When Ford announced a quarterly loss of $123 million nearly two weeks ago, there were serious concerns over the automaker’s future, and its restructuring plan. Today, Ford announced its loss was actually double the initial report — $254 million. The automaker cited pension costs related to North American job cuts. Ford also changed its 2006 outlook to a loss for its Premier Automotive Group (See our earlier report on the PAG). “Ford is in worse shape than GM right now,” said consultant Maryann Keller, president Maryann Keller & Associates in Greenwich, Connecticut. “There is a dearth of seasoned management. As far as product, they’ve got to catch up in passenger cars while they also face new pickups from GM and Toyota that are going to hurt their most profitable vehicle.”
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