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Car Forum / Driving, Maintenance, Tuning / Driving / February 2007Ford, in `Meltdown,' May Seek Wage Cut, Analyst Says
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=asB0nQcKHRV8 Ford, in `Meltdown,' May Seek Wage Cut, Analyst Says (Update3) By John Lippert and Jeff Green Feb. 20 (Bloomberg) -- Ford Motor Co. is in a ``meltdown'' and may ask the United Auto Workers union to accept reduced pay and benefits during this year's contract talks, a labor economist said. Ford may seek union backing for a plan to cut wages and benefits by 20 percent, said Sean McAlinden, an analyst at the Center for Automotive Research in Ann Arbor, Michigan. That could lower costs by $1.4 billion annually for four years, McAlinden estimated. Ford Chief Executive Officer Alan Mulally on Jan. 3 said he would ask the union's help in strengthening the company. Ford, the world's third- largest automaker, lost a record $12.7 billion last year on plunging sales of pickups and sport-utility vehicles. The company's UAW contract expires Sept. 14. ``If Ford's market share falls to 10 or 12 percent by this summer, and if they start to burn cash at twice the rate they've planned, something will have to be done,'' McAlinden said at a labor-relations seminar in Ypsilanti, Michigan. ``We're really, really worried about Ford.'' Ford captured 15.2 percent of U.S. sales in January, about 10 points below its annual level a decade ago. Ford spokeswoman Marcey Evans declined to comment on the company's goals for the contract talks. UAW spokesman Roger Kerson declined to comment. (snip) IMO F always had sh.t head no vision management as we all know, aka Fix Or Repair Daily >Ford, in `Meltdown,' May Seek Wage Cut, Analyst Says (Update3) > IMO F always had sh.t head no vision management > > as we all know, aka Fix Or Repair Daily Found On Road Dead Oh Gawd the Chevy 283 with an engine compartment that you could walk around in. >> IMO F always had sh.t head no vision management >> [quoted text clipped - 4 lines] > Oh Gawd the Chevy 283 with an engine compartment that you could walk > around in. And have both heads off in an hour, and that was with hand (no air) tools. Steve Well I could jump into the 41 Plym engine compartment. The 41 Buick Roadmaster was a very tight fit. back to bad US auto management. did anyone miss AMC , Stud. , Desoto , Packard , Crosley , ... aka survival of the fittest. Or, why it is never wrong to buy the best and short the worse for the long term. Or, why the best of breed is rarely ever mentioned here in trash land except when priced way beyond real value? >Oh Gawd the Chevy 283 with an engine compartment that you could walk >around in. I miss my AMC PACER :) That was a fun car! > Well I could jump into the 41 Plym engine compartment. > The 41 Buick Roadmaster was a very tight fit. [quoted text clipped - 9 lines] >>Oh Gawd the Chevy 283 with an engine compartment that you could walk >>around in. You just might see one on a Friday evening from Spring to Fall in my town. Every Friday, a car show. I will bring my camera when I go and snap one if one ever shows up. Never know. >I miss my AMC PACER :) >That was a fun car! bright canary yellow. That was mine! > You just might see one on a Friday evening from Spring to Fall in my > town. Every Friday, a car show. I will bring my camera when I go and > snap one if one ever shows up. Never know. > >>I miss my AMC PACER :) >>That was a fun car! > bright canary yellow. That was mine! Memories....... http://www.shorey.net/Auto/American/AMC/1975%20AMC%20Pacer_2.jpg "Hugh Candlin" <sure@dream.on> said in rec.autos.driving: >> bright canary yellow. That was mine! >> >Memories....... > >http://www.shorey.net/Auto/American/AMC/1975%20AMC%20Pacer_2.jpg Holy sh.t! That's even uglier than I remember!!  SignatureI'm a wreckless driver and damn proud of it! Ladies and Gentlemen (and I use those words loosely), Lawyerkill said in rec.autos.driving: > > IMO F always had sh.t head no vision management > > > > as we all know, aka Fix Or Repair Daily > > Found On Road Dead Backward: Driver Returns On Foot SignatureN ever S eeing A nything > > IMO F always had sh.t head no vision management > [quoted text clipped - 4 lines] > Oh Gawd the Chevy 283 with an engine compartment that you could walk > around in. I owned all the classic cars, 59 Caddy, 59 Chevy, 57 Chevy, but in my days they were called Junks! First On Race Day Maybe its user error. Ive owned fords, they've always been good to me. > IMO F always had sh.t head no vision management > > as we all know, aka Fix Or Repair Daily > >>Ford, in `Meltdown,' May Seek Wage Cut, Analyst Says (Update3) betcha never owned a pre mazda 323 Ford Escort Had the hood of one blow off on the highway and