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Ford Loses # 2 U.S. Automaker Slot

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  #51  
Old 11-18-2008, 10:13 PM
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Re: Ford Loses # 2 U.S. Automaker

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Originally Posted by Bellicose View Post
As I did read the whole article. I do have to disagree with this A LOT! Not very profitable my arse! Whne the Prius came out you could not get one. They were sold out and put on a waiting list. You were able to buy a Prius for x amount of money then sell it to someone for a higher price. There was practicly no depreciation what so ever. They were in such high demand back then.

Also if it is not so much of a demand then why start selling them? Let alone put out more Hybrid's then any automaker? Plus if you ask me I would rather buy a Toyota Hybrid over a Ford Hybrid. Just beacuse if I am correct. Toyota's still get better gas mileage then Ford's. So when I am not on my battery I am still getting great gas mileage.
There's still a 6 month waiting list for a Prius...I'm half-way in...
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  #52  
Old 11-19-2008, 11:30 AM
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Re: Ford Loses # 2 U.S. Automaker Slot

There is a unique history to bailouts. Let me explain.

After receiving an MBA (Masters in Business Administration) from Harvard in 1970, a fellow named Henry (Hank to his friends) created the original paradigm.

Necessary side-note…

The term, paradigm (pronounced para dime) is one of those fancy-assed, snooty words used by academics and others wishing to appear academic. Normal people would refer to it as general change.

End of side-note…

Anyway, Hank bought a donkey from a farmer for $100.00. The farmer agreed to deliver the donkey the next day. The next day the farmer drove up and said, "Sorry son, but I have some bad news; the donkey died."

Henry replied, "Well, then just give me my money back."

The farmer said, "Can't do that. I went and spent it already."

Henry said, "Ok, then, just bring me the dead donkey."

The farmer asked, "What ya gonna do with him?"

Henry said, "I'm going to raffle him off."

The farmer said, "You can't raffle off a dead donkey!"

Henry said, "Sure I can. Watch me. I just won't tell anybody he's dead."

A month later, the farmer met up with Henry and asked, "What happened with that dead donkey?"

Henry said, "I raffled him off. I sold 500 tickets at two dollars apiece and made a profit of $898.00."

The farmer said, "Didn't anyone complain?"

Henry said, "Just the guy who won. So I gave him his two dollars back."

Henry’s career skyrocketed. He joined Goldman Sachs in 1974 and has climbed the ladder of success ever since.

Now, my friends, you know… the REST of the story.

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  #53  
Old 11-19-2008, 04:55 PM
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Re: Ford Loses # 2 U.S. Automaker Slot

Today I heard on the radio that Landrover dealer is willing to cut the price of Landrovers by $15,000 on all 08 models! There is too much play in the price of cars!
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Old 11-19-2008, 07:18 PM
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Re: Ford Loses # 2 U.S. Automaker Slot

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Originally Posted by paulusa302 View Post
Today I heard on the radio that Landrover dealer is willing to cut the price of Landrovers by $15,000 on all 08 models! There is too much play in the price of cars!

Let's see the model I want STARTS at 78450.00 minus 15k comes out to STARTING at 63450.00. MIght have to wait until next year when I get my big fat executive bonus or maybe the government can bail me out of my current vehicle and put me into something a little more lush.
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  #55  
Old 11-19-2008, 07:27 PM
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Re: Ford Loses # 2 U.S. Automaker Slot

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Originally Posted by Spyder08 View Post
Let's see the model I want STARTS at 78450.00 minus 15k comes out to STARTING at 63450.00. MIght have to wait until next year when I get my big fat executive bonus or maybe the government can bail me out of my current vehicle and put me into something a little more lush.
Shall I say I will have my Evo way before you get one of those. Although I do like them very much. Would make me feel very uppity. I mean really there is no other reason to spend that kind of money on a car.
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  #56  
Old 11-20-2008, 08:57 AM
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Re: Ford Loses # 2 U.S. Automaker Slot

