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The Ford Foundation announces $180 million in new racial justice grants, supported by proceeds from social bonds

October 10, 2020

The Ford Foundation announced $180 million in new grant funding for U.S. racial justice and civil rights groups, the organizations large and small who are doing essential work to address systemic racism and support full democratic inclusion. This latest funding doubles the Foundation’s existing commitments in the civil justice arena to $330 million.

Darren Walker wearing a hat

© Michael Loccisano—Getty Images

This latest allocation has been made possible by a deft use of capital markets—unprecedented in philanthropic history. In June, the Foundation announced its plan to borrow $1 billion in social bonds to increase its grant-giving capacity at a time when mission-critical organizations large and small are losing revenue due to the coronavirus.

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“What was creative was figuring out a way to increase our giving while not diminishing the current value of our endowment,” Ford Foundation president Darren Walker tells Fortune.

He recalls the time in March and April when the Foundation

The Zacks Analyst Blog Highlights: General Motors, Ford, Fiat, Tesla and Honda

October 7, 2020

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For Immediate Release

Chicago, IL – October 7, 2020 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include General Motors GM, Ford F, Fiat Chrysler FCAU, Tesla TSLA and Honda HMC.

Here are highlights from Tuesday’s Analyst Blog:

Big 3 Detroit Automakers in Focus: How Have They Fared?

After plunging the most in the second quarter since the Great Recession, the U.S. auto industry gathered momentum in the third quarter, with sales rebounding from coronavirus-led lows and buyers returning to showrooms. Sales growth for September marked the first monthly rise since February. Unless there is a spike in coronavirus cases, which will trigger another round of lockdown and send vehicle deliveries into a tailspin, auto sales in the United States are

GM, Ford need electric-car batteries, but take different paths to get them

October 3, 2020

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Fox Business Flash top headlines are here. Check out what’s clicking on FoxBusiness.com.

Auto makers, pumping billions of dollars into developing electric cars, are now facing a critical choice: get more involved with manufacturing the core batteries or buy them from others.

Batteries are one of an electric vehicle’s most expensive components, accounting for between a quarter and a third of the car’s value. Driving down their cost is key to profitability, executives say.

But whereas the internal combustion engine traditionally has been engineered and built by auto makers themselves, battery production for electric cars is dominated by Asian electronics and chemical firms, such as LG Chem Ltd. and Panasonic Corp., and newcomers like China’s Contemporary Amperex Technology Co.

With regulators world-wide pushing car companies to sell more electric cars, auto executives worry there won’t be enough factories building high-quality batteries.

Ticker	Security	Last	Change	Change %
F	FORD MOTOR

Ford US auto sales continue recovery on pickup demand

October 3, 2020

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Ford’s Q3 sales got a boost from pickup trucks and SUVs.
Sales for its F-Series pickup rose 3.5% in the quarter when compared with a year ago, marking its best pickup sales since 2005, the company said.
Visit Business Insider’s homepage for more stories.

Ford on Friday continued to show signs of a recovery from the COVID-19 pandemic as demand for sports utility vehicles and pickup trucks helped boost third-quarter sales in the United States.

The US auto sector has climbed back quicker than other industries, but automakers had a hand in that with aggressive incentives like zero-for-84 months financing, payment deferrals and job assurance programs.

Ford posted a 5% fall in U.S. auto sales for the third quarter but said a continuing recovery from pandemic-induced lockdowns helped it record better sales compared with the second quarter.

The No. 2 US automaker, which announces its quarterly sales volumes a day

Ford CEO Jim Farley replaces CFO Tim Stone with John Lawler in shake-up

October 2, 2020

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Jim Farley, of Ford Motor Co., talks about the future of the automobile and how Ford will innovate and change demand like they did with the Model T.

Detroit Free Press

At 8 a.m. Thursday on the first day of Jim Farley stepping into his new CEO role at Ford Motor, the company announced “operational and leadership changes” designed to do what Farley has promised publicly: drive growth and speed transformation of the 117-year-old automaker.

