Rubin Quites Ford’s Board

The headline, “Citigroup Inc. senior executive Robert Rubin resigned his seat on the Ford Motor Co. board of directors this week in a move that could signal big changes ahead for the automaker, including the potential for a major asset sale.”

Rubin joined the board in 2000, and shares of Ford (F) rose 3.1% to $8 on Friday as many continue to speculate what could happen to Ford. Some say there is a big possibility of going private, and everyone agrees something has to happen soon before any real changes can be made. The next board meeting is set to take palce on Septh 14th, and could hold announcements of more white-dollar job cuts and additional plant closures.

More on this topic (What's this?)

Citi Considers Selling Itself, in Whole or In Parts (And is Barking Up Wrong Tree re Shorts) (naked capitalism, 11/20/08)

Unsold Goods Piling Up at Long Beach (naked capitalism, 11/18/08)

Citi “weighs options” (Option ARMageddon, 11/20/08)

Read more on Auto Makers, Ford Motor Company, Citigroup at Wikinvest

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