On Friday, April 8, as many in the financial world were fixated on the second round of The Master's, Ford Motor Co. was lowering its earnings outlook for the year and pulling in the reins on the $3 billion auto ABS deal it introduced to the market the previous day.

Announced on Thursday, April 7, the series 2005-B transaction was expected to price on Friday morning, however, a source close to the deal said Ford officials held off when they found out the company's negative corporate earnings outlook was to be released later that day. Deutsche Bank Securities, JPMorgan Securities and Lehman Brothers acted as joint-lead managers on the offering.

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