FOX News: Ford CEO: We're Doing Great

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Published : Saturday, 16 May 2009, 9:42 PM CDT

By: Richard Ray

DALLAS - Ford CEO Alan Mulally says his company is poised to come out of the recession stronger and more competitive than ever.

While General Motors and Chrysler are scaling back new production, Ford intends to roll out nine new or upgraded vehicles this year.

FOX 4's Richard Ray reports.

CBS Channel 11: Ford CEO Discusses Company's Future

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May 15, 2009 10:00 pm US/Central
Reporting
Jack Fink

GARLAND (CBS 11 News) ―

Unlike GM and Chrysler, Ford CEO Alan Mulally said his company isn't shutting down a massive number of dealerships.

But Mulally said in some large metropolitan areas, they have a few too many dealers.

"We're continuing to consolidate, which is good for dealers and good for Ford," he said. "We're in pretty good shape here in North Texas. We have a great distribution network."

Mulally came to Randall Reed's Prestige Ford-Lincoln-Mercury in Garland Friday to help celebrate their grand re-opening.

Despite the rough economy, owner Randall Reed spent $6 million renovating his Ford dealership and building a Lincoln-Mercury showroom.

Reed said, "I saw the product. I saw the future with Ford. I thought it was a safe investment."

Ford has steered clear from GM and Chrysler's fate. This week, Ford raised $1.7 billion in cash and in 2006, Mulally secured an $18-billion line of credit.

"I knew the U. S. economy slowing down would affect the worldwide economy. So as we went to the banks. We could at the time because our credit was good, and we had a good business plan," said Mulally. "I decided we needed to make sure we had enough money to fund this transformation of Ford."

But Mulally said he's most concerned about parts suppliers. GM and Chrysler's troubles could hurt them and in turn hit Ford. "Nearly 70 percent of our auto suppliers supply the U. S. system," he said.

Mulally said Ford is accelerating development of new, fuel efficient vehicles. They include a sub-compact called the Fiesta and a new version of its Focus.

He said as the government develops a new energy policy, it's important for policy makers to provide customers with more incentives to buy those vehicles.

"That's what they're talking about and there are many ways to do that. But the most important thing is like anything you're going to make a big improvement on is to involve the consumers," he said.

Now that Ford has enough cash, Mulally said Ford must stay focused on what their customers want so the company can stay on the road to profitability.
(© MMIX, CBS Broadcasting Inc. All Rights Reserved.)

Dallas Morning News: Ford on the road to profit in '11, CEO Mulally says

09:06 PM CDT on Friday, May 15, 2009

By TERRY BOX / The Dallas Morning News
tbox@dallasnews.com

At a time when bankrupt Chrysler LLC and struggling General Motors Corp. are closing dealerships and plants, Ford Motor Co. plans to be profitable again in 2011.

"Ford is in a very different place right now," said CEO Alan Mulally, who was in the area on Friday to attend the grand opening of Randall Reed's Prestige Ford and Lincoln Mercury in Garland.

Ford, of course, has felt the pain of the recession just as other automakers have. The company lost a record $14.7 billion last year and another $1.4 billion in the first quarter of this year.

But Mulally, who came to Ford in 2006 from Boeing, where he oversaw the development of the 777 airliner and other projects, made a controversial decision shortly after he arrived to mortgage most of Ford's assets so the company could borrow $23.6 billion.

The funds allowed Ford to operate through the recession without government assistance, and, more important, Mulally said, to continue developing vehicles. Some, such as the new Ford Taurus sedan and Lincoln MKT crossover, begin arriving at dealerships this year.

"We affectionately called that money our home-improvement loan," said Mulally, who didn't much resemble an automaker CEO in his red sweater vest, crisp white long-sleeve shirt and tan slacks.

Ford is already working to retire its considerable debt, he said.

"As we start to generate cash, we will be able to pay off those loans quickly," said Mulally, a youthful 63-year-old Kansas native who's featured in a cover story in this month's Fortune magazine. "We are absolutely not postponing the pain."

Ford has managed to separate itself from GM and Chrysler in perception, industry observers say, and that should serve the company well once the car market regains its health.

"I think Alan has been there long enough that you are seeing the results," said Jeremy Anwyl, chief executive officer of Edmunds.com. "Most of these car companies have good designers. You just have to have someone who will cut them loose."

"The direction they are moving is lifting the entire Ford group up," said Jeff Schuster, executive director of forecasting at J.D. Power and Associates. "They have put good design back into their vehicles."

Mulally, who at one point in the interview leaped up to go hug a 94-year-old woman who had just bought a Focus, said he decided to attend the Prestige grand opening because the dealership chose to invest millions in its facilities in a terrible economy to prepare for better times. That is essentially what Ford is doing, said Mulally, who drives a different car home every night, including a Honda Fit recently.

