Ford leads the way as automakers embrace weight-loss

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…

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