Ford in better shape after GFC: CEO

Yellow_Festiva · 19-12-2009, 09:07 AM

Don't know If this has been posted yet. Don't think so.

Quote:

Ford in better shape after GFC: CEO

19/12/2009 8:06:01 AM

The economic storm that battered the US automotive industry has forced Ford Motor Company into a better position, chief executive Alan Mulally says.

Ford has undergone an intense restructuring in recent years that has left it a leaner and more focused company.

"We're on a clear path to profitability now," chief executive Alan Mulally told reporters on Friday. "It's probably in the strongest position it's ever been in."

Mulally noted that 2009 was an intense year for the automobile industry - particularly in Detroit where Ford rivals General Motors and Chrysler declared bankruptcy after a massive government bailout - but said the prospects for 2010 are improving.

"We feel a lot more confident about the economy," Mulally said.

Ford managed to finance its restructuring without resorting to government aid and also escaped bankruptcy protection.

But it was unable to gain all of the concessions awarded to GM and Chrysler by the United Auto Workers union.

Mulally said "we're not disadvantaged" by the situation and noted that Ford had "a long history of working with the UAW between contracts".

The automaker declined to comment on news that GM will be winding down Saab after its second attempt at a sale of the Swedish mark fell through.

But chief financial officer Lewis Booth said the problems at Saab will have no impact on Ford's planned sale of its Swedish brand, Volvo.

"We're still continuing to negotiate with (Chinese automaker) Geeley (Automobile Holdings) and we're committed to selling Volvo," Booth said.

"Volvo will be sold."

http://money.ninemsn.com.au/article.aspx?id=985711

kezzer · 19-12-2009, 09:59 AM

Much better situation considering they cut the pay to most of their workers, most of them in mexico! GFC was a good excuse. Good work

**Fordman1** · 19-12-2009, 10:27 AM

Quote:

Originally Posted by kezzer

Much better situation considering they cut the pay to most of their workers, most of them in mexico! GFC was a good excuse. Good work

Ummmm No.........

Nice attempt at a troll................. but you've failed

:

There are approx 80,000 US, and only about 8,000 Mexican employees.

Ghiadude · 19-12-2009, 11:26 AM

Quote:

Originally Posted by Barraxr8

Ummmm No.........

Nice attempt at a troll................. but you've failed

:

There are approx 80,000 US, and only about 8,000 Mexican employees.

is that what people call "owned"??

phillyc · 19-12-2009, 12:24 PM

Quote:

Originally Posted by kezzer

Much better situation considering they cut the pay to most of their workers, most of them in mexico! GFC was a good excuse. Good work

Do some research before posting crap. Is it any wonder you've posted over 100 times and no-one has saw fit to give you a reputation point.

phillyc · 19-12-2009, 12:30 PM

Quote:

Originally Posted by Yellow_Festiva

Don't know If this has been posted yet. Don't think so.

http://money.ninemsn.com.au/article.aspx?id=985711

Nice find Yellow Festiva.

I particularly like this part.

Quote:

Originally Posted by alan mullaly

"We're on a clear path to profitability now," chief executive Alan Mulally told reporters on Friday. "It's probably in the strongest position it's ever been in."

Ford are getting on a real roll. There shares are now $9.86USD which are up over 4 times since the beginning of the year and 9 times higher than last November, when they hit just $1.01/share. Bet OhioXB is pretty happy!

fou_bleu · 19-12-2009, 02:35 PM

Just another day at the office for Alan Mulally! He really was and still is a god-send for Ford! Please Ford - let sensei Mulally teach a grasshopper rather than let some bozo from nowhere take his reigns!!!

I like being a Ford fan more and more everyday...

Nikked · 19-12-2009, 04:42 PM

Quote:

Originally Posted by kezzer

Much better situation considering they cut the pay to most of their workers, most of them in mexico! GFC was a good excuse. Good work

Go back under your bridge.

Watto_Cobra · 19-12-2009, 06:05 PM

Quote:

Originally Posted by Ghiadude

is that what people call "owned"??

That should read

:

I'm glad Alan Mullaly is at the reigns. Worth every cent.

**TUF_302** · 19-12-2009, 08:09 PM

Ford are really going great guns at the moment, a few years ago it was all doom and gloom, these days most of all the news posts are of something good from the land of blue!

cosmo20btt · 19-12-2009, 08:36 PM

Quote:

Originally Posted by Watto_Cobra

That should read

:

I'm glad Alan Mullaly is at the reigns. Worth every cent.

I won't be glad if he turns our falcon into a camry.
Sorry if seams a little negative as I was talking to some one today who is looking to upgrade his Falcon wgn (around 18 months from now) & I told him there is a possibility Ford might cancel the wgn, we went thought the options & it now might be the first time he buys a commodore, so Ford are you listening to the people because it would not be hard to lose what you have now.
Sorry if a bit off topic.

Ohio XB · 20-12-2009, 06:25 AM

Currently there is roughly 44,000 UAW Ford workers in the US.

There has been no overtime in the US Ford plants for over a year, with an exception or two because of the C4C program.

I am bringing home 50% less money than I was 2 years ago because of overtime elimination and my position being eliminated 2 months ago and I was moved from a skilled trade position to an assembler postition. This was a $4/hr. pay cut.

Thursday they announced new rounds of buy-outs.

I feel right now Ford is making cuts for the sake of making cuts, without fully knowing the consequences. I believe the previous cuts were wise and chosen smartly, but now they are greedy and cutting off their nose to spite their face. I have had 5 people visit me on the assembly line to tell me how much they need me back, how they are unable to make progress resolving quality issues without me, and their fear for the future quality of our vehicle......but Ford is saving $4/hr.

I hope someone actually looks at the repercussions of the latest actions and realizes what has been done.

Otherwise, yes, Ford is doing amazing, and I feel much better with Mulally at the helm.

Steve

**Fordman1** · 20-12-2009, 07:56 AM

Quote:

Originally Posted by Ohio XB

Currently there is roughly 44,000 UAW Ford workers in the US.

Steve

Thanks for the clarification Steve,

It's been quite a while since I was in the US, but it shows that there are a lot fewer UAW workers then there used to be, even 2 years ago.

I imagine there would be another 10 to 15,000 Staff and supervisory / engineering employees also.

Ohio XB · 20-12-2009, 04:28 PM

As a matter of fact I just read somewhere that there's only 41,000 UAW represented employees at Ford. It does change fast. In total, figure that is down 100,000 employees from 2001. I have been looking for a source to quote on that figure but haven't been able to find anything in 1/2 hour of searching. Maybe someone else can find how many UAW Ford employees there were in the US in 2000 and 2001? I remember seeing over 150,000 but would rather have a reliable source to quote.

I have no idea how many salaried positions there are but Ford has continued to cut them as well.

Steve