Ford loses $284 million, predicts plant closings
DEARBORN, Mich. (AP) — Ford Motor (F) reported a third-quarter loss of $284 million Thursday, dragged down by its North American division where it lost more than $1 billion, and said it is developing a restructuring plan that will include "significant" U.S. plant closings and staff reductions.
Ford Chairman and CEO Bill Ford said the automaker will announce the restructuring plan in January. He said the plan is painful but essential and would affect salaried workers and hourly workers represented by the United Auto Workers.
"This is not a sacrifice we will ask only the UAW and its members to share. There will be sacrifices throughout the company, top to bottom," Ford said in a conference call with investors and media. "Our industry is beginning a dramatic restructuring which is sorely needed. While the challenges are great, so are the opportunities."
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http://www.usatoday.com/money/companies/earnings/2005-10-20-ford_x.htm?csp=24
other cars, better cars?
UAW warkers make too much and have way tooooo many benefits and its hurting the big three.
Fighting the union is going to be a tooth and nail struggle for them all.
How did they lose so much money? Was it the employee pricing sale?
Rob
Sold 2/2/05
nope it was those STUPID A$$ "RIDE IT LIKE A FORD" commercials
How many steps to heaven, Doc?
...Ah, metaphysics.
i thought it was the ford tough commercials
to many customers died from rattler bites
other cars, better cars?
