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Ford board aims to pin down CEO Mulally’s plans

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DETROIT/NEW YORK – Ford Motor Co’s board of directors plans to press Chief Executive Alan Mulally soon for a decision on his future, as speculation intensifies that he may be offered the job of CEO at Microsoft Corp.

Mulally, 68, is one of a handful of candidates still in contention for the Microsoft role, according to several sources close to the technology giant, and he has not tried to dispel talk that he is interested in the job.

That has begun to vex some on Ford’s board, two sources told Reuters this week, and the issue will be discussed when the board meets in the Detroit area on Thursday.

Mulally is a board member but it is not clear if he will attend the board meeting. The sources said that directors intended to raise the issue with him this week or next.

“It’s drowning out the rest of the story,” said one source close to Ford’s board. “People don’t write about Mustang, they don’t write about earnings, they write about Mulally.”

That has led to frustration and a desire for clarity, the source said.

fordMicrosoft declined comment on the progress of its CEO search, and a Ford spokesman repeated earlier statements that Mulally is slated to stay as Ford CEO through 2014, although it emerged in September that the board would be open to him leaving earlier than that.

Several prominent Microsoft investors have campaigned behind the scenes for Mulally to succeed the retiring Steve Ballmer, and media attention has focused on him over the past few months. Sources with knowledge of the tech company’s hunt for a new leader say Mulally is among a “handful” of contenders, and that Microsoft is strongly considering a younger, more tech-savvy external candidate.

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Mulally, credited with reviving Ford’s fortunes since taking the helm in 2006, has already scaled back his involvement at the automaker this year, allowing younger executives to take a more prominent role, several people close to the automaker said.

Even if Mulally does not take the Microsoft job, it is unlikely he will stay at Ford through the end of next year, the two sources said. The board has gained confidence in Chief Operating Officer Mark Fields, a 24-year Ford veteran who is widely expected to be the next CEO.

“He has done what he needs to at Ford,” said one person familiar with Mulally’s thinking.

Mulally, poached from Boeing Co in 2006 to steer the U.S. automaker’s turnaround, is credited with driving a culture change that saved Ford. That has made him an attractive candidate for Microsoft as the tech behemoth struggles to make a mark in the mobile-computing era.

But the speculation over whether he will take the Microsoft job has been a distraction for Ford, the sources said. The automaker is on the cusp of several key launches next year, including a risky and radical overhaul of one of its most profitable vehicles, the F-150 pickup truck.

On top of that, rival General Motors Co put the topic of auto industry leadership firmly in the spotlight on Tuesday with the surprise announcement that long-time insider Mary Barra would become its next CEO.

– REUTERS

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Motoring

FCTA Pulls Plugs On Taxi Rank, Terminal Services Contracts

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The Federal Capital Territory Administration (FCTA) has ended contracts with taxi rank and terminal operators due to their failure to meet engagement terms and conditions.

Mr. Ubokutom Nyah, the Mandate Secretary of the Transportation Secretariat, FCTA, made this announcement during a meeting with managers of these terminals and taxi ranks in Abuja.

Nyah clarified that due to the operators’ failure to fulfill their engagement terms, the FCTA had to terminate their contracts.

He instructed them to transfer control of the ranks to the Administration within three months, starting from Nov. 21.

He lamented the presence of unauthorized motor parks in the city and assured the readiness of the Administration to establish proper taxi ranks and terminals in the capital.

He revealed that personally visiting the city’s taxi ranks, terminals, and unauthorized motor parks gave him direct insight into the poor condition of these facilities.

He emphasized that as the federal capital city, Abuja deserves better, highlighting that the poor condition of these facilities attracts various criminal elements.

He said “We must rid Abuja of all these. I have gone round the taxi ranks, and of all the places I visited, not one is worthy to be called even a village motor park.”

The Mandate Secretary stressed that the intention wasn’t punitive; rather, it aimed to revamp the sector, introduce new engagement terms, and modernize taxi ranks and terminals in the federal capital.

He also highlighted the plan to increase the number of terminals and ranks where necessary, which would positively impact the administration’s revenue.

He emphasized that this measure was part of a broader effort to eliminate illegal motor parks in Abuja and curb the associated criminal activities.

In response, Mr. Adebisi Lawal, the Operator of Jahi Taxi Rank, praised the administration’s initiative to modernize the taxi ranks and terminals.

Lawal urged the administration to prioritize current operators’ involvement in the selection of new developers for the modernization of the taxi ranks and terminals.

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Motoring

Power Show Sees Soldiers Batter LASTMA Officer

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It was a show of power at the Ojota area of Lagos on Monday as soldiers pummeled an officer of the Lagos State Traffic Management Authority, (LASTMA).

Eyewitness accounts claim that the ugly scene played out around 8am, and saw about eight soldiers pounce on the yet to identified LASTMA official, while his colleagues took to their heels.

The video of the melodrama has gone viral, where the LASTMA official was appealing to the soldiers, who appeared bent on ‘teaching him a lesson’.

This onslaught comes on the back of a reported assault of a soldier at the same location by LASTMA officials last week.

It would appear that what played out today was the army asserting its authority and defending their khaki as the armed soldiers carried out what looked like a revenge mission.

Eyewitnesses further averred that the victim was rushed to a nearby hospital, after the soldiers left the scene.

It was gathered that the authorities at LASTMA has reported the incident to the military authorities who are said to be looking into the matter.

Meanwhile many members of the public are rejoicing that the soldiers have taught the crude LASTMA official that power is stronger than power, for all their atrocities against motorists on Lagos roads.

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Intra-City Fares Skyrocket By 98% Month-On-Month – NBS

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Kogi, Ogun, Cross River Propel Mining Sector’s 17.95% Growth – NBS

The impact of the removal of subsidy on Premium Motor Spirit (PMS), otherwise known as petrol, has seen the pump prices of the product skyrocket with a corresponding increase in the cost commercial transportation in Nigeria.

According to the National Bureau of Statistics (NBS), intra-city bus transportation fares across Nigerian cities, measured between May and June 2023, increased from N649.59 to N1,285.41 in June 2023.

This translates to 98 percent growth or N635.82 within the month in view.

The NBS made the data available in its Transport Fare Watch report for June 2023.

In the report, the NBS also shared the breakdown of bus journeys within the cities per drop for constant routes; bus journey intercity (state route); charges per person, amongst others.

On a year-on-year basis, the report has it that bus fares rose by 120.63 percent from N582.61 paid by commuters in June 2022.

The average fare paid by commuters for bus journey intercity per drop rose to N5,686.49 in June 2023 compared to N4,002.16 in May 2023 indicating an increase of 42.09 percent, month-on-month.

The report read, “The average fare paid by commuters for bus journeys within the city per drop increased by 97.88 per cent from N649.59 in May 2023 to N1,285.41 in June 2023.

On a year-on-year basis, it rose by 120.63 per cent from N582.61 in June 2022.

“In another category, the average fare paid by commuters for bus journey intercity per drop rose to N5,686.49 in June 2023, indicating an increase of 42.09 on a month-on-month basis compared to N4,002.16 in May 2023.

“On a year-on-year basis, the fare rose by 55.25 per cent from N3,662.87 in June 2022.”

Biztellers reported that the twin forces of forex pressure and increasing price of Brent in the global market would likely see the pump prices of petrol, increased again in no distant time in Nigeria.

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