Regardless of WHO incurred the obligation, and WHEN it was incurred, it is the current management's responsibility to deal with it as they find it. Its hard for me to know if they are on strategy, or ducking and hopeful...They're making a $5B 2013 contribution to the pension fund. That's not ducking the obligation or just hoping it goes away. Is it enough? Perhpas not. We can't know. The trend is up. Contributions in 2011 were $1.1B, in 2012 $3.4B and will climb to $5B in 2013. They aren't ignoring it. They have other needs for cash, particularly capex in Asia. The unfunded gap is a concern, but it's not a concern unique to Ford. I can't see much reason to call management's quality into question.
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