ERJ staff report (AN)
Detroit, Michigan (Bloomberg) — Six months after arriving at Ford Motor Co. from Boeing Co. in 2006, Alan Mulally had to decide the fate of the Explorer, once America’s top-selling sport utility vehicle.
Ford had just posted a $12.6 billion annual loss, and investors were clamoring for the new CEO to replace such guzzlers as the Explorer with the gas-sipping models that buyers wanted.
Mulally had to think fast after Ford staked the company name as collateral on $23 billion in bank loans. At…