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CEO opened a project to boost shareholder value, spent millions of dollar and provided negative growth 😄. What a circus!
There should be an independent audit of vendor relationships and see how much of the quality and value is being lost because of kickbacks system .
I can’t wait to hear Farley’s voice reading from the script. From the DN:
Ford aluminum supplier not back at full output after September fire
Detroit — Production of aluminum at Ford Motor Co. supplier Novelis still has not fully resumed more than four months after a devastating fire disrupted supply of the metal to Ford's lucrative pickup trucks, according to two people familiar with the matter.
Following a massive blaze in September at the New York facility, Ford cut its 2025 profit guidance and said it would lose the output of up to 100,000 F-Series pickup trucks through the end of 2025. The company estimated the cost would be up to $2 billion, and it planned to mitigate about half of that. Novelis said it expected to resume full production by the end of December.
An additional fire in late November upset that timeline. Ford at the time said the November fire did not change its projections for its 2025 core profit. It is now unclear how the prolonged shutdown at the facility's hot mill might affect Ford's results for the fourth quarter or the first quarter.
A Ford spokesperson said the company would provide an update when it reports fourth-quarter earnings on Feb. 10. A Novelis spokesperson pointed to the company's November statement, in which it said it "will continue to leverage alternate sources, including its global network of plants and industry peers, to mitigate impact."
The automaker is buying aluminum from other Novelis facilities, Ford executives have said.
Ford's F-Series line, which includes the F-150 and larger Super Duty truck, is by far the company's top seller and generates the bulk of its global profit, analysts estimate. While Novelis also supplies other automakers, Ford is a major customer because its trucks use a largely aluminum body.
The automaker said last year it would increase production of its F-150 and Super Duty trucks by more than 50,000 vehicles at plants in Dearborn and Louisville, Kentucky, in 2026 to recoup some of the lost production from the Novelis fire. It has axed production of the F-150 Lightning electric truck, which also used aluminum from the supplier, as part of a $19.5 billion write-down on its EV programs.
Novelis said the projected costs of rebuilding damaged plant areas and equipment would total $255 million, in an application for financial assistance from Oswego County, New York.
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Congratulations to the board for a fine pick! You can count on them to make the right decision at the right time.
Executive leadership could have made a significant difference with Cisco - when you look at Google, Microsoft, NVIDA, etc they have very smart technical CEOs and have been able communicate and lead their companies into new key technology trends - unlike Cisco which always seemed to be caught flat footed over the last 15 years. Having a CEO that has weak technical aptitude has been one of our Achilles heel for way too long… so many missteps… so many lost opportunities…. it’s just embarrassing and has cost us dearly over the years…..