Global business news twenty four hours a day. If Bloomberg dot com, the Radio plus mobile app and on your radio. This is a Bloomberg Business Flash from Bloomberg World Headquarters. I'm Charlie Pellot, the Dollins and Pierre Higher naz Deak lower on this update brought to you by Anson Block and Ansion name the best accounting firm in North America for the six year in a row by hedge week dot Com. Now let's head over to the First Word Breaking news desk for today's afternoon call, and here is
Bill Maloney. Good afternoon, Charlie. Big reversal today for you as stocks with the Dow currently higher by seventy three point scipes Game three and NAZAC falls a point at one point, the Dow is down a hundred and sixty nine points up of market School is lower despite his surge in the last hour of trade. Italy fell one percent and the U S small cap six hundred is
down three points. The US tenniel at one point five six percent, held the key test of the February lows, and seven out of n SB sectors are higher, led by gains and telecom, utilities and consumer staples. Industrials and energy led to the downside. Down Transports fault six, Nazi, botexs lose six, and the vix is a little changed. Down Leaders included Mark three M and Microsoft, Nike and Boeing led to the downside. Look for Oral, Look for Oracle.
Results after the bell estimates are four eighty two cents on revenues of ten point four seven billion. Live on the first Breaking news task on Bill Maloney, Charlie, all right, thank you to hear live breaking news over your Bloomberg type squawk s q U A w K on your terminal. I'm Charlie Palaton. That's a Bloomberg business flash. You're listening to taking start with Fox on Bloomberg Radio. It's the
crown jewel of the Ford Motor Company. It's best selling model, certainly in the truck category, the Ford F one fifty. Our reporter John lipp It, though for Bloomberg News, has found in his story. He reported on for Bloomberg Today that some versions of the new F one fifty still don't meet the government's twenty sixteen admission and fuel economy mandates. And this is a problem because by those hurdles, those fuel mandates will become much more stringent. John, Welcome to
taking stock and congratulations on a very interesting story. So what is it the heart of this? What kind of what kind of problems did you turn up and how did you do it? Well? I had the heart. It is just I guess if you took a poll, everybody would say I'm in a a favorite of clean air. But the question is was it take to get that? And so we're talking about the Crown Jewel. As you said, you know, the a half of for its North American profit is wrapped up in these big pickups. And big pickups.
You know, they have four wheel drives, they have town capability, they have all this stuff, and plus are not very good aerodynamically. So it's just harder to move the needle on a big pick up than it is on a Ford Focus. So it's not and we've got to point out, I mean, it's not just Forward that's struggling, because it's everybody and um and and the government is you know,
they're showing no signs of backing off. I mean Obama has has said fifty four point five miles from bawling as a as a corporate average, and that's where the government intends to go John, I just want to offer a statement from Ford because we contacted them, of course because of the story. Uh. They said that Bloomberg's F
one fifty story is wrong. They said that Ford exceeds fuel economy standards and the F one fifty is a strong positive contributor to Ford's fuel economy compliance and say that the F one is also has best in class gasoline fuel economy customs, recognizing F one fifties best in class capability and fuel efficiency with strong and grow sales while major competitors are losing market share end quote. What
is your response? Well, I think that I think that the forward, I mean we our headline said the fifty has a big problem, right and forward that that's the core of They're saying that that headline implies that the entire program is auto compliance now and so on and and and that's notw what're that's how the story says.
So so when we use the word problem, we're saying, um, after having spent a lot of money in six years to redesign and put aluminum body for you know, a lot of technology, after having done all this, there the program as a whole complies UM. But as Kathleen said that in the intro, everything gets much harder. So right now a truck you know sort of average f one fifty is about twenty four miles again, requirement that goes
to thirty three. And so I'd say they ran the Olympics um to get to this point, and now they've got to run the Olympics, you know, a bunch more times in order to keep up with where the government is taking these regulations. And of course um you cite a report by Barkley's analysts Brian Johnson, another piece of
research from Gopaul Dooley from HD Systems. So is this I'm just curious if the information they got is something that's publicly available and it's you're saying four Just this kind of disputes how the problem is described or how the issue is described rather than saying it's wrong. And if that's the case, what do they say about saying no, we can meet these targets? Well, forward, yeah, Forward is
saying that they will meet um um regulatory requirements. There you know, they're meeting them now and will continue to do so. And we when in the story, you know they've got hybrid pick up coming they're looking at diesel. They may even put a four cylinder in the F one fifty for the first time in the US. So I mean they've got a lot of uh technology that's coming.
But it's not just I mean, I mean in a way for them to say we will meet the standard, it's it's um um, it's it's it's sort of true by definition because if you if you don't meet the admission standard, you can't sell the truck and then basically boards out of business. Sean, I just want to we only have a limited amount of time. I just want to get your thoughts here. Just could you explain to people in about thirty seconds what the methodology was that
you used in order to come up with the details. Well, the methodology, I mean working with UMP to leave in others is just the targets around public by footprint on. You add up to targets and into U I mean, you add up to performance into a corporate average and it needs to see how it comes out. I mean, so the methodology is pretty straightforward. So in words to measuring the performance of the truck now against the standards as you have pissed now and then saying and what
happens when the standard moves higher going forward. Thank you very much. John Lippert, automotive reporter for Bloomberg News, speaking about Ford Motor Company. It's f one FI shares of Ford up ten cents right now th eleven cents for Ford. You're listening to taking Stock on Bloomberg Radio. Bloomberg taking Stock is brought to you by New York Community Bank. Asked about their my community in just checking with free
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