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Last Updated: January 15. 2010 2:57PM
Ford's Mulally wins 'Industry Leader of 2009'
Bryce G. Hoffman / The Detroit News
Detroit -- Ford Motor Co. CEO Alan Mulally has been named the "Industry Leader of 2009" by the Automotive Hall of Fame, which called him "the overwhelming and obvious choice."
Ford had a stroke of genius when they declined federal money. They will not only survive but end up top dog among the big three. How much of that decision was Mulally's I don't know, but he sure was given good advice.
Worst possible thread title ever... in no way does Alan Mulally personify Lee Iacocca... sure Iacocca 'saved' Chrysler but he did it with a government handout... Mulally did no such thing.Quote:
Originally Posted by artds
I'm sure the Ford Family had a huge influence in not taking the Government cash. They would have lost the control the have through their prefferred shares. The family still effectively controls the Ford Motor Board through their ownership of Ford class B stock. They own about 4% of the stock but have 40% of the voting rights.
Not to mention that if Ford hadn't borrowed so heavily back when credit was much easier to secure then they also would have been counting on our rich Uncle to keep them afloat as well.Quote:
Originally Posted by ndavies
Good point.Quote:
Originally Posted by iheartthed
I guess everything in Detroit really DOES suck.
Thanks for opening my eyes, "DetroitYES."
the flip side of that though is that GM and Chrysler had a substantial amount of debt wiped off their balance sheets while Ford did not. It's logical to expect this to catch up with Ford eventually. They'll either have to price their products higher than their domestic competitors or their profit margins will have to suffer.Quote:
Originally Posted by Ray1936
In no way? Really?Quote:
Originally Posted by esp1986
So you think Iacocca's legacy is that of someone who simply took "a government handout" rather than someone who used his business sense to figure out a way to save the company that employed him? Reducing corporate waste and overseeing the development of the K-car don't count I guess.
There may be a few obvious parallels between the state of Chrysler in the early 1980s and the state of Ford in 2008, but there aren't many. Not all business crises are created equal. It was possible for Ford to survive without taking low interest government loans. This wasn't the case for Chrysler.
The press never has a shortage of people to raise up to mythical status to fill their pages, links, and blogs and keep their 'experts' busy talking and writing. Maybe Mullaly is a hero. Maybe not. Time will tell. And a few hundred million dollars in bonuses and stock options. I wonder if there's any heroes on the shop floors or on the cubicles?
Remember Ford hocked everything they owned way ahead of the meltdown so that they did not have to resort to bankruptcy ot accept government assistance. Credit probably has to go to Billy Ford. Now if he could only wrest control of the Lions.
Mulally should start Ford building planes again.
I'm curious why that fact never gets discussed. Ford mortgaged everything right down to the blue oval, and yet they are now viewed as a "success". Where is all that debt addressed in the plaudits? Were they not just months ago complaining that they couldn't shed that debt like the others through BK and that put them at a competitive disadvantage? At some point the bill is going to be due...Quote:
Originally Posted by ronaldj
a lot of people would preface their response with "for the last time..." im not. i will say this as often as i have to until im dead...Quote:
sure Iacocca 'saved' Chrysler but he did it with a government handout
Chrysler got the federal government to CO-SIGN for the loans that Iacocca secured from PRIVATE BANKS. there was no "government handout"...
oh, and the loans were paid back SEVEN YEARS ahead of their scheduled repayment...
the K-cars were total crap, his business model was ok short term, but definitely not long-term. pure band-aid.Quote:
Originally Posted by artds
Ford, manwhile, has made real, substantive changes to its business model [[changes which started under wcf jr), not the least of which was getting the bean-counters out of product development
By the time he left Chrysler, the company was on a roll [[Pre-Daimler days). Or, am I mistaken?Quote:
the K-cars were total crap, his business model was ok short term, but definitely not long-term. pure band-aid.
Exactly. Daimler basically ran Chrysler into the ground. They didn't want to invest in the company and they certainly didn't want to muddle the Mercedes-Benz brand by having it share platforms/technology with Chrysler.
As for Ford, they will be fine. They have a great product portfolio, they have dramatically improved both in quality and perception, and it shows by the popularity of their new products. It could eventually regain it's #2 position ahead of Toyota in the U.S. As Toyota continues to falter with poor quality and a bland portfolio of cars, they'll eventually start losing their dominance in the small/midsize car market, a market that Ford will gladly pick up.
Excellent points, Bailey.Quote:
Originally Posted by bailey
I own a Toyota. I bought it in desperation to achieve a higher quality, higher mileage automobile than was available from US manufacturers. The Focus was crap at the time. I'm a Ford guy, from a Ford family. Family and friends who work for Ford were disparaging Ford and the Focus. It's since been corrected and improved. We'll see for how long. The Toyota I own is, at best, a middling auto in terms of quality and fit. I'm not happy with the service from the dealer, I've stopped going. The tires [[Bridgestone) are the worst tires I've ever had on a new auto in my life. They don't maintain pressure and one blew out with about 35K miles. It's been back twice for warranty service and each time they kept it overnight without offering a free rental car. The weather stripping is poorly fitted. I still like my auto because I become attached to my cars and I take very good care of them, but I probably won't buy another Toyota. We'll see what becomes of US autos before I buy another one. Maybe a Honda?Quote:
Originally Posted by hudkina
Why not the 2011 Chevy Cruze or Ford Focus? Both are significant upgrades to the old versions, much in the same way the Malibu and Fusion are far more competetive [[and even class-leading) compared to the Asian brands.