"If all you do is worry about slashing and cutting, this job is not much fun," he said.

GRAND OPENING EVENT: From Diesel Mechanic to Ford Mega Dealer – A Story of Hope, Faith, and Determination!

PRESS RELEASE

FOR IMMEDIATE RELEASE

(For high-res images, please contact Brenda Dash at bdash@prestigegarland.com)

Garland, Texas, May 4, 2009 – While much of the auto industry suffers with the fear and reality of Bankruptcy that consumes our daily news media, the Randall Reed dealership group, World Class Automotive, takes a daring leap of faith and opens its newest crown jewel by adding Lincoln Mercury to Prestige Ford in Garland. Randall Reed announced today the Grand Opening of his recently completed dealership located at 3601 South Shiloh Road, Garland, Texas. The significance of this opening on May 15, 2009 is underscored by the attendance of Alan Mulally, President and Chief Executive Officer of Ford Motor Company, along with other top Ford officials from Detroit. “Sherry and I are truly honored and look forward to Mr. Mulally’s visit,” states Randall Reed. “This marks our third completion of a new or completely renovated Ford Lincoln Mercury facility in Texas within the past two years. Our dedication and commitment to Ford and the Blue Oval for the past twenty-eight (28) years has been an honor and blessing! While the past year in our industry has been one of tumultuous peril, the health and market share of Ford Motor Company continues to improve due to the incredible leadership of Alan Mulally and his hard working team. We hope the City of Garland, and all of north Texas will take pride in the message of Mr. Mulally’ s visit to our humble little automobile dealership.” states Reed.
“We’re proud to represent eight Ford and Lincoln Mercury dealership franchises here in Texas. Knowing our future is bright, and our conscious is clear when it comes to Government bailout or Bankruptcy blues, we now are planning our next Ford acquisition. Look for the announcement soon,” states Reed.
The Reeds own and operate some of the most successful Ford Lincoln Mercury dealerships in the nation. Recognized as a “Top 100” Mega Dealer by Wards Dealer Business, Reed continues to be honored as one of Ford’s largest volume, highest customer satisfaction award winning dealers in the USA.
Randall Reed’s Prestige Ford/Lincoln-Mercury located north on Garland Road and I-635 provides a showcase for all the newest Ford brands, and a totally separate new showroom for Lincoln Mercury. These new showrooms feature all the brand design icons required by Ford Motor Company for the joint housing of these Ford brands in one dealership. In total, the seven hundred and ninety-five thousand and three hundred (795,300) square foot dealership campus features eleven hundred (1,100) regular and twelve (12) handicap parking spaces, a fifteen thousand nine hundred (15,900) square foot Ford showroom, a forty-four hundred (4,400) square foot Lincoln Mercury showroom, forty-two hundred (4,200) square feet of general offices and training area, an eleven thousand two hundred (11,200) square foot parts department, a forty one thousand three hundred (41,300) square foot service department and twenty-one thousand seven hundred (21,700) square feet of collision space. The former Ford showroom, located across the street at 3401 Garland Road, has been converted into a pre-owned supercenter facility and renamed Randall Reed’s Prestige Pre-Owned Superstore. In tandem, these two facilities now make Randall Reed’s Prestige Ford Lincoln Mercury the largest new and used dealership in Garland and one of the largest in the greater Dallas-Fort Worth area. Prestige Ford Lincoln Mercury is one of ten (10) highly successful retail automobile franchises owned by World Class Automotive Group whose dealerships are located in Houston, Dallas and Huntsville. The group successfully sells the vehicle brands of Ford, Lincoln, Mercury, Dodge and Hyundai. World Class Automotive is nationally ranked 61st in Automotive News recent rank of all US dealership groups.
The new facility has tailored its business to accommodate the various consumer groups using the second generation of the successful Autotainment™ concept. Guests are greeted when entering the Ford showroom, by a receptionist seated at a sweeping receptionist desk centered between vehicle displays of new Ford products. The more refined Lincoln Mercury showroom is connected to the Ford showroom by the Java Café and accessory showroom, where customers enjoy their choice of Starbucks coffee, while shopping for just the right accessory to personalize their new Ford. The design of the Lincoln Mercury showroom provides its guests with designated parking, separate entrance/reception area, vehicle display area, sales offices and a service write up area. The entire showroom incorporates design elements that fit the specific tastes of Lincoln and Mercury buyers.
There are numerous areas of interest for guests at the dealership that become part of their automotive buying experience at Prestige Ford Lincoln Mercury. A separate internet department has their own showroom space and dedicated lounge for their fast-paced customers. A new performance showroom and service shop, Reed Speed, serves an entire new fast growing segment of the automotive market. Also, for customers in need of speedy service, a new Quick Lane service department has been added. Each and every area is connected by way finding signage, coordinated to link every one of the guest areas and designed to enhance every guest’s automotive buying experience. From the Java Café to accessory showroom, to Reed Speed Performance Shop, to the Quick Lane service, to the Internet showroom, to the Fleet showroom, to the Prestige Accessory Lounge, each area is designed so the guests have a seamless automotive experience.
The ownership of Prestige Ford Lincoln Mercury is lead by Randall and Sherry Reed, who are as interesting as the dealership. Marketed as the Texas Giant, the Reed dynasty of dealerships takes pride in being able to buy big and pass savings onto the customers. The multiple locations within two major markets allow the group dealerships to offer customers a very large base of inventory from which to choose.
“We simply choose not to participate in the recession. Instead, we have chosen to invest in the future of our dealerships, the future of the brands we sell and the future of our customers,” comments Mr. Reed. “In fact, we have done remarkably well in such tough times. From the sales staff to management, the teams have pulled together and are working hard to best serve every customer that comes to us.”
Randall and Sherry Reed have established a tradition of providing twenty eight (28) years of new vehicle sales and services that the community can trust. They sell more, service more and will save you more, which is why they always say "We're Dealin!"
Next time you see your mechanic – look again. Some day, he or she just might own the very same dealership they fix cars at today! That’s the story of Randall Reed. Randall started working in the automobile industry as a diesel tech. Over 30-years of automotive experience, Randall Reed, with his wife Sherry, own one of the largest, privately-held dealer groups in the country. Today the Randall Reed family of dealerships includes:

