We didn’t get to go to the World Mobile Congress in beautiful Barcelona, Spain, but it may have been nice to catch both the unveiling of the Ford B-Max and a keynote speech given by Bill Ford, executive chairman of Ford Motor Co. Ford (the man, not the company) outlined an overarching vision for helping manage the estimated 2 billion cars that will be on the road by 2050.
Tag: Bill Ford
After four straight profitable quarters, Alan Mulally’s forecast today of a “solidly profitable” 2010 shouldn’t come as a huge surprise. But, as Executive Chairman Bill Ford put it to Ford shareholders at the company’s annual meeting [via AP],
It is the very early days in our recovery. We still have a lot of debt
And he’s not kidding. As of the end of Q1 2010, Ford was carrying $34b in debt. And though Ford faces a higher cost of borrowing because of its staggering debts, Bill Ford was clear that he wouldn’t trade places with Ford’s Detroit competitors, which cleaned out their balance books, at the expense of government bailouts and accompanying PR problems. After all, while GM and Chrysler were rebuilding, Ford managed to outperform both of them last year by gaining sales and market share. And Ford’s leadership sees that momentum carrying forward into next year.