How a Boeing Exec Saved Ford from Collapse During the 2008 Recession

In 2006, Ford Motor Company was on the brink of collapse, losing a staggering $1.4 million every hour. The company's future seemed bleak, but a surprising savior emerged in the form of Alan Mulally, a former Boeing executive with no prior experience in the auto industry. Mulally's unconventional approach, which included a massive $23 billion private loan and a company-wide restructuring plan called "One Ford," proved to be a turning point. "Sometimes the best person for the job is the one with no experience at all," says The Real Oshow, the video's creator, summarizing Mulally's impact. The "One Ford" plan involved selling off non-core assets like Land Rover and Jaguar, and focusing on producing fuel-efficient vehicles that resonated with consumers. This strategic shift, coupled with Ford's refusal of a government bailout, allowed the company not only to survive but to thrive. By 2009, while General Motors and Chrysler accepted billions in bailout money, Ford had emerged stronger, adding $27 billion to its market capitalization. This remarkable turnaround serves as a testament to Mulally's visionary leadership and Ford's resilience.