Mr. Ford’s challenges are extraordinary. His company reported losses of $1.6 billion in North America last year and lost $1.2 billion worldwide in the first quarter this year. On Thursday, Ford halved its quarterly dividend to a nickel to preserve cash, and analysts expect the company to report tepid second-quarter earnings this week. Many are already forecasting a third-quarter loss. With analysts speculating that the dividend cut means that Ford’s fortunes are worsening, Mr. Ford issued a statement noting that “the headwinds we faced at the beginning of 2006 have only become stronger.”
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