Ford Motor Co. is backing off its goal of $7 billion in pre-tax profits by 2006. Recent difficulties in the U.S. market and uncertainties abroad are forcing it to rethink its previously stated target, which is not seen as a do-or-die mandate, Chairman and CEO Bill Ford says in a prepared statement. “Obviously, there are actions we could take to achieve our pre-tax profit goal of $7 billion for 2006, but we will not mortgage Ford’s future by chasing an objective set under vastly different ...
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