Longer term, it's not healthy for the industry, and frankly it's not sustainable,

These plant and benefit actions, while painful for our employees, are necessary as we confront a serious situation, ... More tough decisions will follow in the months to come.

Steve's ability to drive results throughout an organization will be missed. His knowledge of our business undoubtedly will serve him well as our newest Ford dealer. This new endeavor, which he has chosen to pursue, demonstrates his confidence in the Company and its future.

In addition, we are working with fuel providers to expand the infrastructure needed to provide ethanol. And we're going to actively engage customers so they will understand that they have (flex-fuel vehicle) options.

Innovation will be part of this new supplier partnership -- as it will be part of every aspect of our business strategy going forward, ... Not only does innovation apply to safety, technology and design, it also will differentiate how Ford and our suppliers will define our relationship going forward.

Greg is a seasoned veteran with leadership experience in operations and finance, ... His broad, balanced understanding of the enterprise gives him the insights needed to direct our corporate staffs, guide our corporate strategy and offer good counsel at the highest levels of the Company.