Ford ahead of schedule on cost-cutting, CEO says

[1931Chevy]

http://biz.yahoo.com/rb/070112/ford_outlook.html?.v=2
DETROIT (Reuters) - Ford Motor Co. (NYSE:F - News), the struggling No. 2 U.S. automaker, is moving ahead of its own schedule for reducing costs, including plant closures and job cuts, Chief Executive Alan Mulally said on Friday.

"I would characterize that we are ahead of schedule on the restructuring," Mulally said in a presentation for financial analysts on Friday. "Our No. 1 priority is to restructure ourselves."


Ford, which lost $7 billion in the first nine months of 2006 and saw sales drop for the year, is closing 16 plants by 2012 and cutting nearly 45,000 jobs in a bid to return its North American automotive operations to profitability.

Mulally, speaking to analysts at Ford's Dearborn, Michigan, headquarters in a presentation monitored by Webcast, said the company had "a solid plan."

[asim]

Ahead? Wow. That means they must be doing fairly well, since they haven't done anything real crazy the last month or so. I think Ford can make it back in the market, BUT I don't know if the company can function correctly to do this.

[HEVguy]

This new CEO really seems to have his act together. Good thing, cause Ford REALLY seems to need it these days.

[LAMRONH]

I like Mulally and have great confidence in him.
I'm a lot more iffy about Fields, who from his lifestyle appears more invested in being a jet-setting Floridian than a real in-the-trenches Detroit fix-it guy.
Time will tell.

[t-rex]

I was nervous for a while that Mulally may have come on board too late to keep the Ford ship from sinking. I hope he can turn things around in enough time to keep Ford from sinking to a permanent 3rd or 4th place. What gets me is, shouldn't all CEO's (or whatever the title) have this sort of management ability? Given the obscene amount of money they're paid, you'd think that Mulally was the norm rather than the exception. Maybe Mulally will lead a turnaround that sets precedents in the industry. Imagine it working its way into pop culture:

You kids behave before I come in there and Mulally the both of ya!

When Mulally went to Ford, I was familiar with the great work he had done keeping Boeing from falling apart, and was hoping he could pull some magic in Blue Ovalsville. And the day I found out Lutz was wooed by GM, I told my friends "watch out! 5-6 years from now you won't recognize GM" based on his performance in turning Chrysler around in the early 90s. Hopefully, the Mulallys and Lutzes will become the new norm in how things are done in Detroit, and the only time we'll encounter the likes of Zarella and Roger Smith are while we're on peeking through the window of ome tour bus travelling through hell!

[01cavalier]

I like tha they are ahead of plan, but like GM, it needs product. A few that are hits aren't enough. I do expect that Ford put out more appealing product, hopefully soon. I will be in the market for a compact car, and the 2008 Focus doesn't appeal to me.

[Caleb02]

why does Ford just partner up with someone like, GM (merger) or Toyota (partnership)... Ford needs big help and lowering costs can only go so far, you still need three things.... product, product, and product... without product one will have to use discounts upon discounts.....