The Saline plant, now in a holding company set up by Ford for plants it is preparing to sell, received a promise of additional work in the latest contract changes.
They are against the contract go ahead and close it and sell it. They have spoken.
In hind sight , Ford should of filed too ....Ford played by the rules and now the union will not go along with the Govt motors....thats what will happen to health insurance too...and then the new heath czar can ban smoking, force us to take pills and finally take total control of us like the sheep we are.
I can throw up.
This could finish Ford. The company has negative net worth of $10 billion.
How can it handle a labor contract that is not competitive with GM or Chrysler? Let alone their competitive issues with non union plants of Toyota, Honda, VW, etc?
At your broker's web site, look for S&P report on Ford. Scottrade keeps it on the main page for F, above the Reuter's report.
S&P says all the big concessions were won last spring when the contract was signed; any labor concessions now are insignificant. What matters going forward are the improvements in the product lines, they said. S&P likes what's happened, and hopes to see more product improvements.
So basically this is between Ford & the unions, has little or no effect on stockholders. A vehicle, some say, takes around 20 hrs of assembly and skilled labor (at wikipedia, check the Twin Cities Assembly write-up). Do the math. Assembly and skilled Labor is not that big a part of the car's cost. Materials, parts, marketing, transportation to the dealer, Ford overhead such as office equipment and office staff and building maintenance, dealer sales and overhead, taxes, interest on loans for production or re-tooling, etc, are the majority of the cost of a car.
One of the most efficient plants laborwise is getting canned because their vehicle (the Ranger) becam unpopular and their 80-year old plant is out-of-date. Is that the workers' choice or management's? Read-up on Twin Cities Assembly.
JB, Shaggy's mom