DOCSLIB.ORG

Ford and the World Automobile Industry in 2012

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Ford and the World Automobile Industry in 2012 Ford and the world automobile industry in 2012 At the beginning of 2012, the Chief Financial Offi cer of Ford Motor Company, Lewis Booth, was reviewing his fi nancial forecasts for 2012-16. Ford’s turnaround since the crisis of 2007-8 had been remarkable. After a loss of $14.7 billion in 2008, Ford earned net profi ts of $6.6 billion in 2010, and it looked as though Ford’s profi t for 2011 would exceed this. The recovery had been much more rapid than Booth had expected. Ford’s business plan of December 2008 projected that it would not break even until 2011.1 Booth attributed the speed of the turnaround to three factors: fi rst government measures in North America and Europe to stimulate demand through incentives for scrapping old cars and subsidies for purchasing new, fuel-effi cient models; second, the recovery of demand in several major markets including China, India, Brazil and the US; third, Ford’s own restructuring. The “One Ford” transformation plan introduced in 2006 had closed plants, cut Ford’s workforce from 295 000 at the beginning of 2006 to 148 000 at the end of 2011, sold Jaguar, Land Rover and Volvo and a large chunk of Mazda; integrated Ford’s global activities; and accelerated product development including an increasing emphasis on smaller cars. Despite these successes, Booth looked to the future with much trepidation. Ford’s performance over the next fi ve years would depend on three main factors: Ford’s ability to continuing success with its One Ford strategy, the state of the world economy, and developments in the global automobile industry. On the fi rst of these, Booth had few doubts. On the second, he realized that, for all the uncertainty, there was little that Ford could do other than closely monitor the unfolding economic situation and be prepared to adapt to unforeseeable events. On developments in the global automobile industry, Booth was perplexed. The collapse in industry profi tability in 2007-9 and descent into bankruptcy of General Motors and Chrysler was not simply a consequence of the fi nancial crisis. It also refl ected www.foundationsofstrategy.com CCASE02.inddASE02.indd 1 229/02/129/02/12 44:27:27 PPMM the massive structural problems of the industry—most notably, too many fi rms with too 2 much capacity chasing too little demand. The catastrophic declines in industry revenues FOUNDATIONS OF STRATEGY OF FOUNDATIONS and profi ts in 2008 promised a major industry restructuring. Daimler’s CEO had predicted that 2009 would be a “Darwinian year” for the auto industry. Yet, the industry’s pre-crisis structure survived almost intact. The Financial Times commented: [I]nstead of natural selection, something else happened: governments around the world, from Canada and Brazil to Russia and South Korea, stepped in with prodigious amounts of cash to keep car plants open and assembly lines running. All told, automakers have benefi ted from well in excess of $100 billion of direct bail-out funds or indirect state aid . the biggest ever short-term intervention in manufacturing . (T)he money has prevented a necessary shake-out in an industry that has long had too many producers. Consultants at PwC estimate the industry has the capacity to build 86 million units this year, almost a record—and 31 million more than the 55 million vehicles that it will sell.2 Even before fi nancial crisis hit, the fi nancial performance of the industry was dire: between 1990 and 2008 the world’s fi ve biggest auto makers (GM, Toyota, Ford, Daimler- Chrysler and Volkswagen) had earned on average a net margin of 1.1%; their return on invested capital and together they had destroyed billions in shareholder value. However, despite the lack of exit or consolidation by the leading auto makers, it was clear that the structure of the industry was far from remaining static. The shifting of demand from the mature industrial nations to the growing markets of Asia, Eastern Europe and Latin America was accompanied by the emergence of new competitors from these same regions. Meanwhile, new technologies and environmental concerns—including the growing use of all-electric vehicles—wereredirecting the industry’s development path. Understanding how these diff erent forces would impact the