presumptive Speaker of the House, or Harry Reid (D - NV), the soon-to-be leader of the Senate's majority.

BTW - if you'd like to talk politics in the comments, feel free. Keep it civil, though, or we'll be forced to turn the comments off.

[Source: The Detroit Free Press]

Meeting of the Minds: Big Three and Bush to talk on Tuesday originally appeared on Autoblog on Thu, 09 Nov 2006 19:58:00 EST. Please see our terms for use of feeds.

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Antics abound at the SAE Greenbrier retreat

Erin Mays — Sat, 21 Oct 2006 17:07:00 EST

Filed under: Etc., Ford, GM, Nissan

The Greenbrier retreat hosted by the Society of Automotive Engineers is known as something of a boondoggle in the industry, but with all the doom and gloom, we're hard-pressed to deny the automotive bigwigs a little fun. The tone of the confrence is light, with industry execs spending more time creating comedy routines than doing any actual work. Last year's event saw Bo Andersson search high and low for a Dracula costume after an opening skit referred to him as a blood-sucking vampire.

This year's Saturday Night Live-style newscast, which is a yearly tradition, showed Delphi boss Steve Miller at his funniest, even relating that the night before was so cold, Ford purchasing chief Tony Brown was seen with his hands "in his own pockets."

The fun didn't end at Greenbrier, however -- the annual Steakout, a not-so-PETA-friendly fundraiser hosted by the Detroit Press Club Foundation, will take place this Wednesday, complete with a re-do of the aforementioned newscast as well as some new stuff, including a secret video tape allegedly of the first meeting between Bill Ford and "The One," Alan Mulally (set to the soundtrack, "Endless Love"). Also slated for the dinner is the "real story" behind GM's unanimous vote to reject Renault/Nissan's merger bid -- all we'll say is that Jerry York should have held it.

Proceeds from the dinner go toward scholarships for journalism students and buying holiday toys for children.

[Source: Detroit News]

Antics abound at the SAE Greenbrier retreat originally appeared on Autoblog on Sat, 21 Oct 2006 17:07:00 EST. Please see our terms for use of feeds.

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Steve Hamp jumps big blue oval ship

Erin Mays — Tue, 26 Sep 2006 09:05:00 EST

Filed under: Hirings/Firings/Layoffs, Ford

To no one's surprise, Steve Hamp, chief of staff for Ford Motor Company CEO Alan Mulally, is bailing on the blue oval at the end of this year. The well-connected brother-in-law to former CEO and continuing chairman Bill Ford was apparently instrumental in bringing the former Boeing big wig on board. Ford hasn't announced any plan to replace him.

Hamp, who is married to Bill Ford's older sister Shiela, was brought on in early November of 2005 after Jim Vella stepped down. The then-president of the Henry Ford Museum was responsible for running Michigan's number one tourist attraction, bringing in $54 million in revenues and representing a huge public relations tool for Ford.

[Source: The Car Connection]

Steve Hamp jumps big blue oval ship originally appeared on Autoblog on Tue, 26 Sep 2006 09:05:00 EST. Please see our terms for use of feeds.

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Ford's Accelerated Way Forward Plan details announced

John Neff — Fri, 15 Sep 2006 07:32:00 EST

Filed under: Ford, Earnings/Financials

All right, we got up this early to get Ford's announcement first thing, so let's get to it. Ford has announced, in a nutshell, that Way Forward 2.0 will include a further reduction in its production capacity and work force combined with a "ramp up" of new product introductions. The company also announced that a return to profitability is now not expected until at least 2009.

The entire announcement can be found after the jump, but we'll highlight a few important points here. For one, the Lincoln Town Car will live on! After the Wixom, MI plant closes, production of the Town Car will move to the St. Thomas, Ontario plant. Also, the large crossover based on the Ford Fairlane concept will be on sale in 2008. In the area of cost savings, the Blue Oval has announced that 14,000 salaried-related positions will be eliminated, which is a big jump in addition to the prior 4,000 salaried positions that were cut in Q1. Here's a big one: the company is moving up its goal of reducing its workforce by 25,000 to 30,000 workers from 2012 to the end of 2008. Ford subsidiary Automotive Components Holding will also see all of its facilities either sold or closed by the end of 2008, as well.

Finally, the impression we got is that Ford is serious about shrinking. In terms of production, capacity is being reduced to 3.6 million units, 26% under 2005 levels. Market share is expected to decrease to around 14 to 15 percent and then level off, too. We now have a list of plants that will either be closed or idled by 2008, which can be found after the jump.

There's lots to chew on here folks. Check out the complete release with details after the jump and analysis will be forthcoming.

[Source: Ford]

Continue reading Ford's Accelerated Way Forward Plan details announced

Ford's Accelerated Way Forward Plan details announced originally appeared on Autoblog on Fri, 15 Sep 2006 07:32:00 EST. Please see our terms for use of feeds.

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