Ford page 8

Ford page 8 by ric gustafson


In 2006, the new Ford Edge was to be introduced to the public. One immediate problem was a grinding noise coming from the suspension. Because of the problem, the introduction was halted.
In October of 2006, Mulally met with GM CEO Rick Wagoner. Wagoner had turned GM around in six years and was now making a profit. Some of Mulally's plans for Ford included reducing production to 3.6 million units by the end of 2008. Plant closures and job cuts would save the company five billion dollars. Mulally's strategy was for Ford's organization structure to be similiar to that of Boeing when he was there.
Mulally studied the company's brands. He looked at Ford, Mercury, Lincoln, Aston Martin, Jaguar, Land Rover, Volvo and Mazda. By the end of 2006, Mulally was able to convince the board of directors to sell Jaguar and Land Rover and possibly Volvo. Mulally also wanted to negotiate a new contract with the UAW and concentrate more on European and Asian sales.
In November 2006, Ford's chief financial officer Don Leclair and Treasurer Ann Marie Petach made a pitch to the nation's largest investment banks.


research help: ' American Icon' by Bryce G Hoffman


Peace and God's blessings. Love Ric