Ford may dump Jaguar

Ford Motor Co. on Wednesday hired an expert in mergers and acquisitions with European expertise to evaluate strategic opportunities, such as alliances and asset sales, reportedly starting with an evaluation of whether to dump Jaguar.

Even as Ford stock rallied Wednesday on the news — and the implication that Ford was open to sweeping changes in the shape of the business — Chief Executive Officer Bill Ford told employees that the company's top priority remains fixing the North American automotive business.

"It is prudent in a time of rapid change in our industry for us to carefully examine all of our options," Ford said in a memo to employees. "In the meantime, however, all of us must continue to remain focused on doing our part to get our company on the path to sustained profitability and success." More at Detroit Free Press