Ford shares in Firestone recall costs
Ford Motor Co. said Thursday the Firestone tire recall should cost it $500 million as expected, not including untold costs of defending itself against and settling lawsuits over crashes involving the questioned tires. Henry Wallace, Fords chief financial officer, said the half-billion dollars the automaker figured the massive recall would cost it in lost production, among other things, has been split evenly over its past two earnings quarters. As for the litigation, thats going to go on for some time, he said. Roughly 200 lawsuits have been filed against Ford and Bridgestone/Firestone Inc. over crashes involving the tires, 6.5 million of which were recalled last summer.