FIXING FORD, Automaker seeks traction for turnaround
Automotive News / October 14, 2002
A year after Bill Ford replaced Jacques Nasser as CEO of Ford Motor Co., the company still is trying to convince the world that its turnaround is well under way.
So far, Wall Street is skeptical. Ford Motor stock is near a 10-year low, closing at $8.26 a share on Friday, Oct. 11. General Motors increased pressure on Ford Motor last week by sweetening incentives. And profits are slim.
Ford Motor COO Nick Scheele says fresh products are on the way. But as he put it last week, fixing Ford is like turning a ship around in the Detroit River.
Here is what's happening. All stories are available to subscribers only:
Parts sharing is Job 1
Product czar Chris Theodore wants more parts sharing. And he is reorganizing the product-development bureaucracy to get it.
New car lineup
Ford Division will add a mid-sized car in 2005.
Ford Motor will wring costs from vehicles for two more years by reworking them after they launch.
No more knockoffs
Jim Padilla, Ford North America boss, promises that Mercury will no longer get cosmetic knockoffs of Ford vehicles.
Goodbye, two-door pickup
The two-door F series will be history with next year's redesign.
My first car was a 67 Mustang Coupe, 2nd one was a 67 Cougar XR-7, 3rd one was a 66 Mustang Coupe. Why did I get rid of these cars for ? I know why, because I'm stupid, stupid, stupid.
My next Ford.....