overall profi t potential of the world automobile industry would be a key determinant of Ford’s fi nancial performance in the coming years. Development of the world automobile industry3,4 The growth of demand and production Vehicles powered by internal-combustion appeared in Europe during the 1880s—Gottlieb Daimler and Karl Benz were among the fi rst. By the end of the 19th century, hundreds of small companies were producing automobiles both in Europe and in America. www.foundationsofstrategy.com CCASE02.inddASE02.indd 2 229/02/129/02/12 44:27:27 PPMM During the 20th century the industry followed diff erent development paths in 3 diff erent parts of the world. The U.S. auto industry grew rapidly during 1910–28 and 1946–65 before reaching market saturation (see Figure 1).The automobile industries of IN INDUSTRY AUTOMOBILE WORLD THE AND FORD Western Europe and Japan also experienced maturing of their markets with production peaking in 1989–90. In all the advanced industrial countries the increased longevity of cars dampened market demand (see Figure 2). Despite declining output in the advanced industrialized countries, the world automobile industry has continued to grow (see Figure 3). This growth has been the Figure 1 U.S. motor vehicle production, 1900–2008 14,000,000 12,000,000 10,000,000 8,000,000 6,000,000 2012 4,000,000 2,000,000 0 1900 1905 1910 1915 1920 1925 1930 1935 1940 1945 1950 1955 1960 1965 1967 1970 1975 1980 1985 1990 1995 2000 2005 2008 Trucks and Buses 0 750 6,000 74,00 321,7 530,6 575,3 697,3 754,9 655,6 1,337 1,249 1,194 1,751 1,539 1,692 2,272 1,667 3,464 3,718 5,634 7,228 7,656 6,733 Passenger Vehicles 4,192 24,25 181,0 895,9 1,905 3,735 2,787 3,273 3,717 69,53 6,665 7,920 6,674 9,305 7,436 6,546 6,712 6,400 8,002 6,049 6,350 5,542 4,321 3,777 Passenger Vehicles Trucks and Buses Figure 2 Median age of passenger cars in the U.S. Source: R. L. Polk & Co. www.foundationsofstrategy.com CCASE02.inddASE02.indd 3 229/02/129/02/12 44:27:27 PPMM World motor vehicle production, 1965–2008 4 Figure 3 80 60.0% FOUNDATIONS OF STRATEGY OF FOUNDATIONS 70 50.0% 60 40.0% 50 40 30.0% 30 20.0% Total (millions of units) 20 US and Canada as % of total 10.0% 10 0 0.0% 1965197019751980198519861987198819891990199119921993199419951996199719981999200020012002200320042005200620072008 World Total US & Canada as % of Total result of growing output from the newly industrializing countries—notably Korea, China, Brazil, and India. (see Table 1). As a result, the proportion of world output contributed by the traditional production centers—the US, Western Europe, and Japan—fell from 77% in 1994 to 40% in 2010 (see Table 2). Table 1 World motor vehicle production by countries and regions (% of world total)1 AU: We have deleted repetition of 1960 1989 1994 2000 2005 2008 2010 Table 1. U.S. 52.0 23.8 24.5 22.2 20.0 18.6 12.9 Plz check. Western Europe 38.0 31.7 31.2 29.9 28.4 20.7 14.6 Central and E. Europe 2.0 4.8 4.3 4.6 5.4 9.5 7.7 Japan 1.0 18.2 21.2 17.7 17.0 16.7 12.6 Korea n.a. 1.8 4.6 5.0 5.3 5.5 5.6 China n.a. n.a. 2.7 3.5 5.7 13.3 24.0 World total (millions) 12.8 49.5 50.0 57.4 66.8 69.4 76.1 Note: 1 Motor vehicles include automobiles, trucks and buses. Source: A. K. Binder (ed.), Ward’s Automotive Yearbook, 2011, Wards Communications, Southfi eld MI, 2011. www.foundationsofstrategy.com CCASE02.inddASE02.indd 4 229/02/129/02/12 44:27:27 PPMM Leading automobile-producing countries (thousands of cars; Table 2 5 excludes trucks) FORD AND THE WORLD AUTOMOBILE INDUSTRY IN IN INDUSTRY AUTOMOBILE WORLD THE AND FORD 1987 1990 1995 2000 2005 2008 2010 China n.a. n.a. 356 620 3118 6341 9494 Japan 7891 9948 7664 8363 9017 9916 8307 Germany 4604 4805 4360 5132 5350 5532 5552 Brazil 789 663 1312 1348 2009 2561 2828 Korea 793 987 1893 1881 2195 2436 2793 U.S. 7099 6077 6338 5542 4321 3777 27311 India n.a. n.a. 394 541 999 1507 2317 Spain 1403 1679 1959 2445 2098 2014 1951 France 3052 3295 3051 2883 3113 2144 1914 Mexico 266 346 710 1130 846 1217 1386 Russia2 1329 1260 834 967 1288 1469 1208 U.K. 1143 1296 1532 1641 1596 1448 1274 2012 Czech Rep. n.a. n.a. 193 428 599 933 1070 Canada 810 1072 1339 1551 1356 1195 967 Poland 301 256 260 533 527 840 799 Italy 1701 1874 1422 1442 726 659 573 Notes: 1 The production data for the US do not include the large volumes of pick-up trucks and SUVs produced by the e automobile companies but classed as trucks. 2 U.S.S.R.
