By on February 24, 2022

Speculators on Wall Street (where else?) have been yammering about the possibility of Ford Motor Company creating a second company for its moving-at-light-speed EV business. To that end, CEO Jim Farley had one thing to say on Wednesday:

“We have no plans to spin off our electric business or our ICE business,” he told people assembled on a finance call.

(Read More…)

By on July 7, 2017

Tesla Model 3 Duo - Image: Tesla

If Tesla stock was an airplane, it would have left Earth’s atmosphere sometime this spring. By June, that aircraft — let’s call it the Model P — would have been within striking distance of Mars. Indeed, Tesla investors made out like bandits as the company’s shares soared and its market cap sailed past that of Ford and General Motors, making it the most valuable domestic automaker.

For a while, it seemed nothing could stop Tesla’s meteoric rise. Not labor strife, not worries about the Model 3’s production timeline, not a cracked A-pillar on a freshly delivered Model S, not Model X doors trapping people inside a burning vehicle, not allegations of subpar working conditions, nothing. Tesla may as well have tried buying the rights to the word Teflon.

Well, CEO Elon Musk said it best himself in May. The company’s market valuation was “higher than we have any right to deserve,” he told The Guardian, a month before Tesla shares rose to a record $383.45. As the saying goes, “What goes up…” (Read More…)

By on May 16, 2017

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The Ford Motor Company is allegedly preparing for a sweeping reduction of its global workforce. Harder days for the auto industry have been a long time coming, but reports claim the impending layoffs are specifically related to shoring up finances and turning around the company’s lagging stock valuation — meaning Ford could be the canary in the coal mine or a lone company desperate to bolster its own profitability and get angry shareholders off its back.

While the automaker has not yet confirmed the cuts, there is every indication an announcement will be made soon. When confronted with the matter, representatives have been careful to make noncommittal statements and doubly cautious not to deny anything.

“We remain focused on the three strategic priorities that will create value and drive profitable growth, which include fortifying the profit pillars in our core business, transforming traditionally underperforming areas of our core business and investing aggressively, but prudently, in emerging opportunities,” Ford said in an official statement. “Reducing costs and becoming as lean and efficient as possible also remain part of that work. We have not announced any new people efficiency actions, nor do we comment on speculation.”  (Read More…)

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