Archive for Wednesday, November 4, 2009
Ford success
November 4, 2009
Advertisement
It’s not just hometown pride that makes us glad to see the positive financial numbers being posted by the Ford Motor Co.
We take a special interest in Ford’s success because the company is led by Alan Mulally, who grew up in Lawrence and is a graduate of both Lawrence High School and Kansas University. But what Mulally is accomplishing at Ford is well worthy of applause even outside his hometown.
While Chrysler and General Motors were accepting billions of dollars of federal bailout money, Mulally took a pass, saying the company had a plan to restore its financial stability without declaring bankruptcy or using federal funds.
Tough decisions were involved, but they have paid off for Ford, which, on Monday, posted a $997 million profit for the third quarter of this year. It was the first time the company had reported a profit since the first quarter of 2008.
Tuesday brought more good news for Ford. Auto industry analysts had predicted that despite Ford’s profit figures, the company still would report a decline in vehicle sales of about 3.5 percent for October. That wouldn’t have been particularly disappointing, given the current economy, but the analysts were in for a surprise. Figures released Tuesday showed Ford’s U.S. sales were 3 percent higher than a year ago and up 21 percent from September. By comparison, Chrysler reported a 30 percent decline in sales from last October.
Mulally accepted Ford’s turnaround with his usual modesty, saying, “we still face a challenging road ahead.” He noted, however, that “our transformation is working.”
Mulally, who left his job as chief executive officer of Boeing to take the reins of Ford in 2006, always presents an optimistic outlook. He has a ready smile and is always envisioning a brighter future for his companies.
He’s probably not the only business leader who does that, but Mulally, much more than most, seems to have the plan and the intelligence to turn that brighter future into reality. The turnaround for Ford is all the sweeter because he was able to do it without accepting taxpayer subsidies. He did it the old-fashioned way, depending on basic principles of capitalism, trimming less desirable products and cutting overhead to make his company more profitable.
It goes without saying that Mulally’s work with Ford is an example that others should — and, in all likelihood are trying to — follow. The modest Mulally should take a bow for accomplishing what many observers thought was impossible at Ford.
More like this
- Massive challenge December 1, 2006
- Ford CEO and KU alumnus Alan Mulally says automaker 'doing great' 15 comments / April 29, 2009
- Car giant remains viable 2 comments / July 24, 2009
- Lawrence native to steer auto giant 31 comments / September 6, 2006
- Ford leadership 75 comments / December 12, 2008
Top ads RSS
- HR Assistant - Cottonwood Inc.
- Customer Service Representatives • Various shifts available • Monday - ...
- Part-time CNA needed immediately to help our elderly clients in ...
- Tax Prep Help Wanted Full-time, Temporary Position for the 2009 ...
- HOLIDAY RUSH $400/$600 week. 30 openings available in various departments ...
- Blog: Songs And Lyrics: It's A 'Musical' Monday! November 30, 2009 · 25 comments
- Push to privatize is on the table November 30, 2009 · 18 comments
- Blog: A Snootful Of E-Mails November 23, 2009 · 41 comments
- Pelosi, Reid leadership warrants praise November 30, 2009 · 6 comments
- Medical marijuana blurs legal lines November 30, 2009 · 26 comments
- St. Louis prep Beal chooses Florida November 30, 2009 · 7 comments
- Check, please! Negotiating restaurant traffic a delicate art November 30, 2009 · 12 comments
- Suspect arrested in slayings of wife, daughters November 30, 2009 · 9 comments
- On the street: Have you ever felt like a restaurant staff tried to rush you? November 30, 2009 · 32 comments
- Turbulence ahead: Senate to begin health care debate November 30, 2009 · 21 comments
- KU coach Self perks up ailing Texas youth November 30, 2009
- Play school: Check out tips for buying ‘smart toys’ for children November 30, 2009
- Decorated trees to take bow in annual holiday fundraiser November 30, 2009
- St. Louis prep Beal chooses Florida November 30, 2009
- Audience builder: Former producer develops new, local markets November 30, 2009
- A labor of love shines brightly November 30, 2009
- Hotel group names director of rooms November 28, 2009
- Mangino not living on his knees November 29, 2009
- Uncertainty surrounds Kansas football November 30, 2009
- 6News reporter decides to follow father’s footsteps November 28, 2009
Post a comment
Requires free LJWorld.com registration. Register or log in below.
Read our full policy. Also, read about banned accounts and harassing comments.
Post a blog entry
You have to be logged in to blog on LJWorld.com. Please log in or sign up.
Learn more about blogging on LJWorld.com.