One year after the spectacular meltdown of the domestic auto industry and three years after becoming Ford Motor CEO, Alan Mulally's turnaround efforts are gaining traction.
Ford reported a surprise $1 billion profit last week, and Mulally credited the improvement to better products, prices, and market share. Mulally, 64, was interviewed by Associate Publisher Peter Brown, Editor Jason Stein, and Staff Reporter Amy Wilson just before the earnings announcement.
A year ago you were part of a three-man team from Detroit in front of Congress asking for help, and now you're kind of on your own. How would you assess how Detroit and Ford have weathered the past year?
In Ford's case, we have made tremendous progress. We were really there to support GM and Chrysler getting temporary help with their situation approaching bankruptcy and [because of] suppliers. They could have taken the entire industry down and taken a recession into a depression. … Read more