https://www.freep.com/story/money/cars/ford/2020/07/29/ford-government-loan-department-energy-debt/5526413002/
Ford is in trouble, the reference to paying off one credit card with another is pretty grim.
10 replies (most recent on top)
@1qef+16biMn1W good eye. Nothing is a better measure than the number of freight trains. Grew up not too far from a freightline, in the 90s the trains ran non stop in both directions (cars haulers, box cars, chemicals, coal, steel, you name it, this line hauled it). 2008 hit and the train traffic dropped to next to nothing. I was on vacation and the location i was in has a main line that cuts through mountains. Talking to the locals, train would run every 15min pre covid. Post covid, three trains a day. The economy is a big shill, productivity is way down and no matter how Wall Street fluffs up loser companies the fact remains that industry is adding less value to raw material.
Second point, the new Explorer was a solution to not a problem. Company should of saved the money and kept the platform an E-W transverse FWD/AWD. The MSRP jumped because of all the content to go RWD (higher variable cost). Hyundai/Kia copied the old Explorer with the Telluride/Palasade and it's selling like hot cakes.
I'd say their broke.
@ Chicago there are 36 lanes in the yard. Every lane holds 150 units or cars. Whole yard was empty but one row yesterday. Lane 24. Few units in 1-6 i'd guess 15 or so but it looks the same as it did when the shutdown was going on. Not sure whats happening
The question is are they really broke or just asking for various extensions and other things as precaution to covid and banks already offering them? I know plenty of people who worked throughout this but still requested the lower payment offerings and such for various things like insurance and cell phone bills.
As we saw from SRD, it’s hard to apply any logic to who may or may not be safe if layoffs should happen.
You be safer in VO now as future launches will require man power.
About as much as they need somebody in their early 50's.
I think most if not all are safe until after Holidays. I could see 10 - 20 % SRD'd. Come Jan 1st I wouldn't want to have any big monthly payments.
@pli+16biMn1W This is what is so wrong with this country. People play by the rules, are good boys and girls, and it doesn't matter. The bad boys and girls run the show and take advantage of the ones that walk the narrow path. Go to college, go be a wage servant, get flushed down the toilet. I at least have time to pivot.
I have 7 maybe 5 years left before retirement - I really do no think the company makes it. Every one of these downturns gets worse for F.
Anyone need a late 50's engineer?