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Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock

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‘I want to die broke’: Billionaire philanthropist Denny Sanford dies after giving away $4 billion

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'Dr. Doom' Nouriel Roubini says we're headed for universal basic income or 'some form of socialism' as AI revolutionizes work—He calls that optimistic

Yet another auto recall: Ford calls back 160,000 cars

By
Tom Huddleston Jr.
Tom Huddleston Jr.
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By
Tom Huddleston Jr.
Tom Huddleston Jr.
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August 15, 2014, 5:45 PM ET
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Ford Motor Company announced yet another round of recalls Friday, adding yet more numbers to the onslaught of recalls in the auto industry so far this year.

Ford (F) said Friday it is calling back almost 160,000 Focus ST hatchbacks and Escape crossovers with 2013-2014 model years due to problems with the vehicles’ wiring that could cause their engines to stall out or lose power. The company is not aware of any crashes or injuries being associated with the potential defect, which dealers will fix at no charge. Roughly 133,000 of the affected vehicles are in the U.S., while nearly 25,400 are in Canada.

This marks the 11th recall of the year for the 2013 Escape, though no single variety of Escape has been involved in all 11 recalls. Ford also recently announced a recall of another 83,250 vehicles. That recall covered a number of Ford Edge and Lincoln MKX vehicles from 2012-2014, as well as Ford Flex, Ford Taurus, Lincoln MKT and Lincoln MKS vehicles from the 2013-2014 model years.

Last month, Ford said it was recalling 101,000 cars and the company called back more than 2.1 million vehicles in multiple recalls announced throughout May.

However, those numbers pale in comparison to rival General Motor’s (GM) record streak of recalls so far this year, which have already totaled more than 29 million vehicles. GM has also faced a slew of lawsuits, regulatory investigations and congressional inquiries as a result of its delayed recall of 2.6 million vehicles with faulty ignition switches. That defect, which has been linked to at least 13 deaths, set off an internal investigation at the company and a series of subsequent recalls of other models for various problems.

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