Alan Mulally

Categories: News | Cars Trucks | Executives
  • Alan Mulally is the Chief Executive Officer of Ford Motor Company. On December 2, 2008, he, was one of several Detroit automakers who spoke to the press about their planned appeal to Congress for assistance with a bailout.Yahoo News: Ford tells Congress it may be able to go it alone (December 2, 2008)

    Mulally and two Ford executives left Detroit on Monday, December 2, 2008, in a Ford Escape hybrid for the 10-hour drive to Washington, DC. The gesture was a response to the public relations fiasco that he and the other Detroit automakers made in November when they each flew private jets to ask for money for their failing companies.Reuters: Detroit CEOs take road less traveled to Washington (December 2, 2008)

  • Ford's Financial Status

    According to Mulally, although Ford is suffering this year, the situation is not as dire as at GM and Chrysler. Ford's light vehicle sales fell 31% in November 2008, compared to over 47% for Chrysler and 41% for GM.CNN: At a Glance: US Auto Makers Make Loan Pitch As Sales Plunge (December 2, 2008) Yahoo News: Ford tells Congress it may be able to go it alone (December 2, 2008) Ford owes more than $26 billion, including $6.3 billion to the union trust fund by the end of 2009; Chrysler owes $45 billion, with $7.5 billion due to the unions by 2010. As a private company, Chrysler doesn't have to detail its financial situation, but its CEO says it needs federal aid to stay afloat.Yahoo News: Ford tells Congress it may be able to go it alone (December 2, 2008)

    Ford has asked for $9 billion as a "standby line of credit" to stabilize its business; GM wants $4 billion immediately and $18 billion in total loans; and Chrysler a $7 billion bridge loan by the end of the yearYahoo News: Ford tells Congress it may be able to go it alone (December 2, 2008) CNN: At a Glance: US Auto Makers Make Loan Pitch As Sales Plunge (December 2, 2008)

    Mulally promised that if Ford takes any government money, he would personally work for $1 per year; and he would cancel management bonuses and merit raises for salaried employees.Yahoo News: Ford tells Congress it may be able to go it alone (December 2, 2008)

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