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AUTOS
April 30, 2013 | By David Undercoffler
Ford Motor Co. has been making automobiles for more than a century, but only now are the company's products on the brink of monumental changes, according to Executive Chairman Bill Ford Jr. “The car as we know it, and how it's used in people's lives, is going to change really dramatically and it's going to change fast,” said Ford. The great-grandson of the company's founder, Ford was in Los Angeles on Tuesday speaking at the annual Milken Global Conference about the future of his company and the transportation industry.
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AUTOS
December 18, 2013 | By David Undercoffler
Ford has announced it is joining a growing list of automakers who are taking a serious look at the future of self-driving cars. The automaker has teamed up with the University of Michigan and State Farm Insurance to develop an autonomous Ford Fusion Hybrid test car. The collaboration will use the car to develop technologies that Ford and its suppliers can use on a future generation of vehicles. "The Ford Fusion Hybrid automated vehicle represents a vital step toward our vision for the future of mobility," Bill Ford, Ford's executive chairman, said in a statement.
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BUSINESS
October 31, 2001 | TERRIL YUE JONES, TIMES STAFF WRITER
Bill Ford strode to the podium at Ford Motor Co.'s auditorium Tuesday to thunderous applause, an American flag at either side of the stage, with stars-and-stripes designs on the walls. Employees, packed well beyond the room's 470-seat capacity, gave the fresh-faced 44-year-old a raucous standing ovation. "Gee, it's like the Lions won a game," Ford quipped, referring to the forlorn 0-6 record of the Detroit professional football team his family owns. So began William Clay Ford Jr.'
AUTOS
June 18, 2013 | By David Undercoffler
Just weeks after its chairman said the world of self-driving cars is closer than we think , Ford announced a program that uses an autonomous system for testing the durability of its cargo vans. The program uses robots to drive Ford's upcoming full-sized Transit van around a closed test course. Each van is fitted with a "robotic control module" that handles the steering, braking, and acceleration. Ford said the vehicles are programmed to follow a preset course. The automaker tracks the van's progress with cameras in a nearby control room, and a GPS system keeps the vehicle accurate to within an inch, according to Ford.
BUSINESS
September 6, 2006 | Martin Zimmerman and Peter Pae, Times Staff Writers
Less than five years after taking the helm of the company founded by his great-grandfather, William Clay Ford Jr. said Monday that he was handing the keys to Ford Motor Co. to an executive with no experience selling cars. Alan Mulally, who is credited with turning around Boeing Co.'s struggling commercial airliner business, will take over as chief executive of Ford, effective immediately.
BUSINESS
April 15, 2012 | By John Reed
Some people underestimate Alan Mulally when they first meet him. Ford Motor Co.'s 66-year-old chief executive, who grew up in Kansas and once aspired to be an astronaut, looks and sometimes acts like an overgrown Boy Scout. He laces his speech with words such as "neat," "cool" and "absolutely. " But the farm-boy exterior conceals one of business' toughest, most ruthless managers. When a desperate Bill Ford recruited Mulally from Boeing in 2006, Ford was heading for a $12.7-billion loss and on the verge of losing its No. 2 sales spot in the U.S. to Toyota because of poor management and an uninspiring vehicle lineup.
BUSINESS
September 20, 2008 | From Times Wire Services
Ford Motor Co. Chairman William Clay Ford Jr. sold 1 million shares for an average of $5.05 each, according to a U.S. regulatory filing. Bill Ford, 51, sold the shares to retire debt incurred in exercising stock options, a company spokesman said. The chairman, who was chief executive from October 2001 to September 2006, declined a salary during that period and received stock options instead. Bill Ford now directly holds 4,956,971 common shares, according to the filing. Accounting for the 398,920 shares held indirectly, the sale represents 16% of his common shares.
CALIFORNIA | LOCAL
November 19, 1998
Assistant director Bill Ford makes the Orange County Health Care Agency sound like a bunch of moronic bureaucrats in the Nov. 9 article "Inspections but No Grades for O.C. Eateries." Ford maintains that grades should not be posted in windows because the grade isn't necessarily an accurate reflection of conditions at any given time. It's better to see the results of the inspection, and surely would motivate restaurateurs to keep their places cleaner and healthier. N.H. PETERSON Laguna Beach
AUTOS
June 18, 2013 | By David Undercoffler
Just weeks after its chairman said the world of self-driving cars is closer than we think , Ford announced a program that uses an autonomous system for testing the durability of its cargo vans. The program uses robots to drive Ford's upcoming full-sized Transit van around a closed test course. Each van is fitted with a "robotic control module" that handles the steering, braking, and acceleration. Ford said the vehicles are programmed to follow a preset course. The automaker tracks the van's progress with cameras in a nearby control room, and a GPS system keeps the vehicle accurate to within an inch, according to Ford.
AUTOS
December 18, 2013 | By David Undercoffler
Ford has announced it is joining a growing list of automakers who are taking a serious look at the future of self-driving cars. The automaker has teamed up with the University of Michigan and State Farm Insurance to develop an autonomous Ford Fusion Hybrid test car. The collaboration will use the car to develop technologies that Ford and its suppliers can use on a future generation of vehicles. "The Ford Fusion Hybrid automated vehicle represents a vital step toward our vision for the future of mobility," Bill Ford, Ford's executive chairman, said in a statement.
