This man keeps popping up in connection with the future prospects for Ford, Carlos Ghosn of Renault/Nissan. But of course he's still in talks with GM, isn't he? The Automotive Press, think the sun shines out of his rear, and I'm sure he's good at what he does. But is this one man the Messiah of the auto industry? Doubtful, even he has limits, and being stretched thin between Asia and Europe, it seems unlikely he could be persuaded to leave his current position to take on the challenges at Ford.
This man, Jaques Nasser, former CEO of Ford and now working for JP Morgan Chase, is back in Ford news. Rumors are that Nasser is looking into buying Jaguar and Range Rover from Ford for investors. But let's not forget that Ford is still suffering from some of his lofty ideas. It was Nasser that made the purchases of Ford's Premier Auto Group brands, spending cash reserves like his personal mad money.
Bill Ford Jr, reluctantly let Nasser go and assumed comand of the family fortune's future. Net chatter is that FoMoCo will "privatize" buying back all shares of stock. I'm not Kramer of Mad Money, so I won't speculate on that. But it's obvious Bill Jr isn't the one to bring Ford back to solvency, well not alone at least.
But isn't that why he brought Mark Fields back to the US from Mazda in Japan? Isn't this the guy that's supposed to be making "Bold Moves" to drive "American Innovation" and lead Ford along the "Way Forward" into profitable times? When I read months ago, that Fields was being paid a bonus to stay at least two years, I had a feeling he wasn't going to be the one either. So who can save Ford? Or would it/ should it be one man? I had though it would be Bill Jr, and that Ford had all the pieces of the puzzle in their global toy chest. But it seems that there is more pain in Ford's future, before anyone can be hailed as the "Man that saved Ford."
You have done a great job with product but the real news at Ford is not product related for the moment. It is IF and HOW the company will survive. It is about operating issues, management and what will Ford need to do to remain an auto maker. Yes, product will never be out of the picture, but I encourage you to look at some of the none product issues. Posting a topic such from time to time as this is a great way to start. Keep up the good work.
ReplyDeleteWho remembers Chrysler in 1991? Stock was at $9 their bond rating was junk. A group of banks needed to finance the RUNNING of the business dropped out. The U.S. goverment stepped in and basically co-signed Chryslers loans. Then out came the Intrepid, 300, Dodge Ram pickup, Neon, Viper, ect. 3 years later the stock is $68/share.Check out what Ford Has got in the pipeline.. The Fairlane is going to sell like hot cakes, it's THE only minivan I'd look forward to getting in everyday. Toyota has a smash hit with their new FJ cruiser and Fords quietly green lighted the 04 Bronco concept which will sell sell sell! Anyone seen the new 08 Lincoln MKS
ReplyDeleteThat is one gorgeous car. They'll be back boys, just give'em a little more time. And buy the stock NOW!!!