Tuesday, September 05, 2006

Ford Looks For Outside Help In Turnaround Effort

Ford CEO Says It Must Change The Way It Does Business
Associated PressSeptember 3, 2006 3:10 a.m.
DEARBORN, Michigan --

Ford Motor Co., the No. 2 auto maker in the U.S., must change the way it does business in order to make a turnaround, the company's head said in an email to employees. "The business model that sustained us for decades is no longer sufficient to sustain profitability," wrote chairman and chief executive Bill Ford. Ford said he has organized his approach to solving the company's problems by focusing on three areas: accelerating its North American turnaround effort, leveraging its global assets and leadership. "It is important to note that all of the issues that some onlookers view as 'problems' for our company are issues that I view as opportunities," he wrote. "These should not be days of 'fear' for the people of the Ford Motor Company as one headline put it recently."

Mr. Ford added that there was a "sense of uncertainty over specific tactics until some key decisions are made." He said the company was updating its business model and altering its structure to make Ford "a stronger, more competitive company."
A copy of the memo Ford sent Friday was obtained by The Detroit News, which published details of it Saturday. A spokesman for the Dearborn, Mich.-based company provided a copy to The Associated Press....read more: HERE

9/05/2006 06:48:00 AM

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