Simply put, the Billions made off the Explorer years ago could have been put to better use
Detroit News - Feb. 23, 2008
Line of Ford SUV’s on the lot searching for buyers.
A former insider speaking from the outside says, “Ford doesn’t stand a chance.” -- Ed.
At the end of a very long article in this week's New Yorker, John Elkington, a former Ford Motor Co. consultant, offered a not-too-rosy outlook for Detroit's Big Three automakers, especially Ford.
"We are in an era of creative destruction," said Elkington, who was hired by Bill Ford Jr. in 1998 and now heads SustainAbility, a London-based environmental consulting firm. "What happens when you go into one of these periods is that before you get to the point of reconstruction things have to fall apart. Detroit will fall apart. I think Ford will fall apart. They have just made too many bets on the wrong things."
Business Insider caught up with Elkington by e-mail Friday. He acknowledged his comments were "harsh" but went on to add:
"But then history tends to be, too. We are dealing with incumbent psychology. The U.S. has a capacity to reinvent key parts of its economy under stress, but the climate shock is likely to land a series of blows below Detroit's belt." … [Read More]