GM & Chrysler want more money!? What is FORD doing that they aren't?

[ColbertWatcher]

In addition to the begging for corporate welfare, they're both laying off thousands! How many people is Ford laying off?

Anyone know?

[doc03]

1. I've been asking the same question,

how is Ford doing it? Ford does have a great lineup of new vehicles but still their sales have also tanked. That CEO Nassar nearly finished them off a few years ago.

[Mugweed]

2. Dunno, but I am suspicious of all of them.

All three wanted some cash and said they'd fail if they didn't get it. When they saw the terms, Ford suddenly didn't need the cash. I suspect none of them need the money, but are using the economic collapse as a chance to restructure to an even less employee-friendly environment.

[ColbertWatcher]

9. Good point.

I think the corporations that changed their minds about the bailout after seeing the terms are feeling the heat of all this attention.

I'd really like to know how a company can make any money when 4 or 5 people must be paid in the tens of millions of dollars every year? And the share holders that must see huge increases every year?

Not to mention that the people who do the day-to-day work of the company are being laid off fired to keep the investor/CEO class in the lifestyle they've become accustomed to.

[tammywammy]

3. Ford opened up a huge line of credit back in 2006

Plus, they've been selling off lines like Land Rover and Jaguar already.


Also Ford is asking for a line of credit with the government that they could tap into.


http://www.bizjournals.com/louisville/stories/2009/01/26/daily69.html


Also here's more info on their layoffs

http://www.detnews.com/apps/pbcs.dll/article?AID=/20081203/AUTO01/812030394

Ford has closed 17 factories over the past five years and eliminated 57,000 jobs over the past three years in North America. It will close four plants by 2011 and is cutting additional salaried positions.

On Tuesday, the company revealed that it has more than halved its supply base, from 3,300 suppliers in 2004 to about 1,600 today.

[ColbertWatcher]

5. So, they did the same stuff as GM & Chrysler, just earlier? n/t

[tammywammy]

10. They had to leverage a lot of their company to get the line of credits back in 2006

Plus they ARE asking for a line of credit to tap into with the US government.

They're still cutting back, though it seems to be coming across much quieter than any GM cut back. Just yesterday Ford announced they were cutting 500 people from the regional offices.


The car industry historically has been very volatile with makes coming and going, until the last 20/30 years when it was more "stable." But look, Ford is selling off a lot of their makes.



here's another article that might help explain things better than I can.
http://www.buffalonews.com/145/story/519857.html

[ColbertWatcher]

18. I always thought the purchase of jaguar was tacky. n/t

[tammywammy]

19. Well, they had a decline in quality after Ford bought them as well.

Ford does make some nice quality vehicles though.

[ColbertWatcher]

21. I'm not saying they don't make some good cars (MUSTANG FTW!)

But Jaguar?

That doesn't say Ford to me.

That says Europe.

(Which is not to say that "Europe" is bad, it's just not Ford)

[tammywammy]

22. Oh, I totally agree!

But some on here are very sensitive if you don't think all American products are great. ;)


I'm a fan of German cars, I prefer their handling over the American vehicles I've driven (and most especially Japanese).

[tabasco]

26. You've obviously never been there.

A lot of little Fords in Europe.

[ColbertWatcher]

28. I've heard that America is the only place Ford refuses to sell fuel-efficient cars.

And you're right (sadly) I've never been to Europe. :cry:

[tammywammy]

32. A lot of that has to do with the EPA standards for vehicles

There's a limit on the number of diesels that can be sold (though the new generation of diesels like what VW has out produce less emission than a gasser). But vehicles have to meet our safety requirements, so that could easily make a difference between what's fuel efficient in Europe vs here.

[susanna]

4. Ford has done a lot of layoffs.

It started after they announced their recovery plans back in late 2006. The largest was in 2007, the second largest was last year, and they did some smaller layoffs recently as well. There are not that many more people they can afford to cut, IMHO. Ford's recovery plan was all bout restructuring to create a smaller company that was more in line with sales figures. They have gone about it more quietly, but it was definitely done.

