I thought it was established fact that FoMoCo was in a "company meltdown" — 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 — 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 — 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]