AUTOS
April 30, 2013 | By David Undercoffler
Ford Motor Co. has been making automobiles for more than a century, but only now are the company's products on the brink of monumental changes, according to Executive Chairman Bill Ford Jr. “The car as we know it, and how it's used in people's lives, is going to change really dramatically and it's going to change fast,” said Ford. The great-grandson of the company's founder, Ford was in Los Angeles on Tuesday speaking at the annual Milken Global Conference about the future of his company and the transportation industry.
AUTOS
March 15, 2013 | By Jerry Hirsch
Ford Motor Co. paid Chief Executive Alan Mulally $21 million last year, down from $29.5 million in the previous year because the company didn't meet all of its financial goals. Most companies don't like to talk about what they pay their top executives, but Ford annually issues a news release detailing the compensation of its management team. Mulally earned $2 million in salary and an additional $4 million in a cash bonus in 2012. His total compensation includes the grant date value of long-term stock options and other performance-based equity awards.
BUSINESS
May 23, 2012 | By Jerry Hirsch, Los Angeles Times
Moody's Investors Service raised the credit rating of Ford Motor Co. to an investment grade, giving its seal of approval to a corporate turnaround of the business that started with heavy borrowing at the end of 2006. The move Tuesday returns control of the automaker's famous "Blue Oval" logo back to Ford. The logo, with the Ford name written in distinctive script, was first seen on a Model A in 1928 and was pledged as collateral to obtain the loans. Moody's raised its assessment of the creditworthiness of Ford's automotive operations to Baa3, up from Ba2. Ford Motor Credit Co., the automaker's finance arm, now has a rating of Baa3, up from Ba1. The investment rating is an important measure of corporate health and will reduce the automaker's borrowing expenses.
BUSINESS
April 15, 2012 | By John Reed
Some people underestimate Alan Mulally when they first meet him. Ford Motor Co.'s 66-year-old chief executive, who grew up in Kansas and once aspired to be an astronaut, looks and sometimes acts like an overgrown Boy Scout. He laces his speech with words such as "neat," "cool" and "absolutely. " But the farm-boy exterior conceals one of business' toughest, most ruthless managers. When a desperate Bill Ford recruited Mulally from Boeing in 2006, Ford was heading for a $12.7-billion loss and on the verge of losing its No. 2 sales spot in the U.S. to Toyota because of poor management and an uninspiring vehicle lineup.
BUSINESS
March 30, 2012 | By Jerry Hirsch
Ford Motor Co. has made what it pays its top executives about as transparent as any company in America. While many public companies hide their executive compensation data in the fine print of regulatory filings, Ford simply put out a news release that outlined what the bosses were making in fairly simple terms. It also filed the information with the Securities and Exchange Commission. CEO Alan Mulally, the former Boeing executive credited with helping Ford avoid the bankruptcy reorganizations and federal bailouts that sustained General Motors and Chrysler during the recession, earned $29.5 million in total compensation last year.
BUSINESS
February 9, 2012 | By Jerry Hirsch
Ford Motor Co. announced on Thursday a series of senior management changes but gave no hint to who might succeed Alan Mulally as the automaker's next chief executive. Lewis Booth, executive vice president and chief financial officer, and Derrick Kuzak, group vice president, Global Product Development, have elected to retire effective April 1. Each has served the automaker for more than 30 years and at times have been mentioned as possible successors to Mulally. Booth, 63, will be succeeded by Bob Shanks, who is currently vice president and controller. Kuzak, 60, will be succeeded by Raj Nair, who is currently vice president of engineering, global product development.
BUSINESS
April 8, 2006 | From Times Wire Services
Ford Motor Co. Chairman and Chief Executive Bill Ford received total compensation of $13.3 million in 2005, down 40% from the previous year after the automaker's North American division lost more than $1 billion, according to a proxy statement filed Friday. Bill Ford said last May that he would take no salary, bonus or other awards until the company's automotive operations return to profitability.
BUSINESS
February 16, 2003 | James Flanigan
Ford Motor Co. was sputtering badly at the end of World War II. But it managed to come roaring back as founder Henry Ford's grandson, Henry II, took over the company and rallied it under the slogan "There's a Ford in Your Future." The question now is whether William Clay "Bill" Ford Jr., great-grandson of the original Henry and nephew of Henry II, can bring the company back once again. Some doubt it.
BUSINESS
March 9, 2011 | By Jerry Hirsch, Los Angeles Times
Ford Motor Co. earned the most money in more than a decade last year, and that has triggered a big payday for the automaker's top executives. Ford Chief Executive Alan Mulally received stock worth $56.5 million before taxes, the company said in Securities and Exchange Commission filings Monday. The dollar figure is based on the closing price of Ford's shares March 3, a company spokesman said. Executive Chairman Bill Ford Jr. was awarded stock worth $42.4 million. Mulally, a former Boeing Co. senior executive, is credited with turning Ford around and keeping it solvent when General Motors Co. and Chrysler Group both filed for bankruptcy and survived only because of massive government bailouts.
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