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Originally Posted by Moby Vic
As far as I know, the Explorer debacle remains the costliest automotive recall in history. It cost Ford more than $1B.
The good that came from it was that it got rid of Jac Nasser, who cared about everything but building Ford vehicles, and that it forced Ford to become leaner ahead of the financial crisis that nearly destroyed GM and Chrysler.
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Ford are making 6-8 bilion per quarter profit, they are extremely strong at the moment and have cash reserves of something like 20 billion. Debt is something like 15 billion?
They are in a very strong financial position, if Europe gets out of the red it will be even more so.
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Originally Posted by jpd80
Jac Nasser is currently CEO of BHP Billiton, probably the world's biggest miming company..
Nasser and Ford were a bad mix,all of that is best left in the past as that Ford company died at the end of 2006
and was reborn in early 2007 as a new invigorated company with a plan and the right people to do it.
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I was suprised Jac the Knife didn't do too good for Ford US, he did a really good job when he was FoA CEO. He was also the man who bought the V8 back to Falcon
