Last night CNBC practically declared Ford Motor Co.'s turnaround near complete.
The report was called “Ford: Rebuilding an American Icon.”
Reporter Phil LeBeau opened the documentary with CEO Alan Mulally at last month's Paris auto show celebrating Ford's comeback.
I was in Paris with Mulally at that very press event — in fact it was my tape recorder that Mulally jokingly kissed in CNBC's opening shot. Mulally was in a good mood that night. But I wouldn't characterize him as ready to declare victory.
Doing so could be dangerous.
Just a few years back, some in the media wrote that General Motors Co.'s turnaround was a success. We all know how that movie ended: In 2009 GM filed for federal bankruptcy protection.
I'm not gloom-and-doom on Ford. They're doing a fine job.
I'm just cautious.