In my most recent article for Seeking Alpha, I discuss the Lean production system approach adopted by Ford, the future income tax rate and the current valuation levels:
Summary
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Ford has partially executed a successful turnaround based on lean production principles.
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The operating business has improved a lot and the current shareholder has an increased margin of safety.
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However, the current valuations do not indicate much upside in the most likely scenario.
You can read the whole article in Seeking alpha.
Investment Gems 
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