More Ford Recalls...
8/3/06, 10:24 PM
#1
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More Ford Recalls...
Ford Issues Recall, Sees 2Q Loss
By KEN THOMAS
The Associated Press
Thursday, August 3, 2006; 8:55 PM
WASHINGTON -- Ford Motor Co., already reeling from business setbacks, recalled 1.2 million trucks, sport utility vehicles and vans Thursday amid concerns about potential engine fires.
Ford said the recall was tied to the speed control deactivation switch system, which could corrode over time, overheat and ignite. It builds upon one of the largest recalls in U.S. history.
The recall was the latest setback for the No. 2 U.S. automaker, which said late Wednesday that its second-quarter loss more than doubled from what it previously reported because of higher-than-expected pension costs.
By KEN THOMAS
The Associated Press
Thursday, August 3, 2006; 8:55 PM
WASHINGTON -- Ford Motor Co., already reeling from business setbacks, recalled 1.2 million trucks, sport utility vehicles and vans Thursday amid concerns about potential engine fires.
Ford said the recall was tied to the speed control deactivation switch system, which could corrode over time, overheat and ignite. It builds upon one of the largest recalls in U.S. history.
The recall was the latest setback for the No. 2 U.S. automaker, which said late Wednesday that its second-quarter loss more than doubled from what it previously reported because of higher-than-expected pension costs.
Why is it starting to feel like this company is on its last legs?
8/4/06, 11:59 AM
#3
Great suppliers we have here it seems..... Of course if it was a Japanese auto maker, it would make the 2nd to last page of the news in itty bitty print and thats the last you'd hear of it.
Of course if it was a Japanese auto maker, it would make the 2nd to last page of the news in itty bitty print and thats the last you'd hear of it.
8/4/06, 12:18 PM
#4
Originally Posted by TJ4Cam
Of course if it was a Japanese auto maker, it would make the 2nd to last page of the news in itty bitty print and thats the last you'd hear of it.
8/4/06, 03:04 PM
#10
Originally Posted by BC_Shelby
"Poors," huh? Nice pun.
I'd like a counter please to watch Ford's cash dwindle, as it slows/stops they'll either have saved themselves . . . or find themselves in the "poor house".
8/4/06, 04:20 PM
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Do any of you here really thing that Ford would actually file for bankruptcy? I'll let you in on a little secret, IT WON"T EVER HAPPEN! Remember back in the '80's, when Chrysler was in BIG trouble. Ford and GM both helped bail them out. As far out as it is, the other big 2 need the 3rd to keep everything going. Also, considering that Ford Credit, is one of the world's largest lenders, there isn't a snowball's chance in you know what, that Ford will go under. If it gets that bad, you'll see the government step in to lend them a hand. Again, if no one believes this, just look back at Chrysler when they were in deep trouble. 
8/4/06, 04:57 PM
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Originally Posted by 05fordgt
Do any of you here really thing that Ford would actually file for bankruptcy? I'll let you in on a little secret, IT WON"T EVER HAPPEN! Remember back in the '80's, when Chrysler was in BIG trouble. Ford and GM both helped bail them out. As far out as it is, the other big 2 need the 3rd to keep everything going. Also, considering that Ford Credit, is one of the world's largest lenders, there isn't a snowball's chance in you know what, that Ford will go under. If it gets that bad, you'll see the government step in to lend them a hand. Again, if no one believes this, just look back at Chrysler when they were in deep trouble.
That and at least they are fixing the problem instead of ignoring it like two asian companies have done.
Jeff, sometimes I wonder how some of the members on this site get by with day to day life being so pesimistic. They'd probably cheer against their own kid's tee-ball team if they were losing.
I myself am going to give Mr. Fields his deserved time to do what he says he's gonna do.
I guess you and I are the minority Jeff since we actually can have faith in someone lasting longer than six months.
Thats all I have to say about that
8/4/06, 05:16 PM
#13
I think Ford Credit might be first on the chopping block. I see them selling Ford Credit before any brands, and/or possible merger.
And just because people see FMC in a different light doesn't mean they hate the company or want to see it fail. I know I look at FMC from as positve perspective as I can . . . sometimes I drink too much Ford Kool-Aid. I've stated many times that the next 18-24 months will be telling for FMC and I'll stand by that.
And just because people see FMC in a different light doesn't mean they hate the company or want to see it fail. I know I look at FMC from as positve perspective as I can . . . sometimes I drink too much Ford Kool-Aid. I've stated many times that the next 18-24 months will be telling for FMC and I'll stand by that.
8/4/06, 05:25 PM
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Originally Posted by TJ4Cam
if it was a Japanese auto maker, it would make the 2nd to last page of the news in itty bitty print and thats the last you'd hear of it.