Load more

Recommended publications
  • Technologyquarterly September 3Rd 2011
    Artifi cial muscles Brainwave control: Marc Andreessen’s challenge motors sci-fi no longer second act TechnologyQuarterly September 3rd 2011 Changes in the air The emerging technologies that will defi ne the future of fl ight TQCOV-September4-2011.indd 1 22/08/2011 15:42 2 Monitor The Economist Technology Quarterly September 3rd 2011 Contents On the cover From lightweight components and drag-reducing paint today, to holographic entertainment systems and hypersonic aircraft tomorrow, researchers are devising the emerging technologies that will dene the future of ight. What can tomorrow’s Cameras get cleverer travellers expect? Page 10 Monitor 2 Computational photography, a new approach to desalination, monitoring yacht performance, spotting fakes with lasers, guiding nanoparticles to ght Consumer electronics: New approaches to photography treat it as a branch of cancer, mopping up oil with wool, smaller military drones, computing as well as optics, making possible a range of new tricks keeping barnacles at bay and HOTOGRAPHY can trace its roots to dierent exposures, into one picture of the religious overtones of Pthe camera obscura, the optical princi- superior quality. Where a single snap may computing programming ples of which were understood as early as miss out on detail in the lightest and dar- the 5th century BC. Latin for a darkened kest areas, an HDR image of the same Dierence engine chamber, it was just that: a shrouded box scene looks preternaturally well lit (see 9 Worrying about wireless or room with a pinhole at one end above). HDR used to be a specialised Concerns about the health risks through which light from the outside was technique employed mostly by profes- of mobile phones are misplaced projected onto a screen inside, displaying sionals.
    [Show full text]
  • 2018 Global Go to Think Tank Index Report1
    University of Pennsylvania Masthead Logo ScholarlyCommons TTCSP Global Go To Think aT nk Index Reports Think aT nks and Civil Societies Program (TTCSP) 1-2019 2018 Global Go To Think aT nk Index Report James G. McGann University of Pennsylvania, [email protected] Follow this and additional works at: https://repository.upenn.edu/think_tanks Part of the International and Area Studies Commons McGann, James G., "2018 Global Go To Think aT nk Index Report" (2019). TTCSP Global Go To Think Tank Index Reports. 16. https://repository.upenn.edu/think_tanks/16 2019 Copyright: All rights reserved. No part of this report may be reproduced or utilized in any form or by any means, electronic or mechanical, including photocopying, recording, or by information storage or retrieval system, without written permission from the University of Pennsylvania, Think aT nks and Civil Societies Program. All requests, questions and comments should be sent to: James G. McGann, Ph.D. Senior Lecturer, International Studies Director, Think aT nks and Civil Societies Program The Lauder Institute University of Pennsylvania Email: [email protected] This paper is posted at ScholarlyCommons. https://repository.upenn.edu/think_tanks/16 For more information, please contact [email protected]. 2018 Global Go To Think aT nk Index Report Abstract The Thinka T nks and Civil Societies Program (TTCSP) of the Lauder Institute at the University of Pennsylvania conducts research on the role policy institutes play in governments and civil societies around the world. Often referred to as the “think tanks’ think tank,” TTCSP examines the evolving role and character of public policy research organizations.
