ford战略分析报告.ppt

Presentation to the Automotive News World Congress Stephen J. GirskyJanuary 2004 Disclosures Analyst Certification Analyst Certification The following analysts hereby certify that their views about the companies and their securities discussed in this report are accurately expressed and that they have not received and will not receive direct or indirect compensation in exchange for expressing specific recommendations or views in this report: Stephen J. Girsky. Important US Regulartory Disclosures on Subject Companies The information and opinions in this report were prepared by Morgan Stanley Co. Incorporated (“Morgan Stanley”). As of November 28, 2003, Morgan Stanley beneficially owned 1% or more of a class of common equity securities of the following companies covered in this report: Delphi, General Motors, Goodyear Tire Rubber, Johnson Controls, Magna Intl Inc., TBC and Tower Automotive. Within the last 12 months, Morgan Stanley managed or co-managed a public offering of securities of DaimlerChrysler AG, Delphi, Ford, General Motors, Standard Motor Products and Tenneco. Within the last 12 months, Morgan Stanley, Morgan Stanley or an affiliate has received compensation for investment banking services from Aftermarket Technology, American Axle and Mfg., BorgWarner Inc., DaimlerChrysler AG, Delphi, Ford, General Motors, Standard Motor Products, Superior Industries, Tenneco, Tower Automotive and Visteon Corporation. In the next 3 months, Morgan Stanley expects to receive or intends to seek compensation for investment banking services from Aftermarket Technology, American Axle and Mfg., ArvinMeritor, AutoNation, Borg Warner Inc., DaimlerChrysler AG, Dana Corp., Delphi, Ford, General Motors, Genuine Parts Co., Goodyear Tire Rubber, Johnson Controls, Lear Corp., Lithia Motors, Magna Intl Inc., Standard Motor Products, Superior Industries, Tenneco, Tower Automotive, United Auto Group and Visteon Corporation. The research analysts, strategist, or research associates