The Disney Challenges Now Belong To Iger, Ford And Arguments For A New Trial In A Truck Overturning Case
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The issue of roof strength in rollover accidents has been the subject of much contention in the automotive industry for several decades, prompting lawsuits against many automakers, including Ford.
Ford and new trial?
Ford on Monday to present arguments for a new trial in a truck overturning case. If granted a new trial, Ford plans to provide evidence that the roofs used on these trucks were safe by design.
The lawsuit in Georgia stems from a 2014 rollover accident that killed an elderly couple driving a Ford F-250 pickup truck. Lawyers for the plaintiffs say the victims were crushed inside the truck when the roof collapsed during the incident.
In the spring of 2014, Melvin and Voncile Hill - a couple who had been married for 48 years - were driving their 2002 Ford F-250 pickup truck from their farm in Georgia when a tire burst, causing the truck to overturn.
Ford introduced a new line of heavy trucks in the late 1990s, a design that included the F-250, F-350 and F-450 Super Duty trucks, models of various displacements that are among the largest and heaviest cars.
Ford disputed Georgia's $1.7 billion verdict, saying the trucks were safe and the roof in question was stronger than the competition. The company also argued that other factors could cause injuries in the event of a violent rollover.
Ford's lawyers argued that the tire fitted to the pair's truck had the wrong load capacity, causing it to burst.
For nearly two decades, Ford has settled dozens of similar lawsuits brought by plaintiffs alleging that people were killed or seriously injured in a truck overturn that caused the roof to collapse.
A point of contention was the roof strength of older Super Duty pickup models sold by the company for roughly 17 years.
Of these lawsuits, 43 were settled in contracts where terms were largely kept secret or not made public, according to court records and plaintiffs' attorneys involved in the cases.
The lawsuits are similar in that they relate to heavy-duty trucks sold by Ford from model years 1999 to 2016 under its Super Duty line.
Ford ended the week in the red despite the company announcing some major news this week. Its F-150 Lightning EV received the prestigious MotorTrend Truck of the Year award for 2023 earlier this week. Shares have fallen to near daily lows. On the Pre-Market, stocks showed a slight increase to 12.22$
Disney: about how Iger replaced his successor
The former Disney chairman and CEO, who led the company for 15 years, stayed with the company long after Chapek took over the top job in February 2020. That Iger was unhappy with Chapek is well known.
Iger, then still under contract as executive chairman, did not move out of the office he had at Disney's headquarters in Burbank, California. He called strategic meetings with Chapek's subordinates without inviting the new CEO.
In late 2021, Mr. Iger finally left Disney after postponing his retirement four times over the years. His comeback began with a call 11 months later on November 16.
For nearly three years, Iger's chosen successor at Disney, Bob Chapek, has faced one crisis after another: a pandemic that closed theme parks and movie theaters, a bitter battle with the Florida governor, and a previously unreported board clash with his chief financial officer.
One by one, Chapek lost the support of Disney fans, studio talent, executives, employees, Wall Street, and finally the company's board of directors. B. Chapek's presentation showed a loss of $1.47 billion in Disney's streaming division.
McCarthy, Disney's chief financial officer, was fed up with Chapek's performance and leadership. McCarthy called to ask Iger if he would consider returning. He said yes. Two days later, CEO Susan Arnold offered him the job, knowing he was likely to take it. The move ended a years-long power struggle worthy of a company known as the leading storyteller in the entertainment industry.
The Disney challenges now belong to Iger.
Stocks are at their lowest level in nearly three years. In discussions with investors following Iger's return, Disney's directors of investor relations described the company's status as weak. And in the last month they will write off the year for the continuation of the downward trend.
Source: wsj.com
