The bad news is out the cuts are being made, the dividend is cut, now the turnaround can begin. One of the biggest problems is going to get the union members to understand that they must help. All they have to do is look at the Airlines to see the writing on the wall. They must give concessions now to make sure their company gets back on track. The company has to put out some new ideas in product design, they say they will, hopefully it will be models that are well excepted. This stock has only one direction from here.
You can't count on the UAW to help Ford get out of their financial mess. Even the minor health care concessions F got from the UAW was tied up in court for 6 months while militant UAW challenged the concessions. An average $67 per/hr wages and benefits (whether they work or not) for unskilled labor don't cut it anymore in a world automotive market. The Asian transplant auto companies are making record profits and increasing market share with American workers while UAW run F and GM are near bankrupt. Why is that??? No - the UAW has learned nothing from the bankrupt Airlines and steel companies. Is it any wonder that the Asian transplants want nothing to do with the UAW.
Ford will make go economic calls for the benefit of shareholders, buyout of a bunch of employees and reduction of expenses through plant closings etc. this does resemble that which Goodyear has done in the recent past and Chrysler when Lee was there. It will be a good bounce in the weeks and months adhead for those who want to see history repeated...buy now, and go long
I believe you have it right. I see no Bankruptcy in the future, only good things will happen from here on out. I feel sorry for workers and families but they have had a gravy train for years. This is long over due.
Layoff's Hang In The Balance. And Can Anyone Blame FORD For Such Move's Now. All FORD Employee's Have To Do Is Look At The Bottom Line. Hourly Employee's Alway's Pay The Price For Bad Management Processes.