    [Show full text]
  • Fast Forward 2006 Annual Report
    Ford Motor Company Ford Motor Company / 2006 Annual Report Fast Forward 2006 www.ford.com Annual Fast Forward Ford Motor Company • One American Road • Dearborn, Michigan 48126 Report cover printer spreads_V2.indd 1 3/14/07 7:41:56 PM About the Company Global Overview* Ford Motor Company is transforming itself to be more globally integrated and customer-driven in the fiercely competitive world market of the 21st century. Our goal is to build more of the products that satisfy the wants and needs of our customers. We are working as a single worldwide team to improve our cost structure, raise our Automotive Core and Affi liate Brands quality and accelerate our product development process to deliver more exciting new vehicles faster. Featured on the front and back cover of this report is one of those vehicles, the 2007 Ford Edge. Ford Motor Company, a global industry leader based in Dearborn, Michigan, manufactures or distributes automobiles in 200 markets across six continents. With more than Dealers 9,480 dealers 1,515 dealers 1,971 dealers 125 dealers 871 dealers 2,352 dealers 1,376 dealers 6,011 dealers and 280,000 employees and more than 100 plants worldwide, the company’s core and affiliated Markets 116 markets 33 markets 25 markets 27 markets 64 markets 102 markets 138 markets 136 markets automotive brands include Ford, Jaguar, Land Rover, Lincoln, Mercury, Volvo, Aston Martin Retail 5,539,455 130,685 188,579 7,000 74,953 428,780 193,640 1,297,966** and Mazda. The company provides financial services through Ford Motor Credit Company.
    [Show full text]
  • 1-30-2018 2017 Global Go to Think Tank Index Report
    University of Pennsylvania Scholarly Commons TTCSP Global Go To Think Tank Index Reports Think Tanks and Civil Societies Program (TTCSP) 1-30-2018 2017 Global Go To Think Tank Index Report James G. McGann University of Pennsylvania, [email protected] Follow this and additional works at: http://repository.upenn.edu/think_tanks Part of the International and Area Studies Commons McGann, James G., "2017 Global Go To Think Tank Index Report" (2017).TTCSP Global Go To Think Tank Index Reports. 2018 Copyright: All rights reserved. No part of this report may be reproduced or utilized in any form or by any means, electronic or mechanical, including photocopying, recording, or by information storage or retrieval system, without written permission from the University of Pennsylvania, Think Tanks and Civil Societies Program. All requests, questions and comments should be sent to: James G. McGann, Ph.D. Senior Lecturer, International Studies Director Think Tanks and Civil Societies Program The Lauder Institute University of Pennsylvania Telephone: (215) 746-2928 Email: [email protected] 2017 Global Go To Think Tank Index Report Abstract Background on the Think Tanks and Civil Societies Program The Think Tanks and Civil Societies Program (TTCSP) of the Lauder Institute at the University of Pennsylvania conducts research on the role policy institutes play in governments and civil societies around the world. Often referred to as the “think tanks’ think tank,” TTCSP examines the evolving role and character of public policy research organizations. Over the last 26 years, the TTCSP has developed and led a series of global initiatives that have helped bridge the gap between knowledge and policy in critical policy areas such as international peace and security, globalization and governance, international economics, environmental issues, information and society, poverty alleviation, and healthcare and global health.
