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Cost cuts, revved-up profit power Padilla rise at Ford.(Chicago Tribune)
Publication: Knight Ridder/Tribune News Service Publication Date: 30-APR-04 Author: Mateja, Jim
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COPYRIGHT 2004 Knight-Ridder/Tribune News Service
Byline: Jim Mateja
Last week was a good one for Jim Padilla.
Ford Motor Co. reported a $2 billion profit for the first quarter, double that of a year earlier, thanks in large part to Padilla's cost-cutting efforts and his insistence that incentives not be tossed around wildly to buy sales.
And the next day Padilla was named chief operating officer of Ford Motor Co.
Padilla also was able to shed what may be the worst job title in the industry _ president of the Americas, a job that sounds as if it comes with throne and crown when it only means he was responsible for what Ford built and sold in North and South America.
Padilla is a professed cost-cutter.
"In Michigan I shop at Costco....
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