NASSER, BILL FORD GET WHAT THEY WANT.(William Clay Ford Jr., Jac Nasser)

When William Clay Ford Jr. and Jac Nasser inked their first deal together, they both got what they wanted.

With the purchase of Volvo Cars, Chairman Bill Ford advances his campaign to put a socially responsible, green face on Ford Motor Co. Simultaneously, Ford president Nasser accelerates his global growth strategy by creating a trio of luxury brands with worldwide marketing clout.

Bill Ford and Nasser are spending $6.45 billion of the company's $24 billion cash horde to pursue their corporate game plan. That leaves enough in the checkbook to continue shopping.

Even as he announced the Volvo deal on day 28 of his administration, CEO Nasser held out the possibility of more acquisitions.

"It's a very good time to be expanding the business. We're very eager to look at any opportunity that makes good sense for us," he said. But, he cautioned, any potential deal has to fit Ford's culture, brand strategy and geographic needs. …