Michigan’s “big dogs” of the corporate world — members of the Fortune 500 — are making all the news this week.  Here’s a walk about the executive wing:

  • Ford sees break-even in 2009, delaying profit goal
    It’s hardly surprising that Ford Motor Co. must reset its goals to align with the realities of rapidly rising fuel and commodities costs.  With oil reaching a record price of $135 a barrel this week and the demand for steel also on the uptick, consumers are less likely to fork out money for a new vehicle (unless it’s going to save them a bundle of cash), nor is Ford likely to see improvement in its profit margins.  When will the next auto company announce a similar reset of production goals?  (Looks like Credit Suisse is already betting GM will be making more adjustments to sales projections, in sync with rival Ford.)

  • Platinum fund gets antitrust OK for Delphi unit
    The Federal Trade Commission gave private equity firm Platinum Equity Capital Partners LP the green light to complete its acquisition of Delphi Corp.’s steering business.  This apparently positive news follows last week’s lawsuit filed by Delphi against the Appaloosa Management-led group for breach of contract after Appaloosa pulled out of a plan to acquire Delphi Corp. and fund its emergence from bankruptcy. It’s not clear what will happen with Delphi’s non-steering businesses, which include its satellite radio, navigation and medical systems products.

  • Dow taps online social network to recruit, communicate
    Dow Chemical contracted New York-based SelectMinds to create a social networking site to help active employees, retirees, former employees and women who work at Dow stay in touch with each other.  Management views this as an opportunity to tap the knowledge base of its retirees and former employees, as well as a recruiting tool to reach potential future employees.  Who knew Dow’d grok the benefits of Facebook?  Dow’s CEO also announced this week that it expects a period of growth ahead, due in part to cyclical nature of the chemical industry as well as capital and risk restructuring through more joint ventures.

  • GE appliance business sale could drive Whirlpool’s market share higher – analyst
    That’s analyst-speak which translates into the possibility of more jobs at Whirlpool plants. Maybe. Depends on whether a potential buyer of GE’s appliance business will continue operations at existing GE sites, or if a potential buyer is a competitor that will fold GE’s appliance sales into its existing, competing lines.