Around the Net

Ford Chief Says Small Is Beautiful

The New York Times, Friday, January 26, 2007 12:45 PM

In announcing a record loss of $12.7 billion last year, Ford CEO Alan R. Mulally signaled yesterday that the bigger-is-better worldview that has defined Ford for decades is being replaced with a new approach: less is more.

Ford's market share dropped to 17.5% in 2006, and forecasts show it may fall from second to fourth place this year in the American market, behind General Motors, Toyota and Chrysler.

Mulally says that "dealing with reality" is at the top of his list of priorities. But Mulally is trying to be both optimistic and pragmatic, creating a sense of urgency, while reassuring his anxious workers that the company has a future. He said yesterday that the money and plans for a turnaround are in place.

Read the whole story at The New York Times »

Next story loading