Ford CEO Alan Mulally Oral Testimony

 
 
 
 
 
Value This
Doc
Scribd
Average
     
Pages: 3 43
Words: 854 13640
Characters: 5002 81678
Lines: 18 623
     
     
Letters per word: 5.86 5.99
Words per line: 47.44 21.89
Words per page: 284.67 317.21

Add to your reading list

Flag_red Flag this document

Document Information

4,500 Reads | 8 Comments

Description

Alan Mulally's testimony to Congress on December 4, 2008.

Pdf_16x16 3 Pages


Date Added

12/04/2008

Category

Uncategorized.

Tags
Groups
Awards

Award_star_gold_2 Featured Flame Rising

Copyright

Attribution Non-commercial

More info »

 

or use Facebook Connect

Quent2000

I have great idea for new line of SUV's

08 / 29 / 2009

Quent2000

Would Like to contact Alan Mulally tell me how

08 / 29 / 2009

tigrman

I am advising you that a representative of your Company, Ford Motor Credit has called my home three times. I do not have an account with you. The caller was asking for information about my next door neighbor. The first call was from Ford Motor Credit, at 11:19 am, 05/06/2009 from 813 740 8600. The second was today, at 12:47 and the third at 12:48. I advised the caller yesterday that I had no information for him about my neighbor, that I was on the National No-Call Registry and not to call my home again. The first call today he said that he had information that my neighbor had moved. I asked, why are you calling me again? I advised that I was calling the Attorney General’s Office and hung up. He called back one minute later and told me to tell my wife and mother to go “F*** themselves”. I called the number on my caller ID and asked to speak with a supervisor. I spoke with a Mr. Hart and he said it would be nearly impossible to identify the caller. I never even received an apology. I intend to pursue this matter at every avenue available.

05 / 07 / 2009

muff112

Go Alan Mulally. We hope you don't have to take one cent from the United States Government. You certainly have our support. Most Sincerely, Earl and Mary Reed

04 / 09 / 2009

no_slappz

Ford, GM and Chrysler need cash coming in from two directions: First, the companies want a big pile of dough right now to pay operating expenses. But, as we know, paying Detroit to build more cars than the market demands makes things worse. Detroit also needs more car buyers. It looks like only 10 million or 11 million vehicles will sell this year. Detroit appeared shocked at the news. Why? Because it started the year believing 15 millin vehicles would sell. Whew. Big error on somebody's part. I suppose The Big Three will blame some college intern for the error. They'll say something about the bright kid they hired who had degrees from Harvard and MIT and knew everything about cars before he got to high school. They'll say they thought he was the Bill Gates of Cars, so they asked him to estimate sales for 2008, and, hey, the poor kid got it wrong. What can you do? Anyway, the other money source Detroit needs -- desperately -- is the money coming in from buyers. But who has credit today? Can anyone with a Credit Score below 700 get a car loan? Bottom line: Detroit is desperate to see credit given to people who are bad risks. Those are the people who were taking No-Documenation Subprime Loans for the last several years. Well, where are they today? What lender is going to give them money now? Detroit is desperate for a new population of deadbeats and near-deadbeats to buy cars. Otherwise, the only people prepared to purchase vehicles are those who are likely to buy Hondas, Toyotas and other names that are not domestic or owned by The Big Three. With people losing jobs left and right -- 12,000 layoffs at ATT, thousands more at other companies -- where are the buyers? Out of work. That's where.

12 / 05 / 2008

no_slappz

Ford has offered it fantasy plan to Congress. Congress should just say NO. Among the hundreds of problematic statements made by Ford management in this bizarre document there is one that that is a true shocker: Ford stated that money received from taxpayers must be subordinated to other debt. Specifically, if things don't work out, Taxpayers are next-to-last in the line of creditors waiting for repayment. Ford says that Senior Secured debt held by certain creditors would automatically fall into default status if Taxpayers were granted higher status in the credit structure. This is true. Standing in the Credit Structure is handled this way. But that alone is enough reason to let Ford solve its problems without help from Taxpayers. Aside from this troubling reality, the entire Blue Oval Plan is nothing more than Promises, Promises. Worse, these promises are based on expectations of rising vehicle sales. The Plan was written cautiously enough that it did not project sales of Ford vehicles over the next several years. The only numbers were total number of vehicles expected to sell in the US. What do we learn from the total sales estimate? Not enough. How many Hondas, Toyotas, Nissans, BMWs, Subarus, etc will sell? Of total vehicles sales, what percentage will Detroit get? In the 1950s, the figure was 95%. Today it's roughly 45%. The trend is bad news, and nothing in the Ford Plan will change the direction of the trend. By the way, has anyone in Detroit thought of hiring some of those Honda and Toyota managers to repair the damage? Has the UAW shown a real willingness to Save the Industry? NO. Hence, there's no chance that a capital injection today will do anything more than delay the inevitable Chapter 11 filing. One more point. Based on statements in the Ford Plan, members of the Ford Family still receive dividends on their special class of stock. That means they too would get free money from Taxpayers if this capital injection plan were adopted. Yikes.

12 / 05 / 2008

mcan2

Is the American government really trying to shake down the UAW?I mean come on whats really going on here?Is our government really that stupid or blind?The big 3 is asking for a LOAN not a BAILOUT! Citybank goes to them for a BAILOUT and then goes back and asks for more.Did they torture that company or AIG?No but here the ALMIGHTY GOVERNMENT sits up on their so called pedestals and asks our MAJOR employers of the USA to cut this and cut that.Would our Government cut their pay or their benefits?Start at the top and work your way down not at the low guy who is already struggling!They really have some NERVE!The GOVERNMENT helped Toyota years ago when they were going under on the brink of bankruptcy!Do you all know that? Why are they letting our AMERICAN automakers SUFFER and BEG???This is bull!KIck them DAM foreign car companies out of the USA and quit letting our American run companies go down the DAM tubes!PEOPLE GET THE WORD BAILOUT OUT OF YOUR MIND. IT'S NOT A BAILOUT THEY ARE ASKING FOR.IT IS A L O A N!Congress needs to be ashamed.They get free benefits,their social security is guaranteed,and they are making hundreds of thousands of dollars a YEAR!Tell THEM to give all that up and see if they like it! How about they give each AMERICAN family $1 million dollars each to pay off their homes and cars and then those families invest in the BIG 3.Now that sounds like a PLAN!Then all of the jobs would be saved and our AMERICAN companies would not have to beg like DOGS!Come on people support our automakers because this is going to affect everyone here in AMERICA not just the workers of the Big 3.If the Big 3 starts cutting the wages of those workers the foreclosure and repos are going to skyrocket!Those people in congress need to live a day in an average AMERICAN families shoes.Could they survive??????????????HELL NO THEY WOULDNT! THe wife of a SKILLED TRADES worker at FORD!

12 / 04 / 2008