It’s no secret that the Mercury brand of cars is slowly circling the drain. They have been for a while, and despite Ford’s CEO, Alan Mullay claiming that the brand is doing well, things don’t look too bright. Driver’s Life wrote earlier on the rumor that by 2012, Mercury would be killed off in much the same way as GM did to Oldsmobile.

Why did it come to this? What should be done about it?

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According to our friends over at Left Lane News, who have sources entrenched deep within the Ford camp, Mercury could be dropped by 2012. There are almost no new products planned for the Mercury division, and let’s face it… ever since they killed the Cougar in 2001, Mercury really hasn’t had any unique or enticing products to offer the public. The funny thing is that yesterday, Ford CEO Alan Mullay said he thinks Mercury is “doing well,” and “absolutely” has a future. The company’s product map suggests otherwise.

Head over to Left Lane News for the details.

You know, maybe none of this matters anyway. The Mayan calendar does say the world will end in 2012!