Well not quite yet, but the CEO has been fired by Oboe himself.
No word yet as to who will be appointed to replace the departing Mr. Wagoner, but hopefully it will be someone with his taxes up to date, and no more than one or two outstanding warrants. Loyalty to the president a must. No actual knowledge of running a company required.
This bodes ill for Ford, who has taken no money from the government, and is still independent. A government-owned company has no need to show a profit as long as the grateful taxpayers pick up the losses. A for-profit company cannot compete with an outfit that can price its product as low as necessary to move its inventory.
This is an old story, best read in English History (recent) with regards to BSA motorcycles and British Leyland automobiles. In both cases the government bought up and nationalized the weakest company in the industry, and allowed it to drive its competition to bankruptcy until most of the industry operated under only two logos, British Leyland for the cars, and BSA-Norton-Villiers-Triumph-Cotton and probably a couple more at the end.