Ford's (F), CEO, Alan Mulally, Addresses Capitol Hill

Ford's (NYSE: F), CEO, Alan Mulally, Addresses Capitol Hill.

Mulally says the company has already begun transformation, selling Aston Martin and Range Rover brands, reducing stake in Mazda and recently announcing considering the sale of Volvo. Mulally says the company will be concentrating focus on Ford's main brand, 'The Blue Oval'.

Mulally says the company used to focus on trucks, but now focuses on a balanced portfolio. He also appreciates the UAW working with Ford to help the company become more competitive.

Ford is now 'Laser Focused' on quality, fuel efficiency, safety and customer satisfaction.

Mulally says Ford doesn't anticipate a near-term liquidity issue and sees profitability in 2011. BUT, Ford is requesting access to a $9 billion line of credit/bridge loan.

Ford Motor Company (Ford) is a producer of cars and trucks. The Company and its subsidiaries also engage in other businesses, including financing vehicles. [SM]

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