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U.S. markets recover from steep losses
DEARBORN, Mich., July 30 (UPI) -- Ford Motor Co. Chief Executive Officer Alan Mulally says he has no intention of retiring before the U.S. carmaker retuns to full-year profitability.
"As long as I'm contributing, I'm honored to serve Ford," Mulally told The Detroit News Thursday.
Deflecting some of the spotlight that has given him star status on Wall Street, Mulally said he was "one person on a fabulous team."
Ford, the only large U.S. automaker to avoid filing for bankruptcy this summer, posted a profit of $2.3 billion in the second quarter, although much of that was due to isolated, onetime transactions, the News said.
Mulally will turn 64 in August, but his stature at Ford -- and his tenure -- appear secure at the moment.
"I'm not worried about supplies or sales. The biggest threat to Ford's future is that Mulally steps off the curb tomorrow and gets hit by a bus," a fund manager heavily invested in company said.
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First-time buyers are driving the expectations that a recovery has begun. Their numbers and market share are growing despite financing roadblocks and competition with investors for entry-level homes. ...
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It is a whole new ball of wax in Europe these days.
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