Ford says it’s going to spend $11 billion on a plan to revitalize its business. There’s a big problem, though: Ford won’t say what the plan is.
To say some Wall Street analysts were peeved would be putting it politely.
Barclays analyst Brian Johnson said he’s worried Ford “does not have a good handle on either the operational or strategic levers of the global business.”
On a conference call with Ford executives, Morgan Stanley’s Adam Jones said Ford’s communication strategy is “just not good enough,” and accused Ford of “teasing the market with these very large numbers.” He questioned whether CEO James Hackett is going to last in his job.
RBC Capital, Barclays and Craig-Hallum analysts lowered their estimates for Ford’s stock.
Ouch.