Uni’s Blog

When CEO Takeo Fukui says he would spend $10 billion to rack up a Formula One victory for Honda, you get the sense that he really means it.

Under Fukui’s five-year leadership, Honda Motor’s (7267.T: Quote, Profile, Research) car sales have jumped by a third and profits by an even bigger margin to a record $5.8 billion last year.

But it’s the lack of an F1 win that sticks in the craw of the 63-year-old former engineer, who joined Honda precisely because it was the first Japanese automaker to enter the world’s premier motor sport.

Ford Motor Co., which a month ago seemed on the cusp of a turnaround, with a $100 million first-quarter profit, today said it would not likely achieve its 2009 goal of profitability for its troubled North American business unit and is revamping its turnaround plan for the second time since 2006, when it launched its Way Forward plan.
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That will include more personnel reductions by Aug. 1, according a memo from Ford CEO Alan Mulally to employees today.

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