almost hit us. Best POS Ford ever made. They eventually gave up and bought Mazda 323 to relabel and sell as the "new" Escort. Of course the old Toyota Tercel was as bad as the old Escort Ah, what race was that again? >First On Race Day > >Maybe its user error. Ive owned fords, they've always been good to me. no I didnt. first ford was a maverick :) Now theres a classic lemon for you:) Then hubby got a bronco, it was good but a pain w/two kids in car seats, so I traded it in on a tempo (that just YELLS mom dosnt it?), 10 years later traded the tempo in on a contour which I gave to my daughter last year when her pontiac died. Contour is now 13 years old. I bot me a sebring cause I couldnt afford the mustang convertible cash, and I didnt want a car payment..sebring was cash range, and is a nice car. > betcha never owned a pre mazda 323 Ford Escort > Had the hood of one blow off on the highway and almost hit us. [quoted text clipped - 8 lines] >> >>Maybe its user error. Ive owned fords, they've always been good to me. > no I didnt. first ford was a maverick :) Now theres a classic lemon for > you:) Mine will be 34 in a little over a month. Funny thing is people like to tell me their 'we beat the living crap out of one those and it kept going' stories about one they had. was that the one that needed at least one new ball joint every year or was that the Falcon? >no I didnt. first ford was a maverick :) Now theres a classic lemon for > was that the one that needed at least one new ball joint every year or > was that the Falcon? Um... the same basic front suspension was used on falcon,mustang,and maverick. I've only known them to need upper ball joints after ~20 years. would that be pre 70 too? I'm sure they eventually changed out the problem BJ's. Like early Chrysler disk brakes burned in the piston. on and on it goes ... >Um... the same basic front suspension was used on falcon,mustang,and >maverick. I've only known them to need upper ball joints after ~20 years. > would that be pre 70 too? I'm sure they eventually changed out the > problem BJ's. My '75 had upper ball joints replaced around 18 years old, my '73 I replaced the first one at around 23-24 years old, the second some years later. The '75 went to the great beyond with it's original lowers, the '73 still has it's original lowers. In reading mustang stuff for the last 20 years or so, I've never noted any stories of unusual ball joint failure. Old age was generally the problem and it was the original riveted in ball joints getting replaced. (the process if you don't replace the entire control arm is drilling/chiseling the rivets off and bolting in the new ball joint. Thusly it's obvious if they have been replaced before) The Falcon's I owned were pre 70. In 70 I bot a Duster that died of rust at 100K and 10yrs. The Corvair had horrid BJ's ... tiny things. The iron that made Ralph Nader rich. >My '75 had upper ball joints replaced around 18 years old, my '73 I replaced >the first one at around 23-24 years old, the second some years later. The [quoted text clipped - 7 lines] >the rivets off and bolting in the new ball joint. Thusly it's obvious if >they have been replaced before) I don't know, we see Cobras almost every Friday so must be a poor local club nearby. >and I didnt want a car payment..sebring was cash range, and is a nice car. >betcha never owned a pre mazda 323 Ford Escort I made that mistake. >Had the hood of one blow off on the highway and almost hit us. >Best POS Ford ever made. Worst car I ever bought. The maintenance bills were more than the car payments on the replacement. > http://www.bloomberg.com/apps/news?pid=newsarchive&sid=asB0nQcKHRV8 > > Ford, in `Meltdown,' May Seek Wage Cut, Analyst Says (Update3) So -- is this a good time for me to visit my local Ford dealer and buy that big, honkin' F-350 that I've had my eye on for a year? >> http://www.bloomberg.com/apps/news?pid=newsarchive&sid=asB0nQcKHRV8 >> >> Ford, in `Meltdown,' May Seek Wage Cut, Analyst Says (Update3) > > So -- is this a good time for me to visit my local Ford dealer and buy > that big, honkin' F-350 that I've had my eye on for a year? I'd get the 450. If you are going to piss off money on a piece of sh.t, you might as well go all the way. Steve >> http://www.bloomberg.com/apps/news?pid=newsarchive&sid=asB0nQcKHRV8 >> >> Ford, in `Meltdown,' May Seek Wage Cut, Analyst Says (Update3) > > So -- is this a good time for me to visit my local Ford dealer and buy that > big, honkin' F-350 that I've had my eye on for a year? Maybe not... The F-Series trucks were the biggest selling vehicle (cars AND trucks) last year by a long way. Might be a good time to get that Mustang you've always wants though... Of course, if our Democratic congress passes more EPA requirements