When the history books are written on thecrisis that nearly wiped out the U.S. Auto Industry, I look most forward toreading the chapter on Ford.
I remember looking at the stock of the iconic car giant sometime during 2008 and it was around $5 a share. That's it. Five dollars to own a share in the legendary house that Henry Ford built so long ago. I recall I mentioned to my co-anchor David Asman, "There's no way Ford's going away. How couldinvestors NOT buy it at $5 a share?"
Fast-forward to yesterday when Ford reported second-quarter net income of $2.6 billion dollars that exceeded analysts estimates. While the company did sound a note of caution for the 2nd half of the year, the news was solidly strong and the stock closed Friday's sessionup 5% to$12.72.
How is it that Ford didn't go the way of General Motors and Chrysler,two companies that hadto declare bankruptcy and throwingtheir fortunes to the U.S. government by taking bailout money?
You need only look as far as the man whom I interviewed in the clips below. Ford President and CEO Alan Mulally arrived at the auto company in 2006 after being turned down TWICE for the top job at aerospace giant Boeing. Folks, I interview a lot of CEOs. Most are super-smart, but only a few are true leaders who can actually convince their workforces they, too, have a stake in the company and need to fight harder than ever to make it fly. Watch the clips and you'll see a leader in action.