PREVIEW-Ford walks tightrope amid industry downturn

Wed May 13, 2009 11:46pm BST
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* What: Ford annual shareholders meeting

* When: Thursday, May 14 at 8:30 a.m. EDT (1230 GMT)

* Where: Wilmington, Delaware

* Shareholder vote on UAW healthcare trust funding

* Ford shares down 40 percent in past year

By David Bailey

DETROIT, May 13 (Reuters) - Ford Motor Co (F.N: Quote, Profile, Research) executives face stockholders on Thursday to detail the automaker's plans to complete a turnaround without resorting to U.S. government help and steer clear of the industry collapse now swallowing rivals General Motors Corp GM.N and Chrysler.

After a wild ride over the past year, Ford investors have seen the automaker's stock increase three-fold since mid-February as the company pressed ahead of its cross-town rivals with agreements to restructure its debt and cut its obligations to the United Auto Workers union.

Ford, the only U.S. carmaker not operating on emergency U.S. government loans, mortgaged itself to the hilt in late 2006 to amass cash for a turnaround that remains on track as Chrysler was forced into bankruptcy on April 30. GM could join Chrysler in Chapter 11 within weeks.  Continued...

 

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