    [Show full text]
  • A Study of the Ford Motor Company
    Business Value Group LLC A Study of the Ford Motor Co Turnaround 2010 Keys : Quotes from Participants Key message or take-away Business Value Group LLC Patrick Hehir, September 2010 It is said that a man is not defined by his challenges in life but rather by his response to them. The same could be said of communities and organizations, including public companies. During the deep global recession of 2008, a myriad of companies and industries in the USA struggled to survive. Although it has been recently announced that the recession is over, its effects persist and there is significant fear that there will be a second recession that will hit late 2010 and into 2011. Given the stubbornly high level of unemployment, some even suggest that the U.S. may in fact be in a depression. During this time, our key financial and automotive business sectors ended up needing U.S. government aid to help them navigate through the toughest patch of the downturn. However there was a notable exception within the US auto industry, ONE company that never asked for or received any direct monies from the government, and that was The Ford Motor Company. Having never asked for or taken a dollar of support from the US government, Ford reported a profit of $2.7 Billion on January 29 ,2010, for fiscal year 2009, after having had a loss of $14.6B in 2008.1 This was Ford’s largest pretax operating profit in six years. “The company also outsold GM in February 2010, something that had not happened in more than 50 years, aside from several months in 1998 when GM workers were on strike.”2 In April Ford reported a profit of $2.1 Billion for quarter one of 2010 a big reversal from year ago period where it had a loss of $1.4 Billion.
    [Show full text]
  • Rtist Sigurður Guðmundsson Is a Man of the World. Living in China And
    www.grapevine.is THE ESSENTIAL GUIDE TO LIFE, TRAVEL & ENTERTAINMENT IN ICELAND IN THE ISSUE Issue 14 • 2010 • September 10 - 23 COMPLETE+ CITY LISTINGS - INSIDE! ENTREPRENEURS ECONOMICS DINING MUSIC TRAVEL Tales from Angry reader Grapevine The mash-up The Icelandic Riviera the start-ups responds, surveys soup movement meets is not where calls us commies Iceland you expect rtist Sigurður Guðmundsson is a man of the world. Living in China and mostly operating out of Holland, A he has had an unusually busy year in Iceland, along with exhibitions, unveilings and publications he even made the cover of the Grapevine. Now, find out about his adventures in Vietnam. The Reykjavík Grapevine Issue 14 — 2010 The Reykjavík GRapevine Hafnarstræti 15, 101 Reykjavík 2 www.grapevine.is [email protected] Editorial | Sveinn Birkir Björnsson Published by Fröken ehf. www.froken.is Member of the Icelandic Travel Industry Association www.saf.is Printed by Landsprent ehf. in 25.000 copies. Look Who's Back! ediToR: Due to a series of unfortunate circumstances, S. Magnússon has set for this publication. Without Haukur S Magnússon / [email protected] acTinG ediToR: I have been called upon in this hour of need to her, this issue would probably not have seen the Sveinn Birkir Björnsson / [email protected] briefly (and somewhat triumphantly) edit this is- light of day. ediToRial: sue of the Reykjavík Grapevine. It has been a There have been changes to the Icelandic +354 540 3600 / [email protected] pleasure to return to my old post as editor of the society since I left my regular position as editor advertisinG: +354 540 3605 / [email protected] Grapevine, filling in for the vacationing Haukur S.
    [Show full text]
  • Bosses Who Face Tough Tasks in ’07
    AN_070122_12.qxd 18.01.2007 13:02 Uhr Seite 12 PAGE 12 · www.autonewseurope.com January 22, 2007 Guide to Industry Executives Bosses who face tough tasks in ’07 The old saying warns: If you think getting to the top is tough, try front of Europe’s top bosses in 2007. See Pages 13-16 for a staying there. A number of the companies run by the executives we comprehensive listing of the men and women leading the feature below had a profitable 2006. Now the challenge is to do automakers that are doing business in Europe. even better in 2007, while other automakers will be trying to regain For a printer-friendly PDF version of our 2007 Guide to Executives momentum lost last year. We highlight the hurdles that stand in go to http://www.autonews.com/07europeguide Toyota is on track to surpass its targeted Premier Automotive Group Chairman Carl-Peter Forster, 52, has returned Renault CEO Carlos Ghosn, 52, will have a BMW CEO Norbert Reithofer, 50, must 1.2 million sales by 2008. But it could Lewis Booth, 59, will oversee some big General Motors Europe to profitability. busy year as he tries to put the automaker improve BMW’s profit per car. Doing this miss the goal if Toyota Motor Europe changes at the Ford-owned group of But to continue the automaker’s rise, in position to meet his goals of 800,000 will require him to decide this year President Tadashi Arashima, 57, doesn’t luxury brands. Aston Martin likely will be GM Europe’s president needs to cut additional sales and a 6 percent operating whether BMW should: fix problems in two key areas: sold this year.
