The American Spectator

Kitty| 4.9.09 @ 8:17AM

GM's CEO Fritz Henderson was on Cavuto the other day looking and sounding the the kid who had just had an attitude adjustment behind the woodshed. The interview was pathetic and frightening.

I wish Ford's Alan R. Mulally all the best. But with Uncle Bam doing whatever he damned well pleases, and needing to subjugate private industry, the odds are stacked against Mulally.
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Ryan| 4.9.09 @ 8:31AM

Ford stock is up almost 50% in recent weeks, up from about $1.50 low. HIGHLY undervalued, even near $3, IMHO.

It wasn't just the recent turns - they've been on a decent track for some time now. They're separating more from Mazda, were the first to work something out with the UAW, and they committed to not paying the execs until they return to profitability. They've recently cleared some more debt, and were streamlining models and getting rid of baggage. They don't have the dealer overload that GM does.

TONS of right decisions, very few wrong ones, and they still sell more trucks - the F150 - than anyone else.

My next vehicle, in 3-4 years, may very well be a Ford.

Curly Smith| 4.9.09 @ 8:46AM

Fritz Henderson has a reason to be pathetic. The CEO of Lackey Motors now realizes that he's in a lose-lose position. If he does what Obama demands then his company will fail, but if he doesn't do what Obama demands then his company will fail. And, when his company fails, then he, and not Obama, will take the blame and he'll likely be prosecuted theft of public funds.

Aaron| 4.9.09 @ 9:39AM

I'm not ready to raise a toast to Mr. Mulally yet and certainly not call him a hero. Remember he is the same guy who was pleading with Uncle Sam to not let GM and Chrysler fail for if it does it will "bring down the whole industry". Mullaly was essentially the big brother dragging the little brothers to daddy needing some money because they blew it.

He knew then and now that if those two companies would have chosen the route of bankruptcy protection and reorganization, Ford would have probably been drug down with them. We could argue this point all day long (and probably will on this discussion board) that reorganization would have most likely allowed all three companies to reemerge stronger, cheaper and a lighter quite shaken up UAW. Uncle Sam would not have allowed the big three to fail under bankruptcy protection just as they haven't under bailout. The difference would have been concessions in unions and management not the senate and the house.

Dustoff| 4.9.09 @ 10:06AM

I'll bet you Boeing is sorry they let Mr. Mulally go.

Irish Spectre| 4.9.09 @ 4:02PM

...and all this time I thought that I was the only one in America who believed this was a story worth telling! Leave it to a fella named Thirsty to do the honors!!

"...beng a little too loose with the cash when I did have it: buying drinks for friends, picking up the tab and trying to impress girls. Some of it I wasted too."

...best line I've read all week.

Matthew Vadum| 4.9.09 @ 4:53PM

Would Thirsty McWormwood happen to be a fan of absinthe?

delicia Dawn Lewis| 4.9.09 @ 5:05PM

"So I raise my martini glass to him. There aren't many heroes in this recession, but it's nice to know there is at least one" This statement makes me sick !
In 2006 when your hero was brought into Ford Motor Company, he was advised on the issues Ford, Lincoln and Mercury's were having with Fire! Alan R. Mulally turned his back on the defective cruise control issue, choosing not to recall all of them at once, as to not scare off the consumer ( great business move). Unforgivably a death sentence for those loyal consumers that bought and drove Ford Motor company brand cars/trucks/vans /RV's.
I know a real hero, His name is Payton Tyler Lewis, he was 22 years old, he had just sold all his possessions to start a NON-profit, helping the homeless, disabled, and the disadvantaged. He also tours the villages in eastern Europe, planning to help out with 33 orphanages in extreme poverty. and I could go on and on about his heroic acts, but his final act of heroism cost him his life. The Lincoln, he was driving caught fire/ defective cruise control switch. Payton left the road, screaming for his girlfriend to jump out the window, the car slid into two trees, Payton and Samantha were trapped in a burning car, Samantha's leg was stuck, and she made half way out the window, Payton cracked open his door, then a second fire ignited on the right side. Burning them alive. Payton could have just jumped out of the car, but he would'nt leave Samantha stuck in the car. That's a real Hero.
Alan R. Mulally might be a great guy, but that $20.00 part he saved X millions of cars. killed my son. And Alan R. Mulally, has never contacted me, or my family. Nor has Ford Motor Company ever expressed any compassion or responsibility to us. deliciadawn@yahoo.com