8/4/06, 10:30 PM
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Originally Posted by 05fordgt
Do any of you here really thing that Ford would actually file for bankruptcy? I'll let you in on a little secret, IT WON"T EVER HAPPEN! Remember back in the '80's, when Chrysler was in BIG trouble. Ford and GM both helped bail them out. As far out as it is, the other big 2 need the 3rd to keep everything going. Also, considering that Ford Credit, is one of the world's largest lenders, there isn't a snowball's chance in you know what, that Ford will go under. If it gets that bad, you'll see the government step in to lend them a hand. Again, if no one believes this, just look back at Chrysler when they were in deep trouble.
As I recall, it was the U.S. government that bailed Chrysler out in the '80s - Ford and GM had nothing to do with it.
I certainly don't think GM and Chrysler have the impetus or resources to bail Ford out. Chrysler has its own dwindling market share issues to deal with, not to mention it's tied up with Daimler.
And we all know what's going on with GM right now. No help there, I'm afraid.
As Evil_Capri stated, Ford credit might end up being sold to generate much needed revenue for the core business.
As to expecting the government to step in: they already tried to ellicit help from the current administration and got nowhere. "You guys need to build products that are relevant," or words to that effect, was, I believe, the response. The current administration and congress are only interested in helping PROFITABLE companies, outsourcing, and promoting cheap labor offshore.
8/4/06, 10:34 PM
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Originally Posted by 1999 Black 35th GT
Jeff, sometimes I wonder how some of the members on this site get by with day to day life being so pesimistic. They'd probably cheer against their own kid's tee-ball team if they were losing.
There's no sense not knowing what's going on out there, regardless of whether we happen to like it or not.
Personally, I expect Ford WILL survive all of this, but it may emerge as a very different company. As of today's writings, they are clearly in very deep sh*t as the below statement suggests:
No wonder the Blue Oval is thinking the unthinkable. After spending some $10b trying to make Jaguar their upmarket brand (forgetting Lincoln), the British marque is now, finally, reportedly, up for sale. Industry wags also suggest that Volvo and Land Rover may be on the auction block. There’s also talk of Ford taking up GM’s offer to join the Nissan - Renault alliance– or marrying its fortunes to VW, BMW, Honda, Toyota or Hyundai. And just in case you thought these options are the result of ill-informed conjecture, Bill Ford Jr. just hired former Goldman Sachs and Bank of America investment banker Kenneth Leet as his big picture guru.
Provided Ford has enough cash to see it through these dark days, Moray Callum is the more important man in this drama. Ford’s new Director of North American car design– the man credited for the RX8, Mazda3, Mazda6, Cx-7 and CX-8– has received carte blanche to create vehicles that inspire the American public to return to the Ford fold. The company has access to sixty-five thousand automotive R&D workers in Michigan alone and a $7.5b R&D budget. Like everyone else in the Ford Empire, Callum knows that his employer has to create at least one major hit, and soon. As always, a carmaker’s future ultimately depends on its ability to make the right cars at the right time.
8/5/06, 06:05 AM
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[quote=BC_Shelby]I'll let you in on a little secret: this isn't the '80s.
As I recall, it was the U.S. government that bailed Chrysler out in the '80s - Ford and GM had nothing to do with it.
quote]
BC, I know its not the '80's, you don't need to tell me that. Thank goodness is isn't as the styles and fads back then were terrible (remember hypercolor shirts?). And to let you know, I work in the industry, and yes, GM and Ford helped out, trust me on that one. I work with several guys who have been in the business for many years, who remember those days quite fondly. It may not have been publically publized, but they did help for than you know.
As I recall, it was the U.S. government that bailed Chrysler out in the '80s - Ford and GM had nothing to do with it.
quote]
BC, I know its not the '80's, you don't need to tell me that. Thank goodness is isn't as the styles and fads back then were terrible (remember hypercolor shirts?). And to let you know, I work in the industry, and yes, GM and Ford helped out, trust me on that one. I work with several guys who have been in the business for many years, who remember those days quite fondly. It may not have been publically publized, but they did help for than you know.
8/5/06, 06:32 AM
#18
Originally Posted by 1999 Black 35th GT
Jeff, sometimes I wonder how some of the members on this site get by with day to day life being so pesimistic. They'd probably cheer against their own kid's tee-ball team if they were losing.
8/5/06, 01:20 PM
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Originally Posted by Tiberius1701
The New York Times is always looking for new talent!! He could join our friend Thomas L. Friedman!! (He is the know it all who posed the idea that it would be a good thing if GM went under-or be purchased by "Yoda". Just another one of the deluded types who get Toyota Kool-Aid by the barrelful)
8/7/06, 08:43 AM
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BC, I understand you're just the messenger but there are times when you are very gloomy. I'm not saying it's bad to be somewhat pessimistic but it seems like you are an awful lot.
But, hey, to each their own.
Now on Friedman that's a point I think we all can agree on. Then again I think that an 8th grader studying economics for the first time could come could realize that his statements are completely assinine.
But, hey, to each their own.
Now on Friedman that's a point I think we all can agree on. Then again I think that an 8th grader studying economics for the first time could come could realize that his statements are completely assinine.