Ford CFO: The Turnaround Completed
In retrospect, everything changed in late 2009, when the automaker began to produce operating cash flow and its executives came to realize they no were no longer swimming against the tide.
|Ford CFO Lewis Booth|
"When we got into positive operating cash flow in the third quarter, we began to think that we were on our way to profitability and that we needed to make sure we were not just paying down debt and investing in new products, but also investing in growth opportunities," said CFO Lewis Booth, in an interview with TheStreet.
"We were beginning to get our thoughts together," said Booth. "We had plans for Brazil ... Now, we're investing heavily in growth."Ford's share price reflects the transition. In 2009, shares rose 335%, the kind of appreciation that often occurs when investors abandon the perception that a company is a bankruptcy candidate -- Ford traded as low as $1.01 in November 2008 -- and realize it is going to survive.
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