Ford continues to scramble...
09-15-2006, 07:45 AM
#1
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Ford continues to scramble...
To try to stay afloat...I don't like to see any company struggle, but perhaps they really didn't plan ahead?
http://www.chicagotribune.com/busine...wsbreaking-hed
http://www.chicagotribune.com/busine...wsbreaking-hed
09-15-2006, 08:12 AM
#2
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Probably closely related to the news announced yesterday that Ford expects to lose 9 billion this year;
Ford To Lose 9 Billion
Ford To Lose 9 Billion
Report: Ford Could Lose $9 Billion This Year
Thursday, September 14, 2006
NEW YORK — Ford Motor Co. (F) could post a pretax loss of $8 billion to $9 billion this year because of losses at its automotive operations and charges for restructuring, the Detroit News reported Thursday, citing unnamed Ford sources.
Automotive operations are projected to rack up pretax losses of $5.6 billion to $5.9 billion, according to a Sept. 6 internal report prepared by Chief Financial Officer Don Leclair's office, according to the report.
"We're not commenting on speculation," Ford spokesman Oscar Suris told Reuters.
Ford's board of directors was set to meet Thursday to discuss new restructuring measures.
On Sept 5, Ford named former Boeing executive Alan Mulally as chief executive, ending the troubled five-year stint of Bill Ford Jr. as the operational head of the automaker founded by his great-grandfather.
Mulally, who spearheaded the resurgence in Boeing Co.'s commercial plane division after the sharp decline that followed the attacks of September, 2001, becomes one of the first chief executives of a major automaker from outside the industry.
Thursday, September 14, 2006
NEW YORK — Ford Motor Co. (F) could post a pretax loss of $8 billion to $9 billion this year because of losses at its automotive operations and charges for restructuring, the Detroit News reported Thursday, citing unnamed Ford sources.
Automotive operations are projected to rack up pretax losses of $5.6 billion to $5.9 billion, according to a Sept. 6 internal report prepared by Chief Financial Officer Don Leclair's office, according to the report.
"We're not commenting on speculation," Ford spokesman Oscar Suris told Reuters.
Ford's board of directors was set to meet Thursday to discuss new restructuring measures.
On Sept 5, Ford named former Boeing executive Alan Mulally as chief executive, ending the troubled five-year stint of Bill Ford Jr. as the operational head of the automaker founded by his great-grandfather.
Mulally, who spearheaded the resurgence in Boeing Co.'s commercial plane division after the sharp decline that followed the attacks of September, 2001, becomes one of the first chief executives of a major automaker from outside the industry.
09-15-2006, 09:39 AM
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Probably closely related to the news announced yesterday that Ford expects to lose 9 billion this year;
Ford To Lose 9 Billion
Ford To Lose 9 Billion
What moron makes these decisions?
Let me run FORD for a year and I'll turn things around... However, there would be no more mustang, or powerstroke. Ahh the things I could do....
09-15-2006, 09:46 AM
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I don't care how large the company is; $9B annual losses are not sustainable as a long term business strategy.
Rusty
09-15-2006, 11:52 AM
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From what I heard on the news this morning on the way to class is that Ford based a lot of their selling on big trucks and suv's and not so much on small cars. Now that gas prices are going up people aren't wanting a gas guzzling SUV and ford doesn't have a lot of economy cars to choose from so it's hurting them bad there as well. Let's not even start on their diesel engines. The Mustang is probably the one car keeping ford afloat because they are selling so many of them. If the mustang was killed off then ford is done for.
09-15-2006, 12:24 PM
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Ford and Chevy have both lost touch with there costumer base in my opinion . Ford went through a very similar problem in the 80 's and did not learn from it and Chevy is just about as bad . Dodges bankruptcy back in the 80's caused many lights to come on but they have dimmed considerable since then . If they don't start fixing customer service they will be in the same boat real soon . All three are making it real easy for the imports and are running out of time to wake up . 
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09-15-2006, 02:51 PM
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Everyone is struggling, DC isn't immune
http://foxnews.smartmoney.com/bn/ind...20060915091617
http://foxnews.smartmoney.com/bn/ind...20060915091617
09-15-2006, 02:57 PM
#9
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I must agree, if these guys don't start taking care of the customers, the "other" auto manufacturers will. I have been thinking about a certified used Lexus??? My Granddad just rolled over in his grave with that comment!! We have been Chrysler people for 4 generations-not closed mined-we did try a toyota, a datsun, couple of crappy Chevies and a Ford too.
09-15-2006, 03:16 PM
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The problem is unions and overpaid workers for what they do($60 an hour including benifits for bolting on a bumper), rediculous healthcare costs, retirees heath care costs, retirement benifits, exec. bonuses, and last but not least an inferior product and nothing in the pipeline to challenge Japan's imports.
They are killing the goose that lays golden eggs.
They are killing the goose that lays golden eggs.
09-15-2006, 04:39 PM
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The problem is unions and overpaid workers for what they do($60 an hour including benifits for bolting on a bumper), rediculous healthcare costs, retirees heath care costs, retirement benifits, exec. bonuses, and last but not least an inferior product and nothing in the pipeline to challenge Japan's imports.
They are killing the goose that lays golden eggs.
They are killing the goose that lays golden eggs.
can you imagine what our trucks would be like if the workers were getting paid $30 an hour, minimum wage, ha we'd be better off on bicycles. I understand what youre saying but unions are not always that bad. If the big three would start building way more reliable trucks and not try to screw us out of our warranties maybe they wouldnt be losing so much money, just mho.
09-15-2006, 04:39 PM
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From someone who worked for Ford for many years and yes I did put on front bumpers at one time ( one every 50 seconds ) I can say for a fact you don't know what you are talking about . Your whole statement is so full of totally wrong information from pay to insurance coverage it is hard to know were to start . Management has been the problem for years , something the hourly employee has little to do with . Try doing a little home work before you insult some of the hardest working people I know . The plant I worked at employed over 7000 when I hired in and had only 3000 when I left who were still trying to produce the same amount of product with quality . We worked our butts off and earned every penny on some very over loaded jobs in our plant . Try hanging a bumper in 50 seconds level , tight and not damage it while the walking backwards on vehicles for 10 hours a day 6 days a week and maybe your IQ will go up some . The greed problem you seem to think exists is higher up the ladder not the bottom .
Have a nice day !
Have a nice day !
09-15-2006, 05:04 PM
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John I hate to say it but I am going to have to agree with gieco. The unions have gotten to fat and happy. I work on an airforce base and it is down right impossible to fire someone because of the union. they protect the crappy workers and everyone suffers. They have thier usefullness but they are lossing more jobs for the company than saving. Just look at Ford Delta all the big guys. Everyone is moving out of the country because of the union while others are coming in. Please do not insult my IQ like you did the other guy. You do not know me nor my education level. Keep things civil.
09-15-2006, 05:12 PM
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I agree with john, the problems usually start at the top (management) and trickle on down $60 an hour for a regular employee whether its right or wrong, but why didnt you mention what the higher ups make, alot more than any of us I bet. as for unions they take care of the small guy for the most part, if it weren't for unions pay would be very low jobs would be back breaking demanding and the employers pet would be the only one getting the bonuses and raises, in my opinion unions just make it fair, change should start at the top level and make their way down