• Randall Reed’s Planet Ford 45 in Spring, TX
• Randall Reed’s Planet Ford 59 in Humble, TX
• Randall Reed’s Planet Dodge in Humble, TX
• Randall Reed’s Used Car Factory / Online Auto Liquidators, Houston, TX
• Randall Reed’s Prestige Ford Lincoln Mercury in Garland, TX
• Randall Reed’s Prestige Pre Owned in Garland, TX
• Randall Reed’s Park Cities Ford Lincoln Mercury in Dallas, TX
• Randall Reed’s Planet Pre Owned in Dallas, TX
• Randall Reed’s Hillcrest Ford Lincoln Mercury in Huntsville, TX
• Randall Reed’s Hillcrest Hyundai in Huntsville, TX

It’s all about people…the right people, in the right positions doing the right things. The Randall Reed organization instills solid philosophies, beliefs and moral fiber throughout all facets of the operations.

“God has really blessed me with a fantastic family. My wife and I have been married and in business for over twenty-one (21) years. We have three teenaged children - each one an absolute treasure,” Reed says. “We’re blessed with health and a hard-work ethic. All along, there have been people in my life who have taken time to shape who I am today. Now, there are thousands of customers to whom Sherry and I owe everything in business – I am a very thankful person.”

In addition to providing the best in automotive selection and service for its customers, the family of Randall Reed dealerships has a long history of sponsoring numerous local events and programs, benefiting disadvantaged families and children, as well as our communities at-large in north Texas. You can contact Mr. Reed at rreed@prestigegarland.com


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Randall Reed’s Prestige Ford Lincoln Mercury Participates in the Ford Advantage Test-Drive Program Benefiting Susan G. Komen for the Cure®

Even in these difficult times, we believe it is important for our business to give back to the communities it serves. So thru June 1, 2009, Prestige Ford Lincoln Mercury and Ford are providing the opportunity to help raise up to $1 million for Susan G. Komen for the Cure,® part of Prestige’s and Ford’s ongoing commitment to fight against breast cancer. As a 15-year National Sponsor of the Komen Race for the Cure,® Ford has dedicated more than $100 million in donations and in-kind gifts.

The Ford Advantage Test-Drive is a national program, available to all consumers in one of two ways.

1.) At Race for the Cure events, participants will receive a certificate redeemable for test-drives at Prestige Ford Lincoln Mercury.
2.) Certificates are also available for download at www.FordCares.com.

Consumers should bring the certificates to Prestige, take a test-drive and receive a special code (Dealer Sales Code e.g., 88A23). Once consumers have their special code, they then log into www.FordCares.com, type in the code, and Ford will donate $20 to Susan G. Komen for the Cure on their behalf – to the Komen affiliate in the city of their choice. Prestige Ford Lincoln Mercury will match donations – up to a total of $1,000.

Please join us at Prestige for the Ford Advantage Test Drive for the Cure event.