Why Bankruptcy Is a Forgone Conclusion for Ford Motor Company

[FirstWorldProblems]

They deserve bankruptcy. They repeated all the same mistakes from 2008 and this time there isn't anything to mortgage to save themselves. In 2008 they had let their car lineup run stagnant and were heavily invested in trucks. When the market crashed and gas prices went through the roof they had no cars to sell because their entire lineup was garbage. That looked to change in the early 201X's when they came out with the updated Fusion and the Taurus. The revamped Fusion was a solid car when it was released. But they did it all over again. They completely bailed on their cars and put everything into large vehicles.

When the big 3 say nobody wants cars what they should be saying is nobody wants shitty cars. They do the same thing with EVs. "Nobody wants EVs". Correction: Nobody wants shitty EVs. Yes cars are selling at a rate proportionally less than they once did but there is still market share to capture and they simply have no compelling product to capture it.

I wish people would understand what a big racket the GM bankruptcy was. That company was allowed to fold and a new company allowed to assume all of it's assets and intellectual property without the liabilities and it was all packaged up with a nice bow by the federal government. When it happens again, and it will, I hope they let these companies fail like they should have in 2008. Like Volvo and Jaguar, someone will buy the naming rights and continue to run the business if there is money to be made.

Agree with all points here

 

[Yaj Yak]

did N20GT, M Mike K and i all just agree on something

 

[FirstWorldProblems]

I still remember this from a decade ago, lol. Obviously it was made before ford opted out of any gvt funds

 

[EmersonHart13]

Werd, I love cars.

 

[EmersonHart13]

Executive shakeup at Ford in wake of earnings report, rough Explorer launch - Autoblog

Jim Farley DETROIT — Ford Motor Co on Friday shook up its top management, naming strategy chief Jim Farley as chief operating officer of the No. 2

www.autoblog.com

DETROIT — Ford Motor Co on Friday said that top executive Jim Farley will assume the role of chief operating officer, positioning him as potential heir to Chief Executive Jim Hackett.

Farley, president of new businesses, technology and strategy, has been viewed as one of the potential successors to Hackett, who took over in 2017. The news comes three days after Ford offered investors a disappointing 2020 profit outlook.

Hackett, who came out of retirement from Steelcase and as interim athletic director at the University of Michigan to lead Ford in 2017, said at the time he did not plan to stay in the role long.

Ford also said that another executive, Joe Hinrichs, president of automotive, will retire. Many employees and outside observers had seen him as a favorite to succeed Hackett. Hinrichs has overseen automotive production at Ford, and this week's earnings report and Hackett both highlighted the rocky launch of the 2020 Ford Explorer and Lincoln Aviator as one reason for Ford's weak results.

“Jim Farley is the right person to take on this important new role,” Hackett said in a statement. “Jim’s passion for great vehicles and his intense drive for results are well known. He also has developed into a transformational leader with the imagination and foresight to help lead Ford into the future.”

An outside analyst mirrored those sentiments. “Jim Farley is exactly what Ford needs in these challenging times," said Jon Gabrielsen, quoted by the Freep. Gabrielsen is a market economist who advises automakers. "He is very strategically minded and not afraid to take bold actions quickly when the situation requires it.”

Ford's announcement said that Farley will assume responsibility for production, for all global markets, Ford Smart Mobility and autonomy development.

Hau Thai-Tang, Ford's head of product development and purchasing, will add responsibilities for connectivity and enterprise product line management, Ford said.

Ford's annoucement said, "The changes come as Ford is moving with urgency to fully integrate and accelerate its transformation into a higher-growth, higher-margin business by leveraging smart, connected vehicles and services. Since 2017, Ford has made important progress in transforming the company in the face of sweeping technological change and disruption in the auto industry while working to improve the fitness of its base business — restructuring operations, invigorating the product portfolio and reducing bureaucracy."