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March 6, 2021
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FORD-SHAREHOLDERS
(2007-05-10)
(wgvu) - FORD PRESIDENT AND CHIEF EXECUTIVE ALAN
MULALLY HAS RECEIVED SOLID REVIEWS AS HE GUIDES HIS
COMPANY THROUGH A MASSIVE TURNAROUND PLAN.
HE MAY LEARN TODAY WHETHER SOME SHAREHOLDERS THINK THE HONEYMOON
IS OVER.
MULALLY WILL UPDATE INVESTORS AT FORD'S ANNUAL SHAREHOLDERS'
MEETING ON THE COMPANY'S "WAY FORWARD" RECOVERY PLAN. HE HOPES TO
RETURN DEARBORN-BASED FORD TO PROFITABILITY IN 2009.
BUT FORD LOST 12-POINT-SEVEN BILLION DOLLARS IN 2006, THE
BIGGEST LOSS IN ITS 103-YEAR HISTORY. SALES ARE OFF NEARLY
13-PERCENT THIS YEAR.
MULALLY SUCCEEDED BILL FORD -JUNIOR AS C-E-O IN SEPTEMBER. SINCE
THEN, FORD HAS MORTGAGED ITS FACTORIES, BRAND NAMES AND OTHER ITEMS
TO SECURE A 23 BILLION-DOLLAR LINE OF CREDIT.
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