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Ford not ruling out sale, partnership: magazine

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Ford not ruling out sale, partnership: magazine

Tuesday April 17, 12:28 pm ET

DETROIT (Reuters) - Ford Motor Co (NYSE:F - News) has not ruled out an eventual sale or partnership as the automaker cuts jobs and closes plants in an effort to recover from billions of dollars in losses, Ford's executive chairman told a magazine in an article published on Tuesday.

Bill Ford Jr. told Conde Nast's Portfolio Magazine that the second-largest automaker, which lost $12.7 billion in 2006, last year considered all options to finance its restructuring.

"Merge with another company, go it alone, sell off the brands, have the family pull out and get rid of their B stock -- there are a billion things that could've happened," Ford told Portfolio.

"And there is still a big wide world of things that can happen in the future," he added.

Ford is in the middle of a sweeping restructuring that includes slashing more than 45,000 jobs and closing more than a dozen facilities in North America.

In an article titled "Driven to the Brink," Ford said he "literally didn't want to get out of bed" some mornings as the company explored its options.

Frustrated by the bureaucratic culture at the company and looking for new leadership, Ford said he reached out to now DaimlerChrysler AG (XETRA:DCXGN.DE - News) Chief Executive Dieter Zetsche and to Nissan Motor Co Ltd (Tokyo:7201.T - News) and Renault SA (Paris:RENA.PA - News) CEO Carlos Ghosn. Both men turned down the position of chief operating officer.

Ford in September recruited Alan Mulally to head the company, handing over the position of CEO to the former Boeing (NYSE:BA - News) executive.

After Mulally initially turned down the job, Ford recalled slumping in a chair with a blank pad of paper. He said he was "silent and devastated. I had no plan B."

After Mulally took the helm, Ford raised $23.5 billion to fund its restructuring by mortgaging most of its automotive assets.

Still, Ford told the magazine neither he nor Mulally ruled out an eventual sale or partnership for the company.

"We felt the best thing we could do was get our house in order," he said. "That doesn't preclude anything down the road."

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Maybe Ford and Chrysler should merge, then they could be the biggest automaker in the world with the more problems than any company has ever seen in history :P

Seriously though, Ford seems to be in slightly better shape than Chrysler, at least in terms of future products that look promising (though neither company has many), plus having the F-150 helps out a ton.

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Maybe Ford and Chrysler should merge, then they could be the biggest automaker in the world with the more problems than any company has ever seen in history :P

Seriously though, Ford seems to be in slightly better shape than Chrysler, at least in terms of future products that look promising (though neither company has many), plus having the F-150 helps out a ton.

Well Chrysler actually has an idea what they are doing. They did an impressive update with the Dakota and fixed it's biggest problems (ugly nose and luckluster engine), made the Durango very handsome, wll give it a Hybrid, are working on a new crossover, and acknowledge their recent interiors sucks, so are doing something about it. What has Ford done besides show us nice concepts, not build them, and do name changing? Ford's in as big if not bigger of a mess.

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Well Chrysler actually has an idea what they are doing. They did an impressive update with the Dakota and fixed it's biggest problems (ugly nose and luckluster engine), made the Durango very handsome, wll give it a Hybrid, are working on a new crossover, and acknowledge their recent interiors sucks, so are doing something about it. What has Ford done besides show us nice concepts, not build them, and do name changing? Ford's in as big if not bigger of a mess.

I think the Dakota is worse, the Durango is still not close to being competitive with the T900s, the crossover we don't know if it's good or not (did it get a crappy interior or a "new, good interior"), and their interiors are going to suck for a long time still until they can change them over.

Ford also appears it has a hit with the Edge and possibly another one with the Flex. The LX cars are still doing ok, but what else is going to stabilize Chrysler? The new minivans I guess, but their vans already sell very well. The F-150 outsells the Ram by a large margin, the Expedition is superior to the Durango... the only thing Chrysler seems to have is the some of the Jeep line.

It's hard to say which is worse off because both are in bad, bad shape. We could argue all day but I don't think it's worth it.

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I think the Dakota is worse, the Durango is still not close to being competitive with the T900s, the crossover we don't know if it's good or not (did it get a crappy interior or a "new, good interior"), and their interiors are going to suck for a long time still until they can change them over.

Ford also appears it has a hit with the Edge and possibly another one with the Flex. The LX cars are still doing ok, but what else is going to stabilize Chrysler? The new minivans I guess, but their vans already sell very well. The F-150 outsells the Ram by a large margin, the Expedition is superior to the Durango... the only thing Chrysler seems to have is the some of the Jeep line.

It's hard to say which is worse off because both are in bad, bad shape. We could argue all day but I don't think it's worth it.

They both need a lot of work, we'll leave it at that :P

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Well Chrysler actually has an idea what they are doing. They did an impressive update with the Dakota and fixed it's biggest problems (ugly nose and luckluster engine), made the Durango very handsome, wll give it a Hybrid, are working on a new crossover, and acknowledge their recent interiors sucks, so are doing something about it. What has Ford done besides show us nice concepts, not build them, and do name changing? Ford's in as big if not bigger of a mess.

