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I thought it was established fact that FoMoCo was in a "company meltdown" โ€” I mean, did we really need a labor economist like Sean McAlinden from the Center for Automotive Research to tell us that? Well, at least he provided us a meaningful set of stats telling us a 20% cut in wages and benefits at the blue collar level could lower Ford's costs by $1.4 billion per year for the next four years. I mean, that's good and all that they're going to be asking the UAW to help by making concessions โ€” but umm, didn't the company lose somewhere close to $12.7 billion last year? And I know that with the buyout packages, they'll be able to cut another decent-sized chunk out of that gargantuan red number, but how are they going to come up with the rest of the money? A bake sale? One thing's for sure โ€” when someone from an organization that's always hard for hard-up US automakers like CAR is saying Ford is FUBARMoCo, Ford is really having issues.

Ford, Amid `Meltdown,' May Ask UAW to Cut Pay, Analyst Says [Bloomberg News]

Related:
Ford's Failing Report Card: Automaker Grounded, Not Allowed Out To Play? [internal]