Big Three auto CEOs flew private jets to ask for taxpayer money
  • <LI class=cnnHiliteHeader _extended="true">Story Highlights <LI _extended="true">NEW: Sen. Reid cancels Thursday's planned test vote on bailout measure
    <LI _extended="true">Lawmaker: Flying jet to hearing like going to "soup kitchen in high hat and tuxedo"
    <LI _extended="true">Rep. Brad Sherman asked CEOs whether they would fly back commercial
    <LI _extended="true">Company representatives pointed to safety, travel policies as reasons for flying jets
  • Next Article in U.S. »


By Josh Levs
CNN




(CNN) -- Some lawmakers lashed out at the CEOs of the Big Three auto companies Wednesday for flying private jets to Washington to request taxpayer bailout money.
Chrysler CEO Robert Nardelli, left, and Ford CEO Alan Mulally testify on Capitol Hill on Wednesday.





"There is a delicious irony in seeing private luxury jets flying into Washington, D.C., and people coming off of them with tin cups in their hand, saying that they're going to be trimming down and streamlining their businesses," Rep. Gary Ackerman, D-New York, told the chief executive officers of Ford, Chrysler and General Motors at a hearing of the House Financial Services Committee.
"It's almost like seeing a guy show up at the soup kitchen in high hat and tuxedo. It kind of makes you a little bit suspicious."
He added, "couldn't you all have downgraded to first class or jet-pooled or something to get here? It would have at least sent a message that you do get it."
The executives -- Alan Mulally of Ford, Robert Nardelli of Chrysler and Richard Wagoner of GM -- were seeking support for a $25 billion loan package. Later Wednesday, Senate Majority Leader Harry Reid reversed plans to hold a test vote on the measure.
An aide told CNN that Reid decided to cancel the test vote when it became clear the measure would fall well short of the 60 votes needed. Reid did, however, make a procedural move that could allow a vote on a compromise, which several senators from auto-producing states were feverishly trying to craft.
At Wednesday's hearing, Rep. Brad Sherman, D-California, pressed the private-jet issue, asking the three CEOs to "raise their hand if they flew here commercial."
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"Let the record show, no hands went up," Sherman said. "Second, I'm going to ask you to raise your hand if you are planning to sell your jet in place now and fly back commercial. Let the record show, no hands went up."
The executives did not specifically respond to those remarks. In their testimony, they said they are streamlining business operations in general. Watch Nardelli ask for help »
When contacted by CNN, the three auto companies defended the CEOs' travel as standard procedure.
Like many other major corporations, all three have policies requiring their CEOs to travel in private jets for safety reasons.
"Making a big to-do about this when issues vital to the jobs of millions of Americans are being discussed in Washington is diverting attention away from a critical debate that will determine the future health of the auto industry and the American economy," GM spokesman Tom Wilkinson said in a statement.
Chrysler spokeswoman Lori McTavish said in a statement, "while always being mindful of company costs, all business travel requires the highest standard of safety for all employees."
Ford spokeswoman Kelli Felker pointed to the company's travel policy and did not provide a statement elaborating.

Michael Moore on Bailout

He confronted GM in "Roger and Me," hear how he feels about the possible bailout.
Tonight, 9 ET on CNN


see full schedule »





But those statements did little to mollify the critics.
"If it is simply the company's money at stake, then only the shareholders can be upset or feel as it might be excessive," said Thomas Schatz, president of the watchdog group Citizens Against Government Waste.
But in this case, he said, "it's outrageous."
"They're coming to Washington to beg the taxpayers to help them. It's unseemly to be running around on a $20,000 flight versus a $500 round trip," Schatz added. iReport.com: Should the Big Three be bailed out?
The companies did not disclose how much the flights cost.
Analysts contacted by CNN noted that the prices vary with the size of the plane and the crew, and whether the aircraft is leased or owned by the company.




