I was excited to hear that Martha Ford is stepping down as owner of the Lions, until I heard who the replacement will be. Sad.
3 replies (most recent on top)
When it comes to Ford you have to ask yourself this question. Is Ford a truly public traded company or a Kingdom? As the person said earlier ignore history and it will repeat itself. Billy ran the show between 01-06. A time when most of the other OEMs made money. NA Car sales reached 17mn units and Ford still lost market share & profits. In 06 Billy was pretty much forced out by his own family. even threats if he did not step down they would sell the preferred stock. In steps Allan. An engineer. turned the company around. confident had a simple plan anyone could understand. was able to get rid of the dead wood PAG & Mercury. Some of you may recall when Allan first came in he mentioned selling PAG and it was the same Billy who said NO. Fast forward to 07 we dumped those boat anchors. Billy maybe a nice guy. but he nor anyone in his family understand the business. Here we are a again a one trick pony F-Series. It was the ford family that bought JAG. Then CEO Donald Peterson was dead said against it and retired one month after Ford bought it. We lost over $25+bn on that decision.
So Ford purchase the largest crack house in that train station 2 years ago. It was Billy at the 2019 auto show event talking about looking for investors in the train station.. has anyone seen any major investors in that mess? I haven't. So now you have Elena & H3.. So does anybody really believe if their name was not on the side of the building they would be where they are now? Keep in mind it was H2 who fired Sperlich & Iacocca when Ford had the mini van and FWD cars in the cycle plan. So a King is not born he is made.
There is an old saying that goes when you ignore history you have a tendency to repeat. Since Allan retired 18 months ahead of the date he stated in 2013 (12/15). Billy has stepped in to pretty much run the show. He hires a man with "ZERO" background in engineering or Cars, ok this is the same guy who laid off over 3/4 of the workforce at Steelcase, and the stock price never really changed (look at the historical stock price). Then the Ford press machine spins this guy as a tech "GURU" .. Come On Man.. he ran a furniture company,, not Google...What is High tech about that? What is embarrassing is we reward this guy like Allan. Excuse me but you cannot blame the virus for the stock. even before the pandemic the stock price was below $10. BTW How do you loose $2bn when you we closed for no more than ten working days? Sounds like they shuffled money around. So if we lost $2bn for lets say ten days. what do you think loses will be for 60 days??? We use their math we be chapter 11. Ford use to play to win. Now we just get by.
The family is comfortable with loosing with the Lions. They still get pay by the NFL. The lions are the other team play to get a sure win. Over paid for Stafford.
That same mentality carries over to the family business. You had a monopoly for decades with one of three main mfg. in the U.S. You choose to short the public in the name of profit over and above. The foreign companies came in and steal market share. Now you are force to produce a better product and your not as PROFITABLE! Your trucks are a house note. What?
The family went and hired a smoocher in their back yard which makes furniture. Hmmm OH yes, they totally fumble (lions) the new Explorer launch. Now why did you hire a furniture maker to run an auto company with large capital expenditures? It is no Boeing.
I am willing to work on a contingency. 10% - 30% of Gross Revenue to turn your company around. Say TESLA? No net, until management is clean out. Then NOI.