Alan Mulally, erstwhile of Boeing, is doing a swell job for Ford. The company posted a profit of almost a billion dollars this part quarter, including:
The company’s earnings of $357 million in North America broke a streak of 17 consecutive quarterly losses there.
Mulally had earlier established a $10 billion credit line for the company, which allowed Ford to avoid bankruptcy and government intervention. In addition Mulally also successfully negotiated with the UAW earlier this year, with pay cuts for senior management.
Boeing, on the other hand, has posted $1.6 billion in losses. It seems that passing over Mulally for the CEO position in 2005 was quite possibly the worst decision that the company has made over the past few years, in addition to its more obvious issues with airplane production.
