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Ford $1 Billion Profit in Quarter; Launch Fiesta

Monday, April 26th, 2010

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Who says planes and cars having nothing in common? When Alan Mulally joined Ford some 4 years ago as its CEO, that was the question du jour. Mullaly most likely will stand up to a microphone tomorrow and simply state that Ford earned $1 Billion during its last quarter.

There won’t be balloons bursting, cakes being sliced and champagne flowing. Rather Mulally’s approach is deceptive: Stay focused on what you do best. Mullaly is also proof positive the influence one person can bring to a company, even a company as bad off as Ford once was.

Ford still has $31 Billion in debt and some $350 per car sold covers interest payments on that debt. That is why Mulally is keeping a low profile and as Bill Ford Jr. said earlier, “I doubt we will ever get back to the times of spending frivolously no matter what happens.”

What Mulally is more excited about is Ford’s launch of its Fiesta model. With GM outselling Ford 3 to 1 in China (which now sells more cars that the U.S), Mulally is hoping this is the vehicle to gain market share worldwide. It’s fun, it’s colorful, it yells youth. Did one ever think a Ford would mean fun, colorful and/or youth?

Naturally this is good news for Detroit. More importantly, the story delivers a strong message: Regardless how low and down you are, there is always an opportunity to turn things around. If Ford can do, anyone can.

Happy Monday!

Posted in Alan Mullaly, Ford | 2 Comments »