    [Show full text]
  • Porsche's Gt2 Breathes Easier with Wave
    Q3, 2008 RicaRdo QuaRteRly Review Ricardo’s stroke of genius: 2/4SIGHT demonstrates 27 per cent fuel saving Niche manufacturing: Ricardo precision production for road and race Interviews: Lewis Booth, Ford of Europe Bastien Schupp & Gaelle Le Grouiec, Infiniti Europe PoRsche’s Gt2 breathes easier with WAVe Why raising the bar on performance need not necessarily mean increasing fuel consumption ALTERNATIVE THINKING ABOUT COMPUTER MODELING AND SIMULATION To achieve precise simulations, sharpen your tools. Alternative thinking is realizing that advanced simulations are impossible HP BladeSystem Enclosures without advanced tools. HP’s groundbreaking c-Class BladeSystem combined • Entry Level standalone Blade c3000 Enclosure with Ricardo’s automated mesh generation software delivers razor-sharp that plugs into standard wall socket—no data technology for rapid turn-around of CFD analyses. center required From project conception to project completion, HP experts and industry- • Simple to manage, easy to control: Integrates server, storage, networking, and power leading partners help you sharpen your computing tools to achieve higher management into a single solution accuracy simulations and reduced design times. • Easy on your budget: Reduce up-front capital costs and ongoing management costs with HP Thermal Logic Technology Technology for better business outcomes. To learn more, visit www.hp.com/go/optimize-cae www.ricardo.com © 2008 Hewlett-Packard Development Company contents Ricardo Quarterly Review Q3, 2008 08 24 15 news features 04 Industry news 08 Switching cycles Electric cars approach production reality; Porsche’s first dual CO2 savings of 27 per cent are promised as Ricardo’s clutch transmission; Honda solves super-sports bike ABS remarkable 2/4SIGHT engine switches between two- and dilemma; Mazda maps out future fuel-saving strategy four-stroke operation.
    [Show full text]
  • Strategizing Around the Globe 2 Managing Industry Competition 3 Leveraging Resources and Capabilities 4 Emphasizing Institutions, Culture, and Ethics
    1 Strategizing Around the Globe 2 Managing Industry Competition 3 Leveraging Resources and Capabilities 4 Emphasizing Institutions, Culture, and Ethics PART FOUNDATIONS OF 1 GLOBAL STRATEGY CHAPTER1 STRATEGIZING AROUND THE GLOBE © istockphoto/Alexey Stiop KNOWLEDGE OBJECTIVES After studying this chapter, you should be able to 1. Offer a basic critique of the traditional, narrowly defined “global strategy” 2. Articulate the rationale behind studying global strategy 3. Define what is strategy and what is global strategy 4. Outline the four fundamental questions in strategy 5. Participate in the debate on globalization with a reasonably balanced view and a keen awareness of your likely bias 2 OPENING CASE The Global Strategy of Global Strategy Launched in 2005, Global Strategy has been used by business schools in over 30 countries and is now available in Chinese, Spanish, and Portuguese in addition to English. Global Strategy has also spawned two related books: Glo- bal Business (a more comprehensive, traditional textbook in international business) and GLOBAL (a more compact, innovative paperback). Everybody knows global competi- tion is tough. How do Global Strategy and its sister books compete around the world? In other words, what is the nature of the global strategy of Global Strategy? Global Strategy and its sister books are published by South-Western Cengage Learning, which is a division of Cen- gage Learning. Cengage Learning serves students, teachers, and libraries in the secondary and higher education markets, as well as government agencies and corporations. While the copyright page of this book indicates an address in Mason, Ohio (a suburb of Cincinnati), note that this is the address for the specific division: South-Western.
