Blog: Dave LeggettFord statement today

Dave Leggett | 15 September 2006

Heads-up. As expected, Ford will be making a statement today (Friday, September 15) on the acceleration of the North American Way Forward plan. Mulally (CEO), Fields (NA ops) and Leclair (CFO) will be making presentations from 9:00am-9:45am (EDT). Q&A follows. There's a press release available ahead of the event at at 7:00am (EDT). (Webcast access info.)

Ahead of the gig the UAW has announced that a deal has been done on buyout offers to 75,000 hourly paids. Not too surprising that Ford has gone down that road after GM's success with a similar package.

The pressure on Ford's management to make cost cuts deeper and faster is now immense. Credible reports are circulating (someone has been leaking...) that there will be a big downward revision on the FMC financial outlook for this year (projected loss of US$9bn - restructuring costs weighing in). Q&A could be lively.

US: Ford readying further restructuring statement


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