Following is an article sent to the Editor of the Financial Times:
Sir,
It seems like your editors have forgotten the large spread given to Bill Ford on taking over, describing the power and magic of family ownership, when it comes to managing companies (“Ford considers outside help to revitalize ailing business” Financial Times, September 4, 2006).
Long term commitment, investment for the future, concern for employees, as I remember, these were some of the arguments that came out in the spread. Nothing said about the real secret to the Ford family management, especially in trying times, decisions that are made badly and late.
Ford shareholders, including the Ford family, will be well served by professional management. Looks like Bill Ford has finally come to the same conclusion.
Onésimo Alvarez-Moro
See article:
Ford Motor needs a new business model and may turn to outside executives and alliances with other carmakers to help implement it, according to Bill Ford, the troubled group's chairman and chief executive.
In a memo to Ford's 300,000 employees before an accelerated turnround plan to be unveiled this month, Mr Ford warned that "the business model thatsustained us for decades is no longer sufficient to sustainprofitability".
Ford reported a $1.3bn (£680m) loss in the first half of this year, caused mainly by problems in the critical North American market.
Its share of US light vehicle sales dipped to 16 per cent in August, from 18.1 per cent a year earlier and a peak of more than 25 per cent in 1995, according to Autodata.
See full Article.
Posts
