Friday, July 21, 2006

Ford's Turn

Now it looks like the focus on the Ford Motor Company for a while. After losing 123 Million last quarter, it is time for them to do some more serious downsizing.

(sigh)

Ford needs to cut 30,000 North American jobs by 2012.

I wonder if we can get Toyota to create 30,000 new jobs on this continent.

Unlike GM this personally concerns me a little less because my company, at the moment anyway, does no work for Ford, though we have in the past and are still on their prefered vendors list. Still it is going to be rough on those who depend on Ford.

Of course the company survival does have to come first because if it dies there will be zero (0) jobs left.

Reality really stinks sometimes.

One thing I do like about Bill Ford though. He does not let Wall Street push him around. (Also rumor has it that he has declined his salary until things pick up for Ford. Looks like he got stock instead.)

Interestingly enough, a Canadian truck driver who came to pick up Chrysler parts from us, told us that he is trying to get as many Ford shares as he can. Right now it is very low ($6.19) and will probably go lower, but when (if) the turn around comes he figures it will skyrocket. For everyone's sake I hope that he is right.

2 Comments:

Blogger Gayle said...

I hope he is right too, Shoprat. We've lost too much industry in this country already. It would be tragic to see Ford go down the tube!

10:39 PM  
Blogger Tim said...

To Washington D.C.-HELP! When will they show us some love with govt. policy that makes it easier on the domestic auto center. The "medicine" of the free market seems more like poison for Detroit.
Ford shares will go lower. The company will survive but is investing nearly $10 Billion to relocate a very large portion of its manufacturing capability to Mexico. The jobs created in Dearborn will be engineering and marketing. Our kids must go to college if they want to maintain our standard of living.
Blue collar auto workers had better start learning to speak Spanish if they don't want to go to college.

11:15 AM  

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