Fire at Ford (NYSE:F) Headquarters Forces Company to Delay Results

A fire broke at the Ford Motor Company (NYSE:F) headquarters in Dearborn, Michigan, United States forcing the company to evacuate 1,500 of their employees. However, no one has been reported injured in the fire. The damage too was largely limited. Ford has revenue of $149.5 billion as of 2015 and employs 199,000 workers worldwide.

The fire actually broke out at an electrical sub-station in the headquarters. It was located at the basement of the building, which is 60 years old. A spokesperson reported that the building had to be immediately shut down, and everyone in there was asked to leave quickly. They were all asked to go home.

The Dearborn Fire Department was called, and they managed to douse the flames. It was contained quickly. The fire department has decided to carry out a detailed investigation of their own to find out what caused the sudden ignition.

Quarterly Report Release Delayed Due to the Fire

Ford Motor even had to delay the release of their financial results because of the fire. It was supposed to be the sales report for the month of October. They really had no other option because many of their computer systems had to be shut down, says Ford’s spokesperson.

The company issued a written statement saying, “The fire at an electrical substation interrupted power to Ford World Headquarters and the adjacent Ford Credit office buildings, as well as to one of the company’s main data centers that the company and its dealers use to report and track sales”.

No data was lost, though, as the battery backup system and was able to protect critical business data. But the dealers could not report sales of the last day as the office was not working in full power, and there were no workers to process the reported data.

However, Ford has assured everyone that work is going to go ahead without any further disturbance. And true their word, the workers were back the next day.

Automobile Sales Are Declining

In the meantime, analysts have pointed out that the overall sales of automobile businesses are on the decline. On an average, it is expected to be down by 6 percent. The industry has reported lower figures for three straight months. The reported October 2016 figures are lower than what they were a year back.

The forecasts are negative. Combined sales of Lincoln and Ford (NYSE:F) have been predicted to be lower by 11 percent.