Ford Motor Company, Jim Hackett, China discussed on Paul W. Smith
The Ford Motor Company, they you're hearing all different kinds of stories if you get too deep into this like with Bloomberg's and others you'd think that things were falling apart falling apart at Ford. I'm here to tell you they did very very well in North America. They like many other companies have had some struggles in Europe and China because Europe and China are struggling so not so good there. The guy who and remember this is relentless. Positive radio and a relentlessly positive guy is Jim Hackett the CEO of Ford Motor Company. The other end of my line right now. Good morning to you. Jim. Good morning. Paul W we're very positive about the company. You wanna talk to you about that this morning. Yeah. I like to hear about it because there are people like achilles research. That says though, you underperformed in two thousand eighteen you could outperform in twenty nine thousand nine on the back of recovering investor sentiment. Huge surprise potential in two thousand nine hundred and let's face it. Shares for Ford Motor Company still are in in. Their own words remain in the bargain bin. It's true. You know, you, and I talked about sports, for example. You know, this is the company a year ago, and you know, not have the design of its business. The way it is heading into the twenty nineteen we spent twenty eight getting that right? In spite of all that work. We had a decent year. Fact, Gordon America had a really good year. We're going to be paying a nice bonus to our factory workers and has the number seven six zero in it. So that I think that's carbon. I think it is with our frequency. Absolutely good. Good catch. Yes. Yeah. And and and you know, the of the CEO I mean, listen, it's straightforward. You got to balance the interests, like Wall Street along with employees. Customers dealers suppliers and I hear them saying they want us to move faster on the redesigned. But we're we're being very thoughtful about the way we're doing this. So that we don't have anyone of those constituencies. Well, you've learned to thing or two from people who did move too fast. No question. I mean, I live with this other times and I worked with a guy and billboard, which is such an advantage for me because listen to us talk all the time about our job is to serve others, and and service of them Wall Street's one of them. But think about the needs of all these other folks in how we want things to change. And that's the important thing me change almost every aspect of the business for markets the products, and and now this an ear about. You know, I happen to run in last night to rot Albert's, the executive director of the ongoing North American International auto show and Paul Sabatini one of your Lincoln dealers, very very pleased with the product that you have now in the excitement of all the other new products that are coming down the road as well. And we're also we talked a lot with excitement about the June North American International auto show. So we get out of the cold, and the snow and all the rest of it. So there are positive things. There are always going to be questions and all of that. But you grew full-year revenue two percent to the highest level since before the great recession. The cash flow was two point eight billion enabling you to maintain cash and liquidity balances well above your targets. And let's face it. While things might have been a little depressed, especially in other parts of the world that seventy. Six hundred dollar bonus. Check to the UAW Ford workers is big. In fact, how do you do that? If you had a quote unquote down period. How do you still come up with seventy six hundred dollars per employee UAW worker? Earned it. These folks did a great job a year. You know, what we move things around me restarted ranger? I've been in the last few weeks of all the whitewater around other issues that are folks that are back fasting job or very stable. They're all yeah. Westby enter this coming year where we have to work out deals with them. Our plans in North America, really solid. The other thing is that our product development. Our people were so hard and getting products out. Management. You know, I look backwards. Little Costa debated in the product line is but a move from being one of the oldest in average as one of the newest see that's what Wall Street is caught between going to see the object of that caliphate. That's and you'll see good when you consider. Well, first of all the North American International auto show excitement around the GT five hundred the Mustang and the twenty twenty explorer lineup and then as you point out Jim Hackett at Ford Motor Company, the the over the next two years. The Ford showrooms gonna have the freshest full lineup you you mentioned the all new ranger the Bronco escape. All new explorer, all new police interceptor utility all new f one fifty battery electric SUV offroad, small utility. There's a lot coming in the pipeline. Snuck in the battery electric SUV little surprise. I make toes twinkle when I think about it. I've got a great team, but Farley how tight job neither the folks that really rallied around getting this product, right? I mean, they in China right now it's nine, but they're they're looking at in new bottles coming in here alone between and Lincoln. Is that right? Ten new models between Ford and Lincoln in China and China's back on its heels. But this also indicates just how important of Ford is an China is to Ford, and in fact, one of the things I think pulse apetit said last night from that Lincoln has come on strong in China to be the either second or third top luxury vehicle in China already. Yeah. Lincoln itself. Like, you said Paul so crane to bring this up. That's a that's a example of what we can do because we put our nose to the page so to speak about five years ago and said we're going to turn this thing around three successive years where the vehicles been name vehicles the year and in China, it's really hot. And here's thing what we're learning about in doing Lincoln. It's so common sense start with the design problem around, but I really care about work backwards replying that with sports, and you know, optimism is is the kind of thing I grew up with. I think you're one of the best that I get to hear every day. Like, my father getting a piece to get up and sing every morning and wake us all up. So. I feel the same way. Well, God bless you. We have relentless positive radio. No matter the headwinds, Jim Hackett, keep up the good work. And I know you wanna thank all the hardworking men and women of Ford Motor Company. Well, you know, I do that every time tell you there's nothing more important than than in this constituency than the people were Ford Motor Company, they love their company and they brought up there behind this transformation. And I just want to. Thank you for that. Thank you, sir. Nice touching base. It was great seeing you and Kathy. Thanks for stopping by at our charity preview, and we'll talk again soon. That's right. Bring the shorts next next time. We're together. It'll be in the summer. Yep. June of twenty twenty looking forward to it. Thank you, sir. Thank you. Jim Hackett Ford Motor company's CEO on Ford earnings. They lost money around the world but made money in North America. And we're looking forward to positive things still up tremendous opportunity. I think Ford stock is under way underpriced, but you never know with the auto industry, and those stocks in never know. Let's check now WJR now John Bailey. Road. The roads are looking pretty good. So far this morning lighter. Volumes in no weather related issues. Certainly not nothing like the the slushy icy mess. We had yesterday some congestion, including I seventy five southbound headed through the 696 interchange and westbound six thirty six approaching I seventy five northbound to seventy five headed through the ninety six hundred fourteen interchange not too bad of the border crossings this morning. Looks like things have settled on a bit. At the ambassador bridge is still reported thirty minute wait for truck traffic, heading into Windsor on the ambassador bridge and up to a thirty minute. Wait for inbound trucks at the blue water bridge. Windsor tunnel looks pretty good. I'm John Bailey. WJR Trafton is for.