| Ford has been focusing on selling the Volvo name | | | | successful sale during this quarter. They may be |
| plate as it has been a money loosing venture for | | | | narrowing the list of bidders down to one in just a |
| them for a while now. They are currently negotiating | | | | couple of weeks. Geely is currently China's biggest |
| with U.S. based bidders and are working towards | | | | private automaker and they are currently the most |
| narrowing the talks down to one potential buyer. The | | | | likely successful bidder in a bidding war that started |
| Crown Group, which is headed by Michael Dingman, a | | | | more than a year ago. Everyone in Ford, Crown and |
| former Ford director (from 1981 to 2002), his son | | | | Geely are being hush hush about the progress of |
| James Dingman and Shamel Rushwin, who is a | | | | negotiations and which way they might go. Ford will |
| former manufacturing and labor executive for the | | | | continue to be the supplier of engines and other |
| automaker, is currently a front runner to the | | | | components for Volvo is working the protection of |
| purchase of Volvo. Ford has succeeded in being the | | | | its intellectual property into the negotiations. |
| only major U. S. auto manufacturer that has avoided | | | | Ford needs to be very careful about intellectual |
| bankruptcy. They are working on making themselves | | | | property but that is pretty difficult. It is possible to |
| leaner by shedding the international luxury lines in | | | | be so closed mouth about intellectual property that |
| order to focus on its own name badge products, | | | | you end up damaging the product and damaging the |
| believing it will again become profitable by 2011. | | | | relationships with the auto makers who take over |
| Crown, who entered into negotiations with Ford | | | | the Volvo nameplate. Still in negotiation are the |
| about two months ago, has offered less than the | | | | responsibilities of liabilities such as pensions. Ford is |
| two billion Geely Holding Group Co, offered. Volvo has | | | | looking to sell Volvo for approximately 2 billion dollars. |
| not lost favor as a brand, it still has its loyalists and | | | | This less than a third of what the automaker paid for |
| still has a good name, sales have just stalled. This | | | | the nameplate ten years ago. Ford had a 'pre-tax' |
| company can and will succeed if it is purchased by a | | | | loss of 231 million in the second quarter compared |
| company that allows the people that know Volvo the | | | | with 120 million lost in the full year prior. Investors |
| best to do what they do best. Crown is working | | | | seem to be happy about Ford's decision, as the Ford |
| towards that goal by trying to attract former Volvo | | | | stocks rose .21 cents to $7.05 in composite trading |
| executives as equity partners. Those being sought | | | | on the New York Stock Exchange. I'm sure we'll see |
| after include Roger Holtback, who was chief | | | | some upcoming changes in Volvo after the new |
| executive officer of the Swedish auto manufacturer | | | | ownership takes over and starts investing moneys |
| in the lat 1980s. | | | | and ideas in this old standard. |
| Ford is hoping to finish negotiations and conclude a | | | | |