There's no guarantee that any U.S. auto compani will be able to stay out of bankruptcy. General Motors and Chrysler went there.Ford has so far stayed away. More to the point, it has been trying very hard. And there is a reason.
The reason is its name, Ford, and that there is a family named Ford with its fortunes tied to that of the automaker.
When your name is on the door, it makes you think a little harder. Not smarter, you're only as smart as God made you.Willain Clay Ford IV (Bill) symbolically reduced his salary to $1 a year in the symbolic manner of the auto great, Lee Iacocca. And he has been beating his brains for "the way forward>:
And as people like Iacocca found out, if you wanted approval for a project, you went, not to a comittee, as at GM, but to the boss who said yes or no. After all, his name was on the door. (But as good as Iacocca was, he couldn't be the boss because it wasn't his name on the door.)
On the other hand, General Motors has long since forgotten the management lessons of its legendary Alfred Sloan. And maybe Chrysler might have avoided bankruptcy if there was a family descended from Walter Chrysler.