(Former Ford CEO Donald Petersen passed away this April 24th. We’re running this profile covering his crucial period at Ford’s helm. Originally posted 12/29/11)
Oil prices have just hit record highs, and the nastiest recession since WWII has the country in its grip. Ford’s line-up of bloated, heavy vehicles is piling up like cord-wood on the dealer’s lots. The only car selling is its “Americanized” global compact. Ford stock is priced in cents, and bankruptcy rumors are swirling. The top exec hired a year earlier is intelligent, unassuming and straight-talking. He commits Ford to building “higher quality products with stronger customer appeal…emphasizing smaller, more efficient cars”. Ford in 2008? No, it’s 1981. Read the rest of this entry »