Thread regarding Ford layoffs

If the family were to sell out, they would lose all their power and prestige that come with being a member of the Ford Family. If you know anything about the family you know that is incredibly important to them. There are many of them who aren’t involved in the company but are socialites who love flaunting their name and the influence it wields. Their last name is more important to them than their money.

There are also a lot of influential family members who work at the company as do their children. They want to have their hands in the company and be able to pass it down to their children. A sale would mean no more board seats, no more jobs and certainly no dreams of their children rising up to CEO.

Lol billy ford is apparently commenting on the boards now :-)

How Big of a man does it take to accept a 10 million dollar salary to completely pwd a company the way Hackett has done over the pat 3 years

Completely agree that Ford has squandered the past 3 year when the times were good. I can’t see any way that this is going to end other than a bankruptcy within the next 6 month if this keeps going

Hopefully the entire Ford royal family will know what it feels like to live like their workers

@1ood+148oln1c just another blind fanboy or fangirl that the upper echelon love to dance to their word. If that's how deep you think you truly are naive. I am sure all the loyal people who worked for Art Van Elslander (pillar of the community, sponsored the parade, etc.) said the exact the thing until the family sold their company down the river. Now all those people are out of a job who gave most of their adult life to that company.

This unfortunately is bigger than Bill Ford Jr. Even if he is the die-hard loyalist you claim him to be, the Ford family is large. It's not the same level of control when Henry Ford 1, 2, and even WCF Sr. were in power. He has to convince generations of recipients that he will maintain that cash flow and having this churn every ten years would be concerning and even I would question why?

The company p-ss-d away the last six years with illogical decisions, botched delivery, and poor quality. If the business was ran great with logical decisions, scoped delivery, and no sacrifice to quality we probably wouldn't need the 17bil line of credit; you can bet the blue oval has been leveraged for collateral again (makes that picture where all the employees stood to form the logo meaningless and that was only five years ago, another photo op in 2030, give me a break). Why should this company get a pass because it's family owned?

To the comment on the union and bidders, didn't consider that, and most definitely plays into who bids. Ironic that the union which Henry Ford 1 paid people to beat and shoot at is the biggest road block in the family selling (karma).

In closing i will leave this https://m.youtube.com/watch?v=i5dBZDSSky0 the hubris of the late great George Carlin. Now more relevant than ever...

@cmx+1; Hopefully this will not result in any recalls. That would be a real kick in the head.

I think the Ford family would love to wash their hands of this nightmare. I don’t think the right offer has come yet. The UAW is a big stumbling block, but negotiations are the key.

@qte+148oln1c the Lions are only owned by the lineage from WCF Sr. (Martha and to a lesser extent Bill). The Ford Motor Company on the other hand has a bunch of trust fund kiddos s—ing off that teat. Some get more than others, but it's any "legitimate" offspring of that family bloodline (like royalty).

Back in 2006 when Mulally was brought on board was because all those trust fund kiddos including WCF Sr. twisted Bill's arm and brought him back to reality that he didn't have what it took. Not even counting Corona, the company now is probably in a worse position than it was in 2006. The product was stale bread back in 2006, so no big expense like the Explorer launch to speak of. Also revenue was still flowing in 2006. Now it's ground to a halt. Leadership under Hackett is worse than Bill Ford, so the same Ford family that was scared back in 2006 are just as scared if not more in 2020. If the family cashed out now they could sustain the affluent life style for many generations to come. Why take the risk of the trust fund vanishing if the company went bankrupt and had to reorganize? It's a no brainer what anyone should do. Its a business, not a country. The Ford family owes us nothing.

For the delusional down voters wake the f up! It's a cold cruel world out there, and the rich will stop at nothing to stay rich if not get richer. Go s—le you thumb and pet your emotional support pony if you think they are benevolent to the worker. Haha.

Peace and Love, Peace and Love, Peace and Love

PBGC has our backs on the pension.

Hope history is not repeating for those recently retired who are fully invested in stocks:

One very prominent financial expert advised people to invest in 100% stock in a 1999 paper and said that they could withdraw 7.5% the first year and increase the withdrawals by the amount of inflation in all subsequent years—with, he said, very high success probabilities. Well, anyone who retired in 1999 or 2000 and took that advice would be in deep grease today. The remaining investments would be far too small to support many additional years of retirement. All because the stock market plummeted after 2000 and now, six years after very large draws, would take impossibly high returns to recover.

Isn't the UAW flat out refusing to do any work at all because other people get to work from home? Even though they chose that job, and working from home still requires work?

Any guesses on when the UAW puts the final nail in the big 3?

No hard evidence of this yet.

But in other news, F is at least trying to be part of the solution during this COVID19 crisis. Let's hope they and GM can quickly ramp up on ventilators, masks, shields, etc:

https://www.cnn.com/2020/03/24/business/ford-3m-ge-ventilators-coronavirus-duplicate-2/index.html

https://techcrunch.com/2020/03/24/ford-and-3m-ge-and-the-uaw-to-build-respirators-ventilators-and-faceshields-for-coronavirus-fight/