TRAVERSE CITY: Ford says no "plan B" for turnaround effort - Ford Forums - Mustang Forum, Ford Trucks, Ford Focus and Ford Cars
LinkBack Thread Tools Display Modes
post #1 of 1 (permalink) Old 08-07-02, 11:55 AM Thread Starter
Registered User
Stacy94PGT's Avatar
Join Date: Feb 2001
Location: The Hills of North Georgia,USA
Posts: 7,859
Ford says no "plan B" for turnaround effort

By Reuters
Automotive News / August 05, 2002
Ford Motor Co. Chairman and CEO Bill Ford said on Wednesday there was no "plan B" for the company's turnaround effort, and that its efforts were on track.

The automaker had said last month that cost-cutting efforts outlined in its plan to produce $7 billion a year in pretax profits by mid-decade were running about six months behind schedule. Ford Chief Financial Officer Allan Gilmour warned deeper job and cost cuts were possible.

"There's no plan B as some people have suggested," Ford said. "Its really a fine-tuning of the plan we have in place.

"We're on a trajectory that will get us where we need to go," Ford added. "I feel very good about where we are in our plan and in our recovery."

The company earned $570 million in the second quarter, its first profit in four quarters, as it cut costs and benefitted from stronger North American production. The company said it expected to post a "small loss" in the third quarter, with a "modest profit" expected for the year as a whole.

Bill Ford also said the company was considering whether to count stock options against earnings, and said the topic would be discussed at the Ford board meeting in September. General Motors said on Tuesday it would include the cost of options in its earnings.

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.....
Stacy94PGT is offline  
Sponsored Links

  Ford Forums - Mustang Forum, Ford Trucks, Ford Focus and Ford Cars > Fordforums Community > Latest Ford News and Racing News > Ford Worldwide News
Gear in this thread - Powered by O'Reilly Auto Parts

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page
Display Modes
Linear Mode Linear Mode

Similar Threads
Thread Thread Starter Forum Replies Last Post
Ford family celebrates 100 years of cars Stacy94PGT Ford Worldwide News 0 06-10-03 06:46 AM
FORD TOUGH: The pressure's on for Bill Ford Jr. to finish first Stacy94PGT Ford Worldwide News 0 06-10-03 05:52 AM
'Henry had the dream' Stacy94PGT Ford Worldwide News 0 03-28-03 06:58 AM
A CENTURY OF VISION: Fords built city, changed the world Stacy94PGT Ford Worldwide News 0 03-12-03 08:17 AM
Ford Product-Led Transformation: 2003 RPO83 Trans | Driveline 0 07-22-02 07:48 AM

Posting Rules  
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On

For the best viewing experience please update your browser to Google Chrome