The plan, Ford said, is to “turn around automotive operations; allocate capital to Ford’s strongest franchises and high-growth opportunities, and produce compelling, uniquely Ford electric vehicles at scale.”

First of all, Farley replaced the relatively new Chief Financial Officer Tim Stone with Ford veteran John Lawler, 54, effective immediately. Lawler will oversee the finance and Ford Motor Credit operations. Stone accepted a job at ASAPP Inc., an artificial intelligence software company.

Ford CEO Jim

Ford hauls in best Q3 pickup sales since 2005

October 2, 2020

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Ford Americas & International Markets Group President Kumar Galhotra discusses U.S. manufacturing and its investment in building an all-electric F-150 in the coming years.

Ford truck sales increased .6% in the third quarter as the auto industry continues its recovery from the effects of the coronavirus pandemic.

The F-Series and Ranger were up 4% combined and delivered the brand’s best Q3 pickup sales since 2005.

“F-Series finished the quarter on a high note with September sales up 17.2 percent with over 76,000 F-Series pickups sold,” Ford vice president, U.S. Marketing, Sales and Service Mark LaNeve, said in a press release on the report.

Ranger sales have increased 31.1% year over year through September, while the F-Series is down 11.1% as Ford begins transitioning to an all-new version of the F-150 for 2021. Ford and Lincoln’s total sales dropped 4.9% for the quarter.

LINCOLN WON’T BUILD A NEW PICKUP, EXEC. SAYS

Ford Appoints John Lawler As New CFO

October 1, 2020

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(RTTNews) – Auto giant Ford Motor Co. (F) has announced the appointment of John Lawler as new Chief Financial Officer, overseeing the Finance and Ford Motor Credit organizations.

Lawler will succeed Tim Stone, who has accepted a position as COO and CFO at ASAPP Inc., a research-driven, artificial-intelligence software company. Stone will remain with Ford through October 15 to ensure a smooth transition.

CEO Jim Farley said, “John knows our company inside-out, has a clear view and great ambition for what Ford can be, and articulates what’s needed to get there. As CFO, he will help assure we have the means to fund those ambitions.”

On Thursday, October 1, Farley succeeded Jim Hackett as Ford’s president and CEO. Farley said Ford plans to move with urgency to turn around its automotive operations – improving quality, reducing costs and accelerating the restructuring of underperforming businesses.

Farley said the company’s objectives include

Ford finance boss will return to tech sector in management overhaul

October 1, 2020

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Ford’s chief financial officer is leaving the company less than two years after joining from technology group Snap as the US carmaker announced a series of management changes on new boss Jim Farley’s first day in charge.

Tim Stone, who joined in April 2019, will move to AI software group ASAPP as its finance and operations chief, Ford announced.

He will be replaced by John Lawler, a 30-year veteran of Ford, who most recently ran the group’s autonomous vehicle unit.

Mr Farley, who replaced Jim Hackett as Ford chief executive on Thursday, also unveiled a clutch of changes and set out plans for the company he has been tasked with turning round.

Shares dropped 40 per cent under the tenure of Mr Hackett, the former office furniture executive who was a surprise appointment as Ford’s boss three years ago.

While Mr Hackett struck a deal with VW to share some

Unifor union members ratify Ford contract, big investment in Canada

September 29, 2020

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High-profile debuts include Ford’s electric Mustang SUV, a sub-$20,000 Chevy SUV, Land Rover Defender and Bollinger Motors electric SUV and pickup

Detroit Free Press

Ford Motor Co. reached a three-year deal with Unifor National that includes wage increases, bonuses and other benefits for its factory workers in Canada plus a massive financial investment in battery electric vehicles, the company announced Monday.

The union voted 81% in favor of the collective bargaining contract, which includes $1.5 billion (U.S.) in investments to bring battery electric vehicle production to Oakville and a new engine derivative to Windsor, Unifor confirmed.

“This is the single biggest investment in the Canadian auto industry in years,” said Jerry Dias, Unifor National president. “The vote … shows Unifor members have a clear vision of a strong and prosperous Canadian auto sector.”

Highlights include $1.4 billion (U.S.) to retool and build new battery electric vehicles in Oakville, “including