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Top News & Analysis Detroit

  • Ford Motor Co. announced Monday that President and CEO Mark Fields was retiring from the company and will be replaced by Ford board member Jim Hackett. July 1, 2014: Ford President and CEO Alan Mulally retires. Mark Fields, who has been Ford's chief operating officer since 2012, becomes president and CEO.

  • WASHINGTON/ DEARBORN, Mich., May 22- Ford Motor Co abruptly named James Hackett as chief executive on Monday, responding to investors' growing unease about the U.S. automaker's slumping stock price and its ability to counter threats from longtime rivals and Silicon Valley. Ford Chairman Bill Ford Jr., whose family effectively controls the U.S.

  • WASHINGTON/ DEARBORN, Mich., May 22- Ford Motor Co abruptly named James Hackett as chief executive on Monday, responding to investors' growing unease about the U.S. automaker's slumping stock price and its ability to counter threats from longtime rivals and Silicon Valley. Ford, once the most financially secure of the' Big Three' Detroit automakers, and the only one...

  • Industrialist Henry Ford founded the Ford Motor company in 1903. A titan of industry, Henry Ford was the first to adapt assembly line techniques to the auto industry with the Model T, and for the first time brought car ownership into the realm of possibilities for middle-class Americans. Edsel Ford unexpectedly died in 1943, at the height of World War II, forcing...

  • DETROIT— The U.S. government is investigating whether Hyundai and Kia moved quickly enough to recall more than 1.6 million cars and SUVs because the engines can stall, increasing the risk of a crash. Hyundai recalled about 470,000 vehicles in September of 2015 because debris from manufacturing can restrict oil flow to connecting rod bearings.

  • WASHINGTON/ DEARBORN, Mich., May 22- Ford Motor Co on Monday named James Hackett as chief executive officer, responding to investors' unease about the U.S. automaker's stock price and ability to withstand threats from longtime industry rivals and Silicon Valley. Hackett, 62, who overhauled furniture maker Steelcase Inc and then turned around the ailing...

  • WASHINGTON/ DEARBORN, Mich., May 22- Ford Motor Co on Monday named James Hackett, who heads its unit developing self-driving cars, as chief executive officer, responding to investors' growing unease about the U.S. automaker's stock price and prospects. He replaces Mark Fields, 56, who spent less than three years as CEO. Executive Chairman Bill Ford Jr. and the board...

  • WASHINGTON/ PARIS, May 22- Ford Motor Co is replacing Chief Executive Officer Mark Fields with James Hackett, the head of the unit developing self-driving cars, the U.S. automaker said on Monday, responding to investors' growing unease over its stock price and prospects. Executive Chairman Bill Ford Jr. and the board have been unhappy with the company's...

  • SAN JUAN, Puerto Rico— Puerto Rico is seeking help from federal court to restructure the debt of the U.S. territory's public pension system, which is projected to run out of money this year. "The government's liquidity and solvency problems are massive, and Title III has now become necessary to protect the people of Puerto Rico," the board said in reference to the...

  • WASHINGTON/ PARIS, May 22- Ford Motor Co on Monday said it was replacing replace Chief Executive Officer Mark Fields with James Hackett, the head of the unit developing self-driving cars, in response to investors' growing unease over the U.S. carmaker's stock performance and prospects. Hackett, 62, a former CEO of furniture manufacturer Steeelcase Inc, will take...

  • *Mobility boss James Hackett to be new CEO- sources. *Ford of Europe boss to return to US-based role- sources. PARIS/ DETROIT, May 22- Ford Motor Co. is set to replace Chief Executive Mark Fields with James Hackett, the head of its mobility arm, company sources said, responding to growing investor unease over the U.S. carmaker's stock performance and prospects.

  • PARIS/ DETROIT, May 22- Ford Motor Co is expected to announce the departure of Chief Executive Mark Fields in a broad management shake-up, a company source said- a move that reflects growing investor unease over the company's stock market performance and outlook. Forbes and the New York Times reported that James Hackett, 62 and chairman of the Ford unit that works...

  • DETROIT, May 22- Ford Motor Co Chief Executive Mark Fields is set to leave the carmaker as part of a shake-up that includes other top executive changes as the company's shares hover near a 52- week low, several media reported on Monday. Forbes and the New York Times reported James Hackett, head of the Ford unit that works on autonomous vehicles, would take the reins.

  • DEARBORN, Michigan— Ford is replacing CEO Mark Fields as it struggles to keep its traditional auto-manufacturing business running smoothly while remaking itself as a nimble, high-tech provider of new mobility services. Fields will be replaced by Jim Hackett, a former CEO of office furniture company Steelcase Inc. who joined Ford's board in 2013.

  • DETROIT— Ford is replacing its CEO amid questions about its current performance and future strategy. A person familiar with the situation says CEO Mark Fields is retiring at age 56 after 28 years at the company. He is the former CEO of office furniture maker Steelcase.

  • COLUMBUS, Ohio— Want to know how much money governments give away in corporate tax breaks? The nonprofit Government Accounting Standards Board changed its guidelines beginning in 2016 to require reporting of economic development tax breaks. "Before you get to the question of whether they're getting their money's worth, you have to know how much is being spent,"...

  • WASHINGTON, May 19- Ford Motor Co said Friday it would invest $350 million to upgrade its Livonia transmission plant in Michigan as the company expands its lineup of powertrains. Last year, the No. 2 U.S. automaker announced it was investing a separate $1.4 billion in the Livonia transmission plant near Detroit. The company said Friday employment at the Livonia...

  • LIVONIA, Mich.— Ford is pumping $350 million into a plant outside of Detroit where a new transmission for fuel-efficient vehicles will be built. The Dearborn, Michigan, automaker said Friday that the investment in the Livonia Transmission Plant is expected to create or keep 800 jobs. Upgrades to the Livonia facility are part of more than $2.25 billion in...

  • DETROIT— The Latest on the death of musician Chris Cornell in Detroit:. The family of musician Chris Cornell, who was found dead in his Detroit hotel room, issued a statement through an attorney refuting "inferences that Chris knowingly and intentionally" killed himself. Chris Cornell, one of the most lauded and respected contemporary lead singers in rock music...

  • But many farmers are nervous about another plank in Trump's agenda: His vow to overhaul U.S. trade policy, including his intent announced Thursday to renegotiate the North American Free Trade Agreement with Canada and Mexico. Farm Country went on red alert last month when it looked as if Trump wasn't even going to pursue a NAFTA rewrite: White House aides had...