    [Show full text]
  • Kraft Foods Inc (Kft)
    KRAFT FOODS INC (KFT) 8-K Current report filing Filed on 08/02/2012 Filed Period 08/02/2012 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): August 2, 2012 KRAFT FOODS INC. (Exact name of registrant as specified in its charter) Virginia 1-16483 52-2284372 (State or other jurisdiction (Commission (I.R.S. Employer of incorporation) File Number) Identification No.) Three Lakes Drive, Northfield, Illinois 60093-2753 (Address of Principal executive offices) (Zip Code) Registrant's Telephone number, including area code: (847) 646-2000 Not Applicable (Former name or former address, if changed since last report.) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): ¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On August 4, 2011, we announced that our Board of Directors intends to create two independent public companies: (i) a global snacks business, Mondelēz International, Inc.
    [Show full text]
  • The South African Black Youth's Likeability of African-American Advertisements
    THE SOUTH AFRICAN BLACK YOUTH'S LIKEABILITY OF AFRICAN—AMERICAN ADVERTISEMENTS by ANGELA ODETTE HUGO DISSERTATION submitted towards the completion of the requirements for the degree MASTER OF ARTS in COMMUNICATIONS in the FACULTY OF ARTS at the RAND AFRIKAANS UNIVERSITY Supervisor: Ms A Crystal JANUARY 1997 DECLARATION I herewith, declare that the dissertation, which is, handed to the Rand Afrikaans University for completion for the degree, Master of Arts, is my own unaided work and has not been submitted to any other University. , • A.O.H. JANUARY 1997 ACKNOWLEDGEMENTS My sincerest gratitude to: My parents Hans and Penny for their love, support and motivation over the years. Jaco my fiancé for his love, patience, understanding and faith in me. Barry, Ester, Rencia and Jonathan for their resolute interest. All my friends and family for their encouragement. Mom, Jaco, Porky, and Lisa for the typing, the data capturing and the proof-reading. Andrea Crystal for her guidance, support and inspiration. The staff at Sonnenberg Murphy Leo Burnett; Ogilvy & Mather; Impact Information; Integrated Market Research and Hunt Lascaris TBWA who helped me. Tholoana Qhobela; Andre Minaar; Emma Leach; Anthony Bennett; Eric Du Plessis; Teddy Langschmidt; Gill Stacey- Mhkasibe; Hope Madikane-Otto; Caroline Godide; Tholi Ngwenya and Hilary De Kok, you were all fabulous. And Our Heavenly Father, who makes all things possible. A.O.H JOHANNESBURG ABSTRACT The objective of the study was to determine the influence of African-American culture and the impact of African-American advertisements within a South African advertising communications context. The study focused on the urban black South African youth for two reasons: the first is that most of the African- American advertisements are targeted at them.
    [Show full text]
  • Think Global Act European
    think global act european European Think Tanks Contribution to the Trio of the French, Czech and Swedish Presidencies of the Union Fondation pour l’innovation politique Notre Europe Directed by Elvire Fabry and Gaëtane Ricard-Nihoul TGAE GB.indb 3 28/04/08 12:09:56 fondation pour l’innovation politique 137, rue de l’Université | 75007 Paris – France Tel.: 33 (0)1 47 53 67 00 | Fax: 33 (0)1 44 18 37 65 E-mail: [email protected] | Website: www.fondapol.org notre europe 41, bd des Capucines | 75002 Paris – France Tel.: 33 (0)1 44 58 97 97 | Fax: 33 (0)1 44 58 97 99 E-mail: [email protected] | Website: www.notre-europe.eu 2008 – ISBN 978-2-917613-08-5 TGAE GB.indb 4 28/04/08 12:09:56 index Preface Tommaso Padoa-Schioppa, Jean-Claude Paye ..................................................................................................9 Think Global – Act European: Key Issues Gaëtane Ricard-Nihoul, Elvire Fabry ...................................................................................................................11 part i – treaty of lisbon, democracy, budget ................................................................... 23 Treaty of Lisbon The Ratification and Implementation of the Treaty of Lisbon – What Is at Stake ? Panayiotis C. Ioakimidis – Eliamep ..................................................................................................................... 30 The Treaty of Lisbon and its Institutional Innovations Paweł Świeboda – DemosEuropa ........................................................................................................................
    [Show full text]