The Globe and Mail reports in its Wednesday, May 24, edition that Ford
Motor ousted chief executive officer Mark Fields was
replaced Monday by Jim Hackett,
the director of Ford's driverless car
division. The Globe's Eric Reguly writes that Mr. Fields was the victim of a
split investor market. In auto
land, there are two types of
investors.
There are those who are buying
into the futuristic, tech-laden
fantasy land promised by Tesla and there are those who
believe that Tesla is a mirage.
The Tesla non-believers gravitated
toward Ford. They wanted
a company that paid out a fat
dividend and made excellent
cars that slowly travelled along
the technology curve. They
did not want a company that bet
the farm on a technology that
might prove fleeting or shred
the business if it were to go
wrong.
So far, Tesla is winning. Telsa's
believers think Elon Musk's creation
is like Apple in 2007, just
before the launch of the iPhone. Tesla's market value on
Tuesday was $51-billion (U.S.),
up 44 per cent in a year, making
it worth more than General Motors
($49-billion (U.S.)) and Ford ($43-billion (U.S.)). GM made about 10 million
autos in 2016, while Tesla
produced about 84,000.
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