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Mulally: Ford turnaround on track

Ford Chief Executive Alan Mulally, said today that the automaker's sweeping turnaround remained on track, according to USA Today.
"This is a massive, massive restructuring of Ford and generally it's going, it's going pretty well," Mulally said in a speech at the New York International Auto Show.
Ford, which has announced plans to shutter 16 plants, lost $12.7 billion last year and mortgaged its factories, brand names and other items to secure a $23.4 billion line of credit to pay for its restructuring plan and cover losses expected until 2009, the paper said.

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