Who says the British don’t have a sense of humor? When they aren’t busy gushing over an archaic Royal System or working hard to destroy the auto industry and trencherman jobs through BREXIT, a laugh comes forward. (Brexit Panic Takes Hold. Auto Industry Urges – Begs? – Negotiators to Avert the Business Killing Worst-Case Scenario)
Consider that a new McLaren has been spotted during dynamic testing ahead of its introduction in January. The car’s brick-based construction has made it necessary for development to move from McLaren’s usual secret facility near Idiada in Spain to a busy LEGO Store in Central London. Continue reading
Restructuring Storm Building as Ford Announces Senior Retirements in Treasury, Product Development, Manufacturing
The future in North America, maybe. The problem remains that big trucks are not saleable globally so there is no way to hedge this gas-guzzling bet.
Ford Motor Company announced late yesterday the retirements of three long-serving global executives – Kenneth R. Kent, 64, vice president and treasurer; Joe Bakaj, 56, vice president, Product Development, Ford of Europe; and Bill Russo, 56, vice president, Manufacturing, Ford of Asia Pacific – effective at the end of the year.
A couple of the exits are noteworthy for signaling that major disruptive actions are about to occur. For example – was Kent responsible for floating the addled-brained idea that Ford Motor would cut its dividend that Ford Family members depend on? Nevertheless, the pressure remains for Ford to cut costs and start once again, yet again on a restructuring plan to increase shareholder value and boost a ~$9 per share price of common. Continue reading →