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How Ford burned $12 billion in Brazil

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Reuters

By Marcelo Rochabrun SAO PAULO (Reuters) – A century ago Henry Ford came to Brazil and established the town of Fordlandia, hoping to become an Amazonian rubber baron, but retreated deep in the red. Now the automaker he founded is once again licking its Brazilian wounds, having abandoned production in the challenging market after burning through roughly 61 billion reais ($11.6 billion) in the past decade. Ford Motor Co announced the closure of its manufacturing plants in January, dealing a heavy blow to its more than 5,000 workers in the country and almost 300 dealerships. Previously unreported…

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