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Junkyard Gem: 1979 Lincoln Continental Mark V Bill Blass Edition

The car news in 1979 America wasn't all bad, despite gas rationing and Detroit V8s producing 25 horsepower per liter of displacement. That's because some of the plushest, flashiest, white-powder-ready luxury coupes in history were rolling off assembly lines at the time. Ford's game was strong when it came to such machinery; there were long-snouted Thunderbird Town Landaus, opulent Cougar XR-7s and — best of all — the special-edition Lincoln Continental Mark Vs. The Lincoln Division had partnered with four prestigious fashion houses to lift the Mark V to unheard-of levels of conspicuous snazz, and I found one of those cars in a Denver car graveyard. The design houses that worked their magic on these Mark Vs were Givenchy, Pucci, Cartier and Bill Blass. Each had a distinctive color scheme and mob-boss-grade interior. The Pucci cars were the rarest, with only 763 built during the 1977-1979 model years whereas 6,720 Bill Blass Mark Vs were built during that period. Today's Junkyard Gem is the second 1979 Bill Blass Mark V I've found in this very junkyard; the previous find happened back in 2015. Bill Blass was an Indiana native who began his design career as a member of the 603rd Camouflage Battalion of the United States Army during World War II, helping to deceive the Germans with a fake "Ghost Army" poised to hit the beaches far from the actual D-Day sites. Blass worked with Ford from 1975 through 1992, when the last Bill Blass Mark VIIs were built (Cartier stuck it out much longer). The 1979 Bill Blass Mark V came with "Tu-Tone Midnight Blue Metallic" and white exterior paint, while the interior was done up in white or blue leather with contrasting straps and buttons bearing the Blass logo. This one is pretty icky after 44 years, but hints of its former glory can be seen. A white padded-vinyl "carriage roof" was standard equipment on the Bill Blass Mark V. It was a $1,200 option (about $5,286 in 2023 dollars) on ordinary Mark Vs. The one on this car trapped water against the sheet metal and caused it to rust out. All 1979 Mark Vs got the Cartier clock, with calendar function. A 400-cubic-inch (6.6-liter) V8 was mandatory on all 1979 Continental models. This one made 159 horsepower and 315 pound-feet, which was grim for a coupe that scaled in at nearly 4,600 pounds. The MSRP for the '79 Bill Blass Mark V was $16,546, or about $72,880 in today's money. The Collector's Series Mark V cost even more that year: $22,029 ($97,031 after inflation).

Ford 2Q profit drops 86% as it restructures overseas

DEARBORN, Mich. (AP) — Ford's net profit tumbled 86% in the second quarter due largely to restructuring costs in Europe and South America. Net income for the April-through-June period dropped to $148 million, or 4 cents per share. Without the charges the company made 28 cents per share. Revenue was flat at $38.9 billion. On average, analysts surveyed by FactSet expected earnings 31 cents per share on revenue of $38.49 billion. Chief Financial Officer Tim Stone says the company had charges of $1.2 billion as it moved to close factories in Europe and South America. He says Ford already is seeing an impact from its global fitness measures that included a reduction of 7,000 white-collar workers. Ford, which released numbers after the markets closed Wednesday, says its results include a $181 million valuation loss on an investment in a software company, trimming 4 cents off adjusted earnings per share. Its stock fell 6.3% in after-hours trading to $9.68. Stone said Ford is in the early stages of its restructuring, but already is seeing improvement in some regions. Free cash flow also improved by 80% to $2.1 billion in the first half of the year, he said. "We're already starting to see some early benefits," he said. "A lot of work to do." The company expects improvement in the second half of the year as more new big SUVs hit dealerships and more of the restructuring takes hold. Ford on Wednesday forecast pretax adjusted earnings of $7 billion to $7.5 billion for all of 2019, compared with $7 billion last year. The company previously had only said that pretax earnings would improve. Full-year adjusted earnings per share are forecast to be $1.20 to $1.35, up from $1.30 in 2018. Previously it did not give per-share guidance. Ford's U.S. sales fell nearly 5% in the second quarter, according to the Edmunds.com auto pricing site, as the company exited most of its passenger car business. But Stone said sales of the new Ford Ranger small pickup offset much of that as its share of the small truck segment rose 14%. Edmunds, which provides content for The Associated Press, said Ford's average vehicle sale price rose 2.8% to $41,328 during the quarter. In North America, Ford's biggest profit center, pretax earnings fell 3% to just under $1.7 billion, which the company blamed on switching its Chicago factory to build new versions of midsize SUVs.

Farley reacts as UAW expands strike against Ford, GM

Members of the United Auto Worker union walk out of the Chicago Ford Assembly Plant as Lance Williams from Lansing, Ill., waves the UAW flag Friday. (AP)   As the United Auto Workers walk off the job at an additional Ford and General Motors plant, Ford CEO Jim Farley addressed investors and members of the media Friday, pleading the case for the company's latest overture to the union and addressing both public and investor concerns regarding the core issues facing American manufacturing.  Farley made a public case for Ford's efforts to resolve the dispute, expressing frustration with the ongoing stalemate and noting both the concessions Ford offered before the strike began and the signing of a contract with Canada's Unifor. Farley also acknowledged UAW President Shawn Fain's success in getting the union's message out, quipping: "Shawn has been on TV more than Jake from State Farm at this point." The first-ever simultaneous strike against the Detroit Three automakers enters its third week with threats of continued expansion, but little in the way of obvious concrete progress.  "If the UAW’s goal is a record contract, they have already achieved this," Farley said. "It is grossly irresponsible to escalate these strikes and hurt thousands of families." Farley also lamented the fact that EVs have become the subject of partisan conflict, with the company's recently announced battery production facilities taking heat from both pundits and investors as Ford was forced to press pause on the venture while negotiations continue. Former President Donald Trump dropped in to Michigan this week to declare EVs the enemy of blue-collar jobs. "They've become a political football, and that's a shame," he said. Friday saw an expansion of the UAW strike to Ford's Chicago assembly plant and GM's Lansing, Delta Township, Michigan, assembly plant, covering about 7,000 workers, Fain said in an announcement, bringing the total number of workers on the picket lines to 25,000. The strike will not include any additional members at Stellantis, where talks have reportedly been more productive. The Ford and GM plants went on strike at noon Eastern today (Friday). Ford builds the Explorer and Lincoln Aviator in Chicago. GM's Delta Township plant builds Chevy Traverse and Buick Enclave. "Despite our willingness to bargain, Ford and GM have refused to make meaningful progress," Fain said in a video address Friday morning.