Another earnings miss. Warranty costs off the chart. Continuing to double down on EVs even though they are losers.
Farley has bumbled and stumbled his entire time. There has been almost no good news for the company since he took over. He has to go before his incompetence sinks the company.
@scl+1tGFRMrJ canopy can’t help prevent vehicle breaking around the
Book building and train station, and they have a full time 24x7 security staff there that includes a manager level position. Way to waste $100 million that could have been bonus money!
If the rank and file white collar folks can get written up or worse for a minor policy violation like submitting a per diem expense incorrectly, how is it that our exec suite can throw away billions on EVs (Mach E is the answer to the question that nobody asked), and still get record bonuses?
I have a question, where's Mark Fields and Joe Hinrichs (CSX). Should have never gotten rid of either of them. Nothing but Ham & Eggers now.
I love JF, BF and the BoD. They are clearly making all of the right moves. Ford is heading in the right direction and all of these customers complaining about so called “warranty issues” should just shut up and be happy with what Ford has given them. Keep doing what you are doing Ford!
Warranty issues are the result of not relying on Design, Engineering and Manufacturing expertise within the ranks. The company knowingly reduced the workforce in favor of sending this critical work "offshore". We all knew this would be a major issue, but the company wanted to reduce cost. Once the adults accept what the root cause is, it will take years to correct, if that's even possible.
I do not understand why JF is still employed. Is his golden parachute broken? Does he have dirt on the family? Or what?
Not surprised about increased warranty spend. It has been hidden in plain sight in the SEC filings. FYI, Interest paid on Ford debt is increasing.
Not a Ford Lifer just been here a few years. Focusing on flashy technology instead of reliability has a cost. Moreover, why should we celebrate delaying launches and avoid acknowledging the engineering process is rushed. Slowing down to do the work right should be a priority. GM took 7 years on the E-Ray. Benchmarking should not cherry pick data, but shed light on best practices.
there's more to this story otherwise. farley and lawler would have been shown the door with huge seperation $$$$$ - imo, the highly unethical and greedy ford family are upto some shady dealings - when the stock dropped during the financial crisis the ford family made BILLION$$$$
Farley has been here since 2009 as VP Marketing, we’ve been losing market share ever since. Recalls have not improved since hiring Halliburton from JD Powers. Losing $100K? The CEO of “Canopy” has lost $100 million, and they are still here, too.
Farley and Hackett got their wish…. Disrupt, Disrupt! Now the results of this are in. So surprise to those of us worked years to turn quality around.
Up to 18.36% now!
Lol, that's a lot of market cap in one day.
Yep, it seems these days companies hire ignorant CEO's who make millions on their way in and on their way out!! Who do you blame the company that hires or the person hired?
@nzk+1tGFRMrJ, you are wrong about the 100k. I’ve seen FnF employees waste much more than that with no repercussions.
Farley essentially lost 5.3 billion dollars on his all in gamble for EV and now it's expected that each organization is tasked with finding that money back with TVMs. Why is it our responsibility to make up the lost money? You sir should resign as that would be the right thing to do but your effing EGO will not let you. So, you should be fired and removed from your position. If any one of us would have lost 100k we would be fired immediately.
It's really the Ford family. The BOD just rubber-stamps whatever they want.
Farley, the 26 million dollar man.
Yeah, but the problem is not ONLY JF. The BOD should fire themselves and the Ford family too.