Foresight Advisors > Ford Vows To Drive Company Out Of Red

Resources		Ford Vows To Drive Company Out Of Red
	News Articles Families Torn Over Land's Future Warning: shock ahead In Business, Trust Will Set You Free Early Succession Planning is Vital What, me worry about family business succession?... Solving the Tough Problems Planning for Succession Family Business No Guarantee of Success Inside an Empire Molson, Coors Scions Slated for New Board Keeping Business All In The Family Family Bickering Can Waste a Fortune The Entitlement Virus Perception is Reality and Facts are Negotiable Printing Giant to Stay a Family Affair The Importance of the Family Unit How to Avoid Selling Up to Your Rivals Managing Conflict Creatively in Family Business Sales Follies: Don't Ride A Dead Horse Sobey Family Business Flourishes Treating Children Fairly and Equitably Families Taking Care of Business Better Than Others, Study Finds Will Sibling Rivalry Sink Your Venture? Proud Waves Break Fierce Feud Threatens Strong Family Venture Is Your Family Business Ready for Succession? Preventing Family Feuds Protect Your Assets ñ Manage Your Fears What to Look for in a Family Business Consultant When and How to Hire a Family Business Consultant Make no Mistake Built to Last Rogers Succession No Family Affair Cottage Wars Plan Ahead to Beat Retirement Blues SuccessCareÆ Facilitators on TV Choices for the Future - An Integrated Succession Plan Are You an Entrepreneur or a Business Owner? The Business Chain A Bata Reclaims Helm of Shoe Empire Ford Vows To Drive Company Out Of Red Family Values Novel Approach to Teaching Teamwork Contingency / Continuity Plans Succession Planning Retirement Planning Wealth / Estate Planning Business Planning Strategic Planning Organizational Development Family Participation Plans Family Governance Roles / Responsibilites Advisory Boards		There’s a Ford back at the helm of the world’s second-largest auto maker, and he vowed yesterday to examine every facet of Ford Motor Co.’s business to drive the company out of the red and repair its damaged reputation. The appointment of William Clay Ford Jr. – a great-grandson of company founder Henry Ford – as president and chief executive makes him the first family member to run Ford since 1979, when his uncle Henry Ford II resigned. “Everything’s up for review. Everything we have, every asset, every piece of geography, we’re going to take a good, hard look at it.” Mr. Ford, who was already chairman of the board, said at a news conference at the company’s headquarters in Dearborn, Mich. Jacques Nasser, a 33-year Ford veteran who was dubbed Jac the Knife and Jac Slasher for his cost-cutting zeal, resigned as president and CEO yesterday after a tumultuous three-year reign. The highs of his stint included Ford growing to the point where it was poised to surpass historic rival General Motors Corp., as the world’s largest auto maker. But he departs as the auto maker is still smarting from a messy and costly battle with tire maker and long-time partner Bridgestone-Firestone Inc., over tire blowouts, sport utility vehicle rollovers and more than 100 deaths. “I think we lost our focus in several areas,” said Mr. Ford, 44. The Firestone mess, which has cost the company more than $3-billion (U.S) is just one of the shadows hovering over Ford. It provided a major distraction to management just as the North American market started to go sour last year and also has hurt sales of one of Ford’s key vehicles, the Explorer SUV. But other problems have bubbled up for the auto maker since the heady days early in Mr. Nasser’s tenure when the purchases of Land Rover and the car business of Volvo AB vaulted Ford within shouting distance of GM. By Greg Keenan