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Ford likely to sell Volvo, Mercury: Kerkorian aide

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Eugene Donating Member (1000+ posts) Send PM | Profile | Ignore Thu May-01-08 10:26 PM
Original message
Ford likely to sell Volvo, Mercury: Kerkorian aide
Source: Reuters

Ford likely to sell Volvo, Mercury: Kerkorian aide
Thu May 1, 2008 6:13pm EDT

DETROIT (Reuters) - Jerry York, an adviser to billionaire
investor and Ford Motor Co (F.N) stakeholder Kirk Kerkorian,
expects the No. 2 U.S. automaker to sell its Volvo and
Mercury brands, according to an interview published online
by the Automotive News on Thursday.

York told the trade publication he expected that Ford Chief
Executive Alan Mulally would hold on to the luxury Lincoln
brand, but sell Volvo and Mercury.

"I think ... he'll put Volvo on the market within the next
year and a half," York was quoted as saying. "There's no
rational reason for keeping Volvo and Mercury."

York said Mulally did not tell him any of Ford's plans
when he met the chief executive in April, shortly after
Kerkorian began building a stake in Ford.

-snip-

Read more: http://www.reuters.com/article/innovationNews/idUSN0147221120080501
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TreasonousBastard Donating Member (1000+ posts) Send PM | Profile | Ignore Thu May-01-08 10:31 PM
Response to Original message
1. Someone explain to me why that isn't...
the dumbest thing I've heard this week.

Selling Volvo may be a good idea if they just have to raise cash, although Volvo is worth a lot more to Ford than Jaguar ever was, but how can they sell Mercury? Forgetting about sales and marketing channels and stuff, Mercury IS Ford in a higher trim line.





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whistler162 Donating Member (1000+ posts) Send PM | Profile | Ignore Thu May-01-08 10:44 PM
Response to Reply #1
2. And then there is the issue of selling....
Edited on Thu May-01-08 10:45 PM by whistler162
Krekorian's aide.;-)

I agree.... sounds like Ford has a buyer for Volvo and needs a cash infusion, quick.

As for Mercury that sale makes little sense since it is so tightly tied to Ford and Lincoln. Unless they are spinning it off as a private company to market eco friendlier vehicles or something.
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