Will there ever be accountability?

Now that the failed Canopy security has been shut down (acquired by Ford 🤣🤣🤣) and refunds provided to all customers for the hardware they purchased and unused subscriptions, when will the person that was heralded as bringing the best new van and truck security to market be held accountable for the $Billion failure?

We also have a train station CEO now giving ‘free” guided tours…not free to shareholders.

Why is Farley still CEO?

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27 replies (most recent on top)

I think we stopped publishing the revenue and expenses for Ford Next, but last I saw they were losing over $3 Billion annually and had been doing that for five years. Since Canopy was the only thing that group ever brought to market, it’s true cost is around $15 BILLION. Don’t you wish that amount was back in your bonus calculation instead of wasted?

If Ford ever held anyone accountable, all the people responsible for Canopy would be searching for employment at a different company.

@5vdc+1uBFwATq

Sadly, no. Ford Next spent the last five years “developing” Canopy Security, which has been a total failure. Every single person associated with this annual $3 BILLION expense should be terminated, for cause, they’ve all failed to “incubate “ anything of value.

So... is Ford Next working on something big that will make us $$$ of money. We really need some innovation that will pan out.

@4cdl+1uBFwATq - You have an excellent memory!!! One of my friends joined Wingcast at the start. Asked me to join, I looked at the details and said that's too risky and will not survive.

reminds of Wingcast for the ones who have been around for a while

https://www.forbes.com/2002/06/04/0604telematics.html

lot of money down the drain. boondoggle city. they really don't learn, do they.

"The idea behind telematics is that millions of car owners eventually will pay monthly subscription fees for all sorts of telecom-related services."

The Canopy debacle is proof that Ford Next and its $3 Billion annual drag on earnings needs to be shut down. In all the years they’ve been “incubating” business ideas, they have nothing to show for it but $10 Billion + in costs. The fact that it exists shows Stern can’t stand up to Farley and tell the truth about Farley’s business development acumen.

I think FLV was initially responsible for pushing this out because his performance was partially based on stock price, so he did a fake out to make investors think Ford was really becoming a subscription and services business model. That said, CM claimed this was his original idea, he was given responsibility for bringing it to market. He claimed they had been developing and testing canopy for two years, and it would work in all trucks and Transit vans. They needed a partnership with ADT, HQs in Detroit and London (mainly for the FF miles), and $100,000,000 investment for the first three years.

Here we are, 3 years later. The product never worked in vans or trucks, was never integrated to ADT’s platform, and has now given all customers refunds for all the hardware.

CM owns this. He claimed it was his original idea, he advocated for it, supposedly spent two years testing (without noticing it didn't work), and has wasted at least $100 million so far. If this isn’t cause for performance related termination, what project will he work on next?

This is indicative of all Ford Next activities. They’ve been wasting over $3 BILLION per year, with NOTHING to show for it.

Make it better with a press release that. CM is leaving “to spend more time with family.”
Ford shareholders will be better off.

OMG, don’t remind me of autonomics.

Autonomic 2.0.

Is anyone really surprised? When Canopy was first announced, l looked at the credentials of the leadership team and I did not find a single leader that has startup experience. The “CEO” had no business experience. I guess trial and error…. Using someone else’s money!

This will be a great MBA case study.

during my young engineer days, I thought the sign people had on their cubes that ended with "reward the non- participants" was Way too cynical. now i think it is Way too accurate. looking back i'm surprised they even allowed that type of thing up.

So what will happen to Canopy employees in US, UK, and elsewhere? Are they all now Ford employees? I hope they are okay.

@1pyq+1uBFwATq

They should also change their website and stop pretending they are hiring engineers and scientists.

There is only applause at Ford. We should all know that by now.

@ yim+1uBFwATq

There should be something about the financial impact of this in the Q3 financial statement notes. If not, ask about it on the earnings call. Maybe Adam Jonas will.

Will the last one out the door at canopy please turn off the Facebook, Instagram and X accounts?

@1ryb Thats a great question! Come on Phoebe, we know you monitor this site.... How about writing a non-puff piece, or are you afraid Billy will cut off your access?

Agree, ford family are just handout enthusiasts albeit in a larger scale than the average joe, remember the 9 bil “loan” they got last year from fed

The loan whose terms they never disclosed

The reason JF is still here is because he is doing everything BF wants. Albeit JFs beliefs are inline with BF. Accountability will never be taken as long a BF is around because he doesn't want to admit he has failed twice! Keep in mind the Ford family was worth 200B at one time. Now they are only worth 5B in total. Only when they hit zero will things change. At that point someone will buy us out.

Where is Phoebe Ford Howard when a front page article needs to be written about a Ford failure?