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Comments on Ford - USA - Overhaul Time--Again
NEW YORK ,NY,USA -Forbes, by Jerry Flint -23 Jan 2006: -- Ford Motor will shut 14 plants and cut factory employment by 25,000 to 30,000 in an effort to return North American operations to profitability by 2008. "That's not a prediction, it's a promise," says Mark Fields, who heads Ford's North American operations... Last year, Ford lost $1.6 billion (pretax) in North America... The emphasis in Ford's announcement today, called "The Way Forward Plan," is that the company would change. Ford is to be less conservative in design, and costs are to be cut by billions of dollars. But "you can't cut your way to success," says Bill Ford, company chairman... Ford may need a strongman. That has been a Ford characteristic--the "prime minister" who actually runs the company under the "constitutional monarch," a member of the Ford family. It is common throughout Ford's history for Ford's prime minister and the monarch to eventually have a falling-out, which is what happened in 1978 when Henry II forced out Lee Iacocca... One more thing: Never forget the dedication of the Ford family to the company. Any bankruptcy would mean a loss of control for the family. The Fords would fight to the death to prevent the company's downfall. Think Valley Forge, Stalingrad, Verdun. Their name is on the building, and they intend for both the company and the family to survive...
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