Ball point pen on the morning newsprint
Fords stock price was already in trouble when Allan Mulally became CEO on Sept, 5th 2006. At $8.39 a share, the company was worth less than a third of what it was six years earlier. Last month car sales in America (led by Honda and Toyota) topped Fords F Series Trucks for the first time since 1992 with sales down by 31% for the month of May. Mulally said last week that the consumer shift to smaller vehicles is going to be permanent. With China's growing economy stretching the world's oil supply, the middle east instability, and US prohibited from tapping our own oil reserves. Couldn't they see this coming? Yesterday's F close, $4.90 a share.