Robert Rosencrans| 4.9.09 @ 6:23PM

If Mr. Mulally arrived in 2006, recalls on the defective switch were widened in 2007 and earlier recalls had been completed as early as January 2005. It appears that Ford did all they could. These cars require thousands of parts to come together and some become defective in use.

http://www.usautoinjurylaw.com/cases/fires/ford-fire-recall.htm
On August 3, 2007, Ford Motor Co. again expanded the recall of Ford vehicles due to problems associated with the speed control deactivation system. The latest recall included several additional model years of some vehicles previously affected by the switch recall, as well as a few new models of cars, trucks and SUVs, for a total of 3.6 million vehicles recalled. Owners of the vehicles included in this recall will receive notices in the mail urging them to visit dealers to install a corrective fused wiring harness to repair the allegedly defective cruise control switch.

Customers may also contact Ford directly at 1-888-222-2751 or the National Highway Traffic and Safety Administration's (NHTSA) auto safety hotline at 1-888-327-4236.

The August 2007 recall greatly widens the scope of previous Ford recalls made in March 2007, August 2006 and January/ September 2005. The March recall consisted of 155,000 2003 model year trucks, SUVs and cars. The January recall consisted of almost 800,000 Ford pickups and sport utility vehicles, including model year 2000 Ford F-150s, Ford Expeditions and Lincoln Navigators and 2001 F-Series Super crew trucks made at the same time, while the September 7, 2005, recall included 3.8 million full-size pickup trucks and sport utility vehicles.

NHTSA first opened an investigation into the alleged switch defect in November 2004. In March 2005, NHTSA began a second investigation of the issue, this time including Ford F-150 pickups from 1995-1999 and 2001-2002 model years, and Ford Expeditions and Lincoln Navigators from the 1997-1999 and 2001-2002 model years. The 2005 recall came less than two weeks after consumer advocate Ralph Nader criticized Ford for delaying action on the issue. Up to that point, NHTSA had received more than 1,000 complaints of engine fires linked to the faulty switch.

Roy| 4.9.09 @ 6:46PM

I still don't get the logic by which, if GM collapsed, Ford "would be dragged down with them". Logically, why? Wouldn't that leave GM's market share and trained work force available for Ford to pick up?

Granted it might take down a couple suppliers - but those are even more screwed than the Big 3 themselves. Visteon's stock was down at 3 cents before the latest bailout and even now it's only 15 cents. If the government quit bailing them out they would collapse and other suppliers could survive by taking their business. As it is, endless government bailouts keep them going just enough to drag their competitors down with them, without bringing them any closer to profitability, and at a cost of umpty billion dollars to the taxpayers. Yay socialism.

Jeff Daniels| 4.9.09 @ 6:48PM

Great stuff! Too bad we don't have more Mullalys! I haven't driven a Ford lately, but I'm seriously considering it ...

Frodo| 4.10.09 @ 2:13AM

Haha, what??? "Still, there are times when you need to walk past the neighborhood bar and off to some side street lounge." Yeah, because normal bars will NEVAR give you whiskey and beer. You have failed.

Plumee| 4.10.09 @ 5:19AM

Good article....one correction. Mulally gets paid a dollar a year only if Ford asks for government funds

delicia lewis| 3.8.11 @ 5:46PM

You might want to check your resources, because the reports state almost 20 million. He might have taken $1 for a moment, but he changed his mind quickly.

Cato| 4.14.09 @ 2:53PM

Good for Mullaly for taking the appropriate financial steps to save the company, but at the end of the day there is one simple thing he needs to do: build cars that people want to buy. Grow up "Thirsty"; throwing mud at a president who has been in office for three months rather than looking at a generation of Detroit's mistakes is absurd. If Ford survives it will because they build a car people want to drive- and yes, that likely means hybrid or electric. And if they fail, well, then there will likely be dozens of nimble start-ups, like Tesla, following in Henry Fords tradition. I raise my glass to the entrepreneurs who are not afraid to fail.

Richard Baker| 5.2.09 @ 9:47AM

Mulally comes from the aircraft industry where re-adjustments are a way of life. Unlike the car executives who seem to assume that everything will always be, those of us in the aircraft business expect life to be fluid and so are prepared to shift gears and be prepared for change. Quite frankly, Mullaly and his bretheren have been working in a global economy since almost the beginnings of flight. Nimbleness and forethought are norms. Is this an absolute? No, but these people understand the transient nature of business and act accordingly more often than not. Now, if we can just get the government the hell out of the way we'll still lead the world in aircraft enterprises and technology

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