DOW JONES NEWSWIRES
Ford Motor Corp. (F) Chief Executive Alan Mulally said the auto
manufacturer had no intention of tapping into equity markets as
part of its long-term transformation plan.
Mulally said Ford, the only Big Three company that hasn't filed
for bankruptcy protection, said it would remain focused on
improving its balance sheet and reducing debt.
The company's long-term plans include restructuring to operate
profitably in the new and changing market and accelerate the
development of new products based on consumer demand.
Ford has shunned the kind of U.S. government bailout given to
bankrupt rivals General Motors Corp. (GMGMQ) and Chrysler LLC. The
company has repeatedly said it doesn't have any plans to seek a
U.S. government bailout or participate in the government's
auto-parts supplier aid program even as car and trucks sales have
plummeted.
However, Ford has sought aid for its credit arm and to comply
with environmental regulations in the U.S. and abroad.
Ford's shares were down 2.6% to $6.03 in recent trading. The
stock has surged after tumbling to nearly $1 in November.
-By John Kell, Dow Jones Newswires; 201-938-5285;
john.kell@dowjones.com