Gaining Respect for Ford

By Kevin C. Donnelly

Rarely, if ever do I commend a company when they post an extremely large loss, but I feel it prudent to do so today.  I would like to acknowledge Ford Motor Company’s announcement today, on the heels of a fourth quarter loss of $5.9 billion dollars that they will not be seeking government loans for assistance.  Ford has also reached agreements to end the Job Banks for the UAW.

It is a strange time indeed when I find myself tipping my hat to a company who reports massive losses.  However, CEO Allen Mulally had taken steps even before the economy started to take a quick downward spiral to shore up Ford’s liquidity.  He previously had performed extremely well as the CEO of Boeing.  There are steps being taken by many companies and by the government which I am vehemently opposed to, and Ford has made missteps as well, but they have done remarkably well as opposed to their counterparts at GM and Chrysler.  Their refusal to take money that Congress has all but tried to shove in their pockets has given me a greater respect for the company.

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