[madokie]

6. Ford builds a better vehicle

and have been for years, heck, for ever. If you don't believe me just take note of the number of old ford vehicles you see as you are trucking around that are 20 and 30 years old and still going strong. You won't see nearly as many GM's and hardly any Chryslers. Thats what ford motor company does that made and makes a difference.

[david13]

29. No, you got the quote wrong. The quote is

Ford has a better idea. Here we say, yeah, Ford has a better idea, GET A TOYOTA!
Hah
dc

[susanna]

35. Ah, yes; lovely.

You know, I really wish there was a "whatever" valentine heart. Just saying.

ETA: I removed some semi-bad words. Because I'm nice like that.

[DeschutesRiver]

33. Our oldest Ford is a 1976

she is a bit rusty and you don't want to push her too hard. But she is still hardworking here, now in the position of "ranch" truck after dh switched out the bed for a flat bed to haul hay, water tank and a generator (first we drive them as our number one vehicle pulling and hauling vehicles, then they get X years of lighter duty, and then they retire as ranch trucks). Bought it used in the early 80s, when when we first married from some city guy who only used it on the weekends.

I don't know when this truck will quit; I will never get rid of it. And this is not the only ancient Ford we've owned; of the three truck makers, I'd still pick a Ford over the others. Our trucks don't have an easy weekend life - they are used to the max here with relatively few problems, if any.

And from another post - I have driven pretty cool small rental cars all over Europe too. The small Fords were good cars, and yes, they ought to be building those for sale here in the US. Used to tick me off that I couldn't get them here. One of the car makers makes a small diesel pickup with exceptional mileage (can't remember who), but you don't see those on the road here.

[Captain Hilts]

7. The F-150. nt

[anonymous171]

25. Pretty much. nt

[ThomWV]

27. Bingo! We have a winner.

They sold the most of the most profitable line - pick up trucks.

[ldr65]

8. Not as many idiots at Ford.

[tammywammy]

11. Yes there are

LOL!

They got rid of the Taurus for the Ford 500 cutting their sales drastically. The Taurus was their bread and butter and the 500 hasn't lived up to what the Taurus did for them.

[liberal N proud]

12. Ford originally was going to be part of the bailout

They bowed out when they realized the Obama Administration was going to have contingencies attached to the bailout.

Ford has also been undergoing their own restructuring and shedding of extra cost. They were ahead of the game.

[Still Sensible]

24. There was also the fact that if Ford didn't take any of the

money, the CEO would get a big fat 8-figure bonus, but if he took the Federal funds that bonus would have been prohibited.

[RB TexLa]

13. offensive post removed

[tammywammy]

14. GM isn't #1 Toyota has been for a couple years now

:shrug:

[RB TexLa]

15. more offensiveness removed.

[tammywammy]

16. Ahh, yes Toyota is #1 in world wide sales. n/t

[RB TexLa]

20. I know. I should have better noted what ranking I was speaking of.

Terribly sorry.

[tammywammy]

23. No biggie.

:)

[LuckyTheDog]

31. GM still #1 in the U.S. (nt)

[donco6]

17. I like my new Escape hybrid.

Very happy. Haven't bought American in quite a while.

[Captain Hilts]

34. Their version of the VW Passat, the Fusion, looks nice. nt

[LuckyTheDog]

30. Ford mortgaged the company a while back...

...before the whole world of corporate finance froze up. Hence, Ford is sitting on a pile of borrowed money.

[OmahaBlueDog]

36. They build a better vehicle

They have a very strong overseas presence

The F-series trucks were mentioned

I think Ford already started taking their bad medicine in the early part of the decade when the Bridgestone debacle hit them.

They have a simpler business model

Example

Ford/Lincoln/Mercury
Toyota/Scion/Lexus
Nissan/Infiniti

as opposed to

GMC/Chevy/Buick/Pontiac/Caddillac/Saturn

Chrysler/Dodge/Jeep (formerly Dahmler Benz Chrysler Plymouth Jeep Eagle)


Keep in mind, I have 2 Fords in the driveway, so I'm far from objective