Ford's selling it's wholly owned company Auto Protection Co. (APCO) to a
priate equity firm. APCO offers vehicle service contracts and related
after-market products to dealers of all makes and models. Ford has been
interested in selling the unit since October.
I don't know if these are the people who do the Ford Extended Service Plan
(ESP) extended warranty (essentially an insurance plan) or that is another
division within Ford. Perhaps Mike Hunter can fill us in.
In addition, if you want to buy an Aston Martin and have lots of spare cash,
you could buy the division. Ford has the Aston Martin division for sale,
Good comeback. You should write it down!
Actually, these sales are probably a good thing for Ford. Diversity can be
good for a company. But right now, the senior managers at Ford need to worry
their core products, cars and trucks, and not selling insurance or the other
aftermarket stuff the this company they're selling does.
Unforunately, Ford needs to do a lot to get back into a healthy financial
position. This should help them on the way.
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