for US automakers, then in a couple of years you'd like be looking at Honda-Ford or Toyota-Ford mergers. >> http://www.bloomberg.com/apps/news?pid=newsarchive&sid=asB0nQcKHRV8 >> Ford, in `Meltdown,' May Seek Wage Cut, Analyst Says (Update3) > So -- is this a good time for me to visit my local Ford dealer and buy > that big, honkin' F-350 that I've had my eye on for a year? Nope, definitely NOT. The dealership purchased that F-350 before the meltdown and won't be discounting it because the next F-350s coming from Ford will be more expensive (because they will be making fewer of them). If you want it buy it. The next cheaper F-350 doesn't exist.... (You might not get another chance...) "Speeders & Drunk Drivers are MURDERERS" <betaxxx@earthlink.net> said in rec.autos.driving: >Feb. 20 (Bloomberg) -- Ford Motor Co. is in a ``meltdown'' and may ask >the United Auto Workers union to accept reduced pay and benefits >during this year's contract talks, a labor economist said. >Ford Chief Executive Officer Alan Mulally on Jan. 3 said he would ask >the union's help in strengthening the company. Ford, the world's third- >largest automaker, lost a record $12.7 billion last year on plunging >sales of pickups and sport-utility vehicles. The company's UAW >contract expires Sept. 14. Here's where the UAW's stranglehold on the American automakers finally gets broken. Not only will there be drastic cuts in wages and benefits, but this nonsense about UAW workers being paid even when they are laid off is going to end. Ford simply can't afford to keep giving these freeloaders money for doing nothing. Don't laugh, GM union workers - you're next. SignatureI'm a wreckless driver and damn proud of it! scottenaztlan@yahoo.com wrote... > "Speeders & Drunk Drivers are MURDERERS" <betaxxx@earthlink.net> said > in rec.autos.driving: [quoted text clipped - 14 lines] > they are laid off is going to end. Ford simply can't afford to keep > giving these freeloaders money for doing nothing. Two words: Golden Parachute. Richard Eich <richard.eich@domain.invalid> said in rec.autos.driving: >scottenaztlan@yahoo.com wrote... >> "Speeders & Drunk Drivers are MURDERERS" <betaxxx@earthlink.net> said [quoted text clipped - 17 lines] > >Two words: Golden Parachute. What good are golden parachutes if the company that is supposed to pay them is bankrupt? SignatureI'm a wreckless driver and damn proud of it! scottenaztlan@yahoo.com wrote... > Richard Eich <richard.eich@domain.invalid> said in rec.autos.driving: > [quoted text clipped - 22 lines] > What good are golden parachutes if the company that is supposed to pay > them is bankrupt? The guys with the golden parachutes are the reason the company is bankrupt. > scottenaztlan@yahoo.com wrote... > The guys with the golden parachutes are the reason the company is > bankrupt. Yep - unions are a very destructive force. >> scottenaztlan@yahoo.com wrote... > >> The guys with the golden parachutes are the reason the company is >> bankrupt. > > Yep - unions are a very destructive force. It's the do-nothing exex who are getting the golden parachutes, butt face! > What good are golden parachutes if the company that is supposed to pay > them is bankrupt? Scott, you don't understand how this works. See, there always is money for the execs to give themselves golden parachutes. Remember, the board is generally stacked with their buddies too. Have you ever worked for a company that went belly up or was in the process of doing so? Employees with great performance who always met their goals who had good ideas denied by management and couldn't have done a better job maybe get a couple grand on their way out the door. A small percentage of their annual salary. Executives, the management that made the poor decisions that put the company where it was get hundreds of thousands to millions of dollars on their way out that is expressed in multiples of their annual salary. > "Speeders & Drunk Drivers are MURDERERS" <betaxxx@earthlink.net> said > in rec.autos.driving: [quoted text clipped - 16 lines] > > Don't laugh, GM union workers - you're next. What about the freeloading executives? Why don't you complain about them too? Like all SP500 companies, Ford has plenty of do-nothing execs that are paid millions of $ every year. Chairman Clay Ford likes to talk about how he is paid no salary but this yahoo page says he was paid $2 million in options in 05 (06 numbers not available). $2 million for driving the company into the ground!!! http://finance.yahoo.com/q/pr?s=F > > "Speeders & Drunk Drivers are MURDERERS" <betaxxx@earthlink.net> said > > in rec.autos.driving: [quoted text clipped - 25 lines] > > http://finance.yahoo.com/q/pr?s=F It's performance-related pay ;-) |
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