Ford Feels Wall Street's Pain Over Slow Turnaround
- CEO says company was ‘constipated’ in product development
- Ratings companies aren’t concerned about balance sheet: CFO
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Ford Motor Co. needed to stop the bleeding before it could start showing gains from herculean efforts to turn the company around.
That’s the key takeaway from Chief Executive Officer Jim Hackett’s second try in as many weeks to explain to analysts why Ford has been struggling more than some of its peers to weather a host of headwinds hitting the auto industry. He said he understands their disappointment after the company posted only its second quarterly loss since 2009.