OCTOBER 30, 2024
The original - and still our favorite - Autoextremist logo.
The AE Quote of the Century: Everybody loves The High-Octane Truth. Until they don't. -WG
Editor-in-Chief's Note: Introducing a new segment to our AE readers - we're calling it The Farley Follies - in honor of CEO Jim "Electric Boy" Farley and his chronic mismanagement of Ford. The newest evidence of Farley's rumblin' bumblin' and stumblin' is Ford's latest financial report, which has the company's third-quarter net income falling 26 percent. Now, this was largely attributed to Ford delaying some of its EVs - (Cue Johny Carson: "Gee, I did not know that." -WG), but it resulted in the company also lowering its full-year adjusted EBIT to “around $10 billion” after previously saying it could earn as much as $12 billion. But wait! Farley Apologist-in-Chief - CFO John Lawler - said it was all good, because the company's total adjusted earnings - before interest and taxes - rose 16 percent to $2.6 billion, with a revenue increase of 5 percent to $46 billion. Huzzah! “It’s a good proof point of our product strategy and our overall Ford+ strategy,” Lawler said on a call with reporters Oct. 28, as reported by Automotive News. “We grew the top line, we grew the bottom line, our balance sheet’s in great shape, so it was a solid quarter.” Really, John? That's all you got? Lawler went on to say that Ford has cut $2 billion in costs this year, but those reductions are being offset by inflation and higher warranty expenses. (Italics mine.) “We’ve got a great strategy, but cost is holding us back,” Lawler said. “It’s an opportunity for us to really unlock the full potential of Ford, and that’s why we’re focused on improving costs not only this focus but every quarter.” Lawler, without specifying an exact dollar amount, according to AN, said Ford’s warranty costs were slightly lower than at the same point a year earlier. That follows an $800 million year-over-year increase in the second quarter. This is Farley speak writ large. Pay no attention to that ol' bugaboo behind the curtain! Ford's abject failure to deal with its crushing warranty costs, which Farley promised to get a handle on from Day One, has permanently scarred the company, and that's directly due to Jimbo's serial incompetence. The Bottom Line for Ford? The Farley Follies continue unabated, and it is wreaking havoc on any of the good will accrued by Bill Ford and his fabulous resurrection of the Michigan Central station. And an ugly reality is looming for Bill Ford, because he has no succession plan for After Farley, which should be much sooner rather than later. I would like to point out to our readers that Jimbo "has plenty of money" as he took it upon himself to tell me repeatedly. (Yeah, he's a card-carrying Unctuous Prick, in case you were wondering.) So, there's no reason to fret about his future After Ford. He will just retreat to California and spend money like water on his vintage racing habit. In closing, in thinking about the consistently underwhelming performance by Farley, I'm reminded of the exceptional - and memorable - quote by Joe Pesci in Casino when describing an underperforming wise guy: "He could fuck-up a cup of coffee." That's an apt and painfully accurate description of Farley. -PMD Editor's Note: As if right on cue, Ford announced on Thursday (10/31) that it would idle its F-150 Lightning EV plant in mid-November for the rest of the year. How's that EV thing working out, "Electric Boy"? - WG
(Audi images)
Tonight, you're mine, completely
You give your love so sweetly
Tonight, the light of love is in your eyes
But will you love me tomorrow?
Is this a lasting treasure
Or just a moment's pleasure?
Can I believe the magic of your sighs
Will you still love me tomorrow?
Tonight, with words unspoken
You said that I'm the only one
But will my heart be broken
When the night (when the night)
Meets the morning sun?
I'd like to know that your love
Is a love I can be sure of
So tell me now and I won't ask again
Will you still love me tomorrow?
So tell me now and I won't ask again
Will you still love me tomorrow?
Will you still love me tomorrow?
Will you still love me
"Will You Love Me Tomorrow" by The Shirelles, from the album "Tonight's The Night" (1960)*. Written by Carole King and Gerry Goffin. Publisher: Sony/ATV Music Publishing LLC. Lyrics licensed and provided by LyricFind. Watch/Listen here.
King came up with the music, and Goffin, excited about writing for The Shirelles, quickly came up with the lyrics. Kirshner loved the song, and recognizing that he had something new and different, decided to use it to get in the door at Columbia Records, so he offered it to Columbia for Johnny Mathis, but their label head Mitch Miller politely declined, which Kirshner later said was "the best thing he ever did for me." Back at Aldon Music, Tony Orlando wanted to record the song, but Kirshner, taking a cue from what he learned when he offered it to Mathis, explained that it was a girl's lyric, and that no teenage boy would say these words. So finally, the song went to The Shirelles, where it was intended all along. It went to #1 in January 1961.
Don't let anyone tell you that this was the first US #1 hit by an all-female group - The McGuire Sisters hit the top spot three times in the '50s. "Will You Love Me Tomorrow" was, however, the first #1 by a black female group, and the first #1 on theBillboard Hot 100 chart, which debuted in 1958. From 1955-1958, Billboard had a chart called the Top 100 with different criteria. Shirelles lead singer Shirley Alston initially disliked the song, dismissing it as "too Country and Western" for the four-girl group from Passaic, New Jersey. Their producer Luther Dixon convinced her they could do it in their style, and asked King and Goffin if they could add strings and turned it into an up-tempo song, which they did. Carole King played timpani on the Shirelles recording.
Carole King included this on her 1971 album Tapestry. Lou Adler, who produced the album and owned King's record company, explained: "The only thing we reached back for, which was calculated in a way, which of the old Goffin and King songs that was hit should we put on this album? And, that's how we came up with 'Will You Still Love Me Tomorrow.' I thought that song fit what the other songs were saying in Tapestry. A very personal lyric." (Knowledge courtesy of Songfacts.com)
Editor's Note: You can access previous issues of AE by clicking on "Next 1 Entries" below. - WG