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Post by Bundy on May 24, 2012 21:17:36 GMT 10
Blue Oval back
The iconic blue oval logo was part of Ford's asset sell-off six years ago... But it's back now
When Ford's finances were particularly dire and the company was forced to find liquidity in 2006, part of the sell-off included the company's iconic Blue Oval logo.
It seems profane but along with the Blue Oval, Ford had also pledged the F-150 and Mustang trademarks. Apart from its domestic facilities, the trademarks are some of the most valuable aspects to the company's worth.
Fortunately, by October 2009 Ford was able to report its first quarterly pre-tax operating profit since Q1 2008, after two years' working closely with the UAW, involving lower wage structure for new employees and flexible work rules. By the end of 2009 Ford was ahead by 2.7 billion and by 2011 had paid back an industry support loan.
March this year Ford received its first dividend payment in six years. Yesterday, Moody's upgraded Ford's 'junk' debt status; a month after Fitch Ratings.
The significance of the return of the trademarks was not lost on employees.
"When we pledged the Ford Blue Oval as part of the loan package, we were not just pledging an asset. We pledged our heritage," admitted Bill Ford Jr.
"The Ford Blue Oval is one of the most recognised symbols in the world, and it is a source of great pride and passion, both inside and outside our company. Getting the Ford Blue Oval back feels amazing, and it is one of the best days that I can remember."
CEO Alan Mullaly said: "We are so proud of today's decision by Moody's and the resulting release of all collateral -- particularly the Ford Blue Oval.
"This is an important milestone and further proof that, by staying laser-focused on our One Ford plan, the Ford team can deliver great products, build a strong business and contribute to a better world even through the most challenging external environment."
www.motoring.com.au/news/2012/blue-oval-back-30452 Didn't know they had sold this asset at the height of their financial troubles, but good for Ford, employees and workers to get it back as Ford's identity is lost if they don't have the blue oval. |
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djrford
Formula Ford Driver
Posts: 158
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Post by djrford on May 24, 2012 21:37:14 GMT 10
Yeah I never knew they sold it either, but it's great to have it back! Did you see that photo of Ford employees in blue and white shirts in the formation of the Ford badge? That was cool!
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Post by donk on Jun 11, 2012 16:13:36 GMT 10
Blue Oval back
The iconic blue oval logo was part of Ford's asset sell-off six years ago... But it's back now
When Ford's finances were particularly dire and the company was forced to find liquidity in 2006, part of the sell-off included the company's iconic Blue Oval logo.
It seems profane but along with the Blue Oval, Ford had also pledged the F-150 and Mustang trademarks. Apart from its domestic facilities, the trademarks are some of the most valuable aspects to the company's worth.
Fortunately, by October 2009 Ford was able to report its first quarterly pre-tax operating profit since Q1 2008, after two years' working closely with the UAW, involving lower wage structure for new employees and flexible work rules. By the end of 2009 Ford was ahead by 2.7 billion and by 2011 had paid back an industry support loan.
March this year Ford received its first dividend payment in six years. Yesterday, Moody's upgraded Ford's 'junk' debt status; a month after Fitch Ratings.
The significance of the return of the trademarks was not lost on employees.
"When we pledged the Ford Blue Oval as part of the loan package, we were not just pledging an asset. We pledged our heritage," admitted Bill Ford Jr.
"The Ford Blue Oval is one of the most recognised symbols in the world, and it is a source of great pride and passion, both inside and outside our company. Getting the Ford Blue Oval back feels amazing, and it is one of the best days that I can remember."
CEO Alan Mullaly said: "We are so proud of today's decision by Moody's and the resulting release of all collateral -- particularly the Ford Blue Oval.
"This is an important milestone and further proof that, by staying laser-focused on our One Ford plan, the Ford team can deliver great products, build a strong business and contribute to a better world even through the most challenging external environment."
www.motoring.com.au/news/2012/blue-oval-back-30452 Didn't know they had sold this asset at the height of their financial troubles, but good for Ford, employees and workers to get it back as Ford's identity is lost if they don't have the blue oval. So, they have got the problem that is circled back!  |
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