One day after Tesla CEO Elon Musk raised the idea that he may take the electric car-maker private, Ford EVP Jim Farley says his company has no issues with being public.
Continue Reading Below
“Having complex stakeholders is great,” Farley said in response to a question about being public vs. private from FoxNews.com Automotive Editor Gary Gastelu at Ford’s headquarters in Dearborn, Michigan. “That sense of the market, investors—so critical for a company like Ford.”
Musk, who has had a contentious relationship with Wall Street analysts, and short-sellers who bet against his stock, tweeted on Tuesday that he could take the company private at $420 per share—but Farley said a company doesn’t necessarily run better if it’s out of the public eye.
“We’ve been in existence for over 100 years—we’ve always had complicated stakeholders -- and that’s what makes our company great and vibrant,” he said.
Ford shares have fallen 19% this year, while General Motors is down 6%. Tesla has gained 22%, nearly half of that bump, came after Musk’s tweet on Tuesday.
|F||FORD MOTOR COMPANY||9.51||+0.06||+0.63%|
|GM||GENERAL MOTORS COMPANY||36.29||+0.35||+0.97%|