Ford Now Looking At Other Alliances; Selling Jaguar
8/2/06, 03:21 AM
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Ford Now Looking At Other Alliances; Selling Jaguar
Looks like the automotive landscape may be about to change FAST >>
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Ford reportedly hires M&A expert for alliances
By MarketWatch
Last Update: 4:55 AM ET Aug 2, 2006
TEL AVIV (MarketWatch) -- Ford Motor Co. has hired Kenneth Leet, who led merger teams at Goldman Sachs and Bank of America, to lead a team that will examine whether to pursue alliances with other automakers and whether to sell assets such as the Jaguar luxury-car unit, according to a published report.
Leet was recruited to Ford by two former Goldman Sachs executives who sit on Ford's board, ex-Treasury Secretary Robert Rubin and John Thornton, The Wall Street Journal reported Wednesday, citing people close to the situation.
Leet's hiring, to be announced later on Wednesday, was initiated by Ford Chairman and Chief Executive Bill Ford, the Journal report added.
The move comes a few days after Renault SA Chairman Carlos Ghosn told financial analysts in Paris that Renault, Nissan Motor Co. stand to reap vast financial gains - including cost-savings from common purchasing -- from an eventual alliance.
Ford shares fell 1.4% to $6.58 on Tuesday after reporting declining July auto sales in the U.S.
By MarketWatch
Last Update: 4:55 AM ET Aug 2, 2006
TEL AVIV (MarketWatch) -- Ford Motor Co. has hired Kenneth Leet, who led merger teams at Goldman Sachs and Bank of America, to lead a team that will examine whether to pursue alliances with other automakers and whether to sell assets such as the Jaguar luxury-car unit, according to a published report.
Leet was recruited to Ford by two former Goldman Sachs executives who sit on Ford's board, ex-Treasury Secretary Robert Rubin and John Thornton, The Wall Street Journal reported Wednesday, citing people close to the situation.
Leet's hiring, to be announced later on Wednesday, was initiated by Ford Chairman and Chief Executive Bill Ford, the Journal report added.
The move comes a few days after Renault SA Chairman Carlos Ghosn told financial analysts in Paris that Renault, Nissan Motor Co. stand to reap vast financial gains - including cost-savings from common purchasing -- from an eventual alliance.
Ford shares fell 1.4% to $6.58 on Tuesday after reporting declining July auto sales in the U.S.
8/2/06, 05:07 AM
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I hope Ford doesnt sell Jaguar or Aston Martin. They are great legendary brands and they are producing some incredible models right now. They need to work on making the cars finanially viable and with high quality & desireability, which needs to be done with the X-type.
8/2/06, 06:47 AM
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Originally Posted by mudshuvel319
I hope Ford doesnt sell Jaguar or Aston Martin. They are great legendary brands and they are producing some incredible models right now. They need to work on making the cars finanially viable and with high quality & desireability, which needs to be done with the X-type.
Hey on a lighter note, did you hear about the car that was doing the burnout in Hatboro, after the show Saturday, and it hit a house? I saw it happen in front of my eyes. Couldn't believe it!!! Really messed up both the porch of the house, AND the car. Total idiot, that driver
8/2/06, 07:52 AM
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Originally Posted by 05fordgt
Hey Dan, don't worry, they won't sell Aston Martin, trust me on that one. That brand is finally in the black, for the 1st time in ages, and they sell every car that they make, so this company is a $$$$ maker for Ford. Jaguar on the other hand, I'm not too sure of. With the new XK out, this should help, but the big test is when Jag releases the new S-Type, with its new body. It's suppose to look totally different. If this car goes over big, then Jaguar is in for good times. If it doesn't hit big, you may see Jaguar get sold off. Only time will tell.
Hey on a lighter note, did you hear about the car that was doing the burnout in Hatboro, after the show Saturday, and it hit a house? I saw it happen in front of my eyes. Couldn't believe it!!! Really messed up both the porch of the house, AND the car. Total idiot, that driver
Hey on a lighter note, did you hear about the car that was doing the burnout in Hatboro, after the show Saturday, and it hit a house? I saw it happen in front of my eyes. Couldn't believe it!!! Really messed up both the porch of the house, AND the car. Total idiot, that driver
I didn’t hear about that burnout accident. Which car was it and where did it happen? People can be idiots. I was over by the train station and there were a dozen or so burnouts on the street there. A big group of drunk guys that lived down the street started yelling at the crowd watching the burnout (I was one those watching
), and it actually turned into a 10-person fist fight. Somebody called the cops and there were 5 cop cars there within 5 minutes. All in all, this wasn’t a real good end to the car show this year.
8/2/06, 03:02 PM
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jaguar's become somewhat tied into PAG, as Ford envisions Land Rover and Jag as the truck/car compentent of the "same" brand. Cutting that out would leave a gap in PAG and, should Jaguar move on to success, be a PR mess for Ford. Better to keep rolling the dice, I think the new S will be a hard six.
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