So, what is Ford's plan, exactly? Nobody knows

Ford says he's going to spend $ 11 billion on a revitalization plan for his company. But there is a big problem: Ford will not say what is the plan.

To say that some Wall Street analysts were irritated would be saying it politely.

Barclays analyst Brian Johnson said he feared that Ford "does not master the operational or strategic levers of global activity".

During a conference call with Ford executives, Adam Jones of Morgan Stanley said that Ford's communications strategy was "not good enough," and accused Ford of "teasing the market with these very large numbers ". He wondered if CEO James Hackett would last in his job.

Analysts at RBC Capital, Barclays and Craig-Hallum lowered their estimates for Ford's shares.

Ouch.

Related: Ford says it's going to spend $ 11 billion to remake its business

Here's what we know: Ford said it would put aside $ 11 billion over the course of three to next five years to reshape the way he does business. Chief Financial Officer Bob Shanks said Ford will undergo a "deep redesign", making tough decisions about which companies to close and where to focus for the future.

The company gave virtually no details of the changes being contemplated, but Ford has advised in the past to develop autonomous cars, shut down underperforming plants, and abandon traditional cars in its North American lineup in favor of crossovers and SUVs.

But the clues stop about there. Ford said its future operations will generate "very strong" operating margins and "very, very strong" returns on its investments. The company said it would be a different business but "a lot stronger."

So, strong, then.

"If you think about what this business looks like, it's going to be a rocking business," Shanks said on the call with analysts.

Rockin 'strong.

The company also canceled its investor day in September, saying that she needed time to put her ducks away. Ford has argued that there are so many stakeholders to talk to, and it always identifies the areas it needs to focus on.

"As you can imagine, it's a complex thing to do," Shanks said. "So, we will not, if you will, lend a hand before we need it so that we can handle it in the most efficient and effective way possible."

Ford ( F ) Spokesperson Daniel Barbossa stated that the company would not comment beyond the statements of the executives on the conference call with the analysts.

Related: The trade war begins to hurt the American automakers

To be fair, investors are not really panicked. Ford's headline was down by just under 5% on Thursday. Ryan Brinkman, an analyst at JPMorgan, said restructuring costs are a good thing.

But Ford's problems are real. Second quarter profits were not good and the company reduced its earnings outlook due to weak sales in Europe and Asia. This is a big concern, because these places were areas of strength in the last quarter.

In the midst of a trade war, setting aside so much money is risky.

And the reduction of underperforming segments – if that is Ford's plan – could jeopardize the turnaround. Ford can widen its profit margin if it cuts the fat, but its sales would also decrease. It's hard to make a big profit when sales plummet. Just ask GE.

"Without a clear game plan, [Ford] worries us about how the case is handled," said Barclays' Johnson.

Jones Jones of Morgan said the postponement of the day of the investor is "a big problem".

Ford was not going to give satisfaction to analysts. You could hear the exasperation in Jones' voice during the conference call.

"Am I wasting time for everyone here, can you say anything else in terms of geography, function, region, or anything else tonight?"

"No" said Hackett, "We're not going beyond that tonight."

CNNMoney (New York) First published July 26, 2018: 12:01 ET