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Yahoo! My Yahoo! Mail Yahoo! Search Search: Sign InNew User? Sign Up News Home - Help Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Search Search: Ford is in 'really good shape': CEO AFP - Thursday, June 18 DETROIT, Michigan (AFP) - - Ford Motor Company is in "really good shape" despite the turmoil facing the auto industry, chief executive officer Alan Mulally said Wednesday. ADVERTISEMENT "We have sized ourselves so we are competitive and we can be profitable," Mulally told reporters on the sidelines of an economic summit in Detroit, Michigan. Mulally said that while Ford's improved products have been driving its sales, it may have also benefitted somewhat from the fact that rivals General Motors and Chrysler were forced to seek bankruptcy protection. "People also want to know they're with a company that is viable and is here for the long term," he told reporters. Unlike GM and Chrysler, Ford has managed to restructure its business and slash structural costs without having to borrow billions from the government. Ford obtained a massive credit line shortly before the credit markets froze last fall and entered the current downturn with substantial liquidity. "We're in really good shape with the balance sheet where we are now as soon as we get back to profitability and positive cash flow in 2011 then well accelerate improvements to the balance sheet," Mulally said. Mulally said he has "a lot of compassion for what our competitors are going through" and said the government's decision to provide support to GM and Chrysler was the right thing to do in order to avoid an economic calamity. Email Story IM Story Printable View Blog This Sign in to recommend this article » 0 users recommend Enlarge Photo Alan Mullaly, President and CEO of Ford Motor Company, sits on the panel of a Manufacturing Town Hall on the topic of "Innovation and Competitiveness in Manufacturing" at the National Summit in Detroit, Michigan. Ford Motor Company is in "really good shape" despite the turmoil facing the auto industry, Mulally said Wednesday. Most Popular – Top Stories Viewed Men's 'stiff upper lip' may explain cancer death rate Climate change is happening 'here, now': US report Airbus a big winner at Paris Air Show Obama signs note for girl who played hooky to see him Court orders Exxon to pay $507.5 mln for 1989 spill View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Copyright © 2009 Yahoo! Southeast Asia Pte Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Privacy Policy - Terms of Service - Community - Intellectual Property Rights Policy - Help

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