This is going to hurt, shares tanked 10% today.
When will Bill Ford and the BOD admit Farley is in over his head and cannot right this ship?
13 replies (most recent on top)
@1rgr+1iOAxQ8E - that was my first thought, however the first person I asked had just renewed within the last 4 or 5 weeks, and the second person was at least a year our from renewing. Wouldn't surprise me if it's to be on top of who has what boxes before a massive wave of retirements based on how much the lump-sump is going to be hit next year.
Looks like JF now has to make up $4.8 Billion (Cutting the original $3.0 Billion, plus losing $1.8 Billion for the 3rd quarter).
Not sure how no one could see this coming. Unfinished vehicles have been sitting in the Dearborn lots for months. I wouldn't be surprised if many of them are 2020 models.
Yea and keep letting Dearborn Purchasing, and Engineering sabotage cost estimating so no one get upset, and ford pays thru the nose.
Verify equipment is related to your equipment renewal date.
Even the Free Ford Press had to print the bad news:
Analysts react
The expected hit to Ford's third-quarter financial performance “is another gut punch to the Ford story as the Street's confidence is wearing thin on stumble after stumble,” Dan Ives, senior equity analyst at Wedbush Securities, said in an email. “While many of the inflationary factors are out of Ford's control there is a worry management does not have their arms around the situation and fears are (for) further number cuts into 2023.
Wow, those are a couple of huge red flags. Where did the verify equipment come from?
I will have to look for the SSIP email. But wow.
Get your resumes updated!
I suspect it's no coincidence that I got a "please verify your equipment" email to start the week off. I've yet to see one of those that wasn't followed by a large headcount reduction within a few months.
And then this evening got the mail from NESC saying that after Oct 7th there is a 30 day delay on SSIP distributions upon termination of employment.
2 + 2 = probably not good
Stellantis and Gm have figured it out with hiring good CEOs and management. Ford continues to disappoint with these clowns as CEOS. Stellantis double margins and very few supply chain problems.
Ford need to cut the remaining 5000 to make it up....says wallstreet
@edx+1iOAxQ8E roflmao!!!
Where is the "data and subscription" mo--n to tell us everything will be saved when the billions roll in for them?!
stock tanked over 12 freaking percent - bye bye Jim!
maybe you can sell that fancy race car you were driving on the day you cut some of the best and brightest from Ford. Bill, wake up and grow and pair and do something about the id--t you have as CEO.
Yep, keep moving engineering and purchasing to Mexico. They don't negotiate and they book whatever the suppliers quote. It is ridiculous and we internally keep seeing it happen on programs. Mgt does nothing while it's happening.
What? Our cost for the data and subscriptions we are selling went up?