Ford isn't get sold for a couple billion (or -3 billion). They have good overseas model that will hopefully make it here (they're established worldwide is what I am saying). They have a pretty successful trio of crossovers. Their pick-ups of course. Fusion is a decent car.....and that's pretty much all I can be optimistic for with ford. I am predicting that in a yearor two though, they'll be close to the point where GM is today (a year after its 10+billion loss).

I don't think I can be that optimistic about Chrysler. GM's stronghold is trucks (SUVs), Ford's is pick-ups and Chrysler is.. minivans? LX cars are aging but are still good. Avenger/Sebring are decent cars like the Fusion but I just don't think they'll appeal to most Americans. New Dakota and Ram can't come soon enough. And of course I can't even predict where Chrysler will be in 1 or 2 years. Up in Canada with Magna? F*cked by Kerkorian? Completely dead except for Jeep? Who knows.

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Maybe Ford and Chrysler should merge, then they could be the biggest automaker in the world with the more problems than any company has ever seen in history :P

Seriously though, Ford seems to be in slightly better shape than Chrysler, at least in terms of future products that look promising (though neither company has many), plus having the F-150 helps out a ton.

They're both in bad shape and its nearly impossible to tell which one is "worse" because in five years there's a chance that BOTH of them will be out of business.

Personally I'm more inclined to think that Ford is in worse shape only because its been in terrible shape for so long, whereas Chrysler's only recently gotten into its mess.

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"Frustrated by the bureaucratic culture "

An organization that existed for too long, made too many unspoken rules.

Ford really needed this massive revolution they're doing now.

Ford needs to rewrite their car production process, from sketch to finish.

Massive firings really is the only way to go. You can't change the minds of thousands of people at once. Just get rid of them and get new ones, who are willing to build a new modern culture.

It also sounds like a stronger dictatorship is needed. One man should have absolute power. I hope Mulally is given that power.

Edited by JT64
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"Frustrated by the bureaucratic culture "

An organization that existed for too long, made too many unspoken rules.

Ford really needed this massive revolution they're doing now.

Ford needs to rewrite their car production process, from sketch to finish.

Massive firings really is the only way to go. You can't change the minds of thousands of people at once. Just get rid of them and get new ones, who are willing to build a new modern culture.

It also sounds like a stronger dictatorship is needed. One man should have absolute power. I hope Mulally is given that power.

you are probably right.

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I don't think I can be that optimistic about Chrysler. GM's stronghold is trucks (SUVs), Ford's is pick-ups and Chrysler is.. minivans? LX cars are aging but are still good. Avenger/Sebring are decent cars like the Fusion but I just don't think they'll appeal to most Americans.

One look at L.A. streets makes me wonder what's up with the rest of the country.

Every 8th car is a Charger.

Sebring and Avenger showed up on the streets right after their respective commercials premiered.

All three are pretty popular here. And none of them are rentals.

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One look at L.A. streets makes me wonder what's up with the rest of the country.

Every 8th car is a Charger.

Sebring and Avenger showed up on the streets right after their respective commercials premiered.

All three are pretty popular here. And none of them are rentals.

Cool...good to hear about an American brand selling apparently well in So Cal. I remember seeing quite a few Chargers around when I was in LA last April... lots of modded ones also.

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One look at L.A. streets makes me wonder what's up with the rest of the country.

Every 8th car is a Charger.

Sebring and Avenger showed up on the streets right after their respective commercials premiered.

All three are pretty popular here. And none of them are rentals.

That's funny... a lot of the country has been wondering what's been up with California? What's good in one market does not make it universally acceptable for the rest of the country. If success was strictly based on the LA/Cali market, then Chrysler should be rolling in riches and dominating the market... when in reality many consider it on life support.

And before I get flamed for this comment, there are several members on here from California that readily discredit other market preferences due to those regional trends not matching California's trends. This is just an example where California's market is not correctly representing the reality of the whole market.

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Maybe Ford and Chrysler should merge, then they could be the biggest automaker in the world with the more problems than any company has ever seen in history :P

FORDSLER?

Found On Road Dead Leaving Everyone Rooked

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FORDSLER?

Found On the Road Dead & Stinkin' Leaving Everyone Rooked

Fixed it for ya.
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Fixed it for ya.

Thanks, didn't realize I forgot the "S" :AH-HA_wink:
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One more indication that the media has successfully 'off-ed' 2/3s of Detroit. They tried with GM as well, but GM was still a bit too strong. Give it about 5-10 years though and I'm sure we'll all be buying Toyotas and talking $h! about Detroit with all the other self-loathing yuppies.

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One more indication that the media has successfully 'off-ed' 2/3s of Detroit. They tried with GM as well, but GM was still a bit too strong. Give it about 5-10 years though and I'm sure we'll all be buying Toyotas and talking $h! about Detroit with all the other self-loathing yuppies.

oh c'mon, FOG, one key thing you are missing. the yuppies do love THEMSELVES.....they just loathe everyone/thing else. grass is always greener.

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