Ford Mustangs roll through the assembly line at the company's assembly plant in Flat Rock, Michigan. (Photo by Bill Pugliano/Getty Images)
Ford Motor shook up investors Monday by cutting its forecast for pretax profit this year and next year, citing recall costs in North America and steeper losses in Russia and South America. The No. 2 U.S. automaker revealed the bad news during the first investor day it has held under the leadership of Chief Executive Mark Fields, who said he wasn't concerned about what he sees as short-term bad news ahead of what he calls "a growth story." Ford's shares sank 7.5 percent. [Full Story]
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