Source: The Wall Street Journal
Leaders at Ford Motor Co. will take a sizeable cut to their compensation this year, a move announced one day after the auto maker exacted new concessions from its hourly workers.
Posts Tagged ‘FoMoCo’
Ford + GM job cuts approaching 50% – Chrysler close behind…
February 14, 2009Source: Bnet Australia
When you add up all the cuts, Chrysler, Ford and GM are well on their way to cutting half their employees in North America in just over five years. That’s staggering, especially since most of those cuts have taken place in just the last two years. Read the rest of this entry ?
Mulally: “We need no money”…
January 26, 2009From CNNMoney:
NEW ORLEANS (Reuters) — Ford Motor Co has enough liquidity to fund its restructuring plan and despite the deep downturn in auto sales still sees no need to ask for government loans, chief executive Alan Mulally said Saturday. Read the rest of this entry ?
Daimler says no to Volvo
January 6, 2009Volvo and Mercedes-Benz have been known for decades as automotive safety pioneers, sharing between them the bulk of new innovations in the field. These days, however, automakers are as concerned about their financial security as they are with occupant safety. With the latter in mind, reports indicate that Mercedes parent company Daimler has decided against buying Volvo from Ford.
Image courtesy of Autoblog
Green March to U.S Congress…
November 27, 2008So the 3 respective CEO’s of the Detroit Three got in trouble after arriving to Congress in private jets. Not good for their (& their company’s) image, eh? Well Autoblog has revealed their latest plan to gain some respect back from the American public…
Ford sells 20% of Mazda shares…
November 19, 2008Well, we said it earlier, but now this rumor has become a reality. This morning (U.S time) Ford Motor Company sold off 20% of its original 33.4% shares in the Mazda Motor Corp. Follow the jump for the rest of the story…
The Big 3’s debt to be cleared?
November 7, 2008Report from The Detroit News:
WASHINGTON — House Speaker Nancy Pelosi said Wednesday that Congress is considering bailing out Detroit’s Big Three automakers.
“We may need to make a statement of confidence in our auto industry,” Pelosi told NPR this afternoon. “We’re not saving those companies, we’re saving an industry. We’re saving an industrial technological and manufacturing base… It’s about jobs in America.” Read the rest of this entry ?
Kirk Kerkorian reduces his FoMoCo shares…
October 22, 2008From the The Detroit News, 21.10.08:
FoMoCo.’s largest private shareholder – Las Vegas casino mogul Kirk Kerkorian – is cashing in his chips.
He has begun selling off his shares in the struggling Dearborn automaker at a substantial loss, according to a statement released by his Tracinda Corp. this morning.
Ford shares dropping – hits lowest ever point…
October 7, 2008Source: LeftLaneNews.com
While few companies have been spared as the stock market tanks in the United States today, Ford Motor Company’s shares seem to have been hit the hardest – so far. In early trading today, Ford’s stock hit its lowest point since the early 1980s (on an adjusted basis) – just over $3.30.