Analyst Richard Aboulafia of the Teal Group said that $20,000 is a legitimate ballpark figure for a round trip corporate jet flight between Detroit, Michigan, and Washington.
When asked whether they plan to change their travel policies as part of the restructuring needed to shore up their finances, none of the companies answered directly. But they said they have cut back on travel in general as revenues have fallen.
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  #57  
Old 11-20-2008, 09:12 AM
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Re: Ford Loses # 2 U.S. Automaker Slot

I got a email from Alan at greendel about that this morning....it is kinda awkward for sure...
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  #58  
Old 12-02-2008, 01:26 PM
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Re: Ford Loses # 2 U.S. Automaker Slot

Ford unveils turnaround plan

Automaker promises to sell corporate jet and cut CEO pay to $1 if it borrows from the government but offers few additional cost cutting plans.

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By Chris Isidore, CNNMoney.com senior writer
Last Updated: December 2, 2008: 11:54 AM ET


Autos in spotlight

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  • Yes, if they get a bailout
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NEW YORK (CNNMoney.com) -- Ford Motor became the first of the three U.S. automakers to unveil its turnaround plans to Congress Tuesday, but the plan contained little in the way of new cost cuts or other changes beyond what the company had previously announced.
The company announced that the salary of Ford CEO Alan Mulally would be cut to $1 a year if Ford (F, Fortune 500) actually borrowed money from the government. When Mulally appeared before the House Financial Services Committee last month, he did not agree to the suggestion of such a paycut.
A spokesman for General Motors (GM, Fortune 500) confirmed to CNN that CEO Rick Wagoner also will accept a $1 salary. Other details of GM's turnaround plan were not immediately available. Chrysler LLC CEO Robert Nardelli agreed during Congressional testimony last month he would also agree to a $1 salary in return for federal help.
Mulally had a base salary of $2 million and total compensation of $21.7 million last year, according to the company's filings. Wagoner received base pay of $1.6 million and total compensation of $14.4 million. Closely-held Chrysler does not disclose executive pay.
Ford and GM also announced plans to get rid of corporate jets. Mulally, Wagoner and Nardelli were all roundly criticized at a House hearing last month when they admitted they had each flown their corporate jets to Washington to ask for help.
Ford said it will sell its five corporate jets. GM said it plans to sell four of its seven jets and is exploring plans to transfer leases on the other three to another operator.
Mulally and Wagoner will be driving to Washington in hybrid vehicles made by their companies when they return to Capitol Hill later this week to make their case for loans.Nardelli is also not planning to fly to Washington but Chrysler has not disclosed any more specifics of his travel plans.
Executives from the Big Three automakers have been seeking $25 billion in federal loans as a result of the economic crisis and tumbling auto sales. Tuesday is deadline for the Big Three automakers to present their turnaround plans to Congress.
GM and Chrysler have argued that they could run out of cash next year if they don't get a bailout from the government. But Ford repeated its previous statement that it believes it can return to profitability without help from Congress and that it is seeking the assistance more as a backstop.
Ford plan lacks some key details
Ford said that, as a result of its turnaround plan, it believes its core North American auto operations will be breakeven or profitable in 2011 on a pre-tax basis. The company had previously set a goal of returning those operations to profitability next year but dropped that target in May without giving a new one.
Ford also said it expects industrywide sales of 12.5 million vehicles in 2009, 14.5 million vehicles in 2010 and 15.5 million vehicles in 2011. By way of comparison, U.S. auto sales averaged close to 17 million a year from 1998 through 2006.
The company made commitments to speed up the introduction of hybrid and electric vehicles, and added that it believes the consumer shift away from light trucks towards more fuel efficient vehicles is permanent.
And Ford pledged to reverse the decades-long trend of losing money on the production of small cars in the United States. The company said it would increase the production of smaller vehicles such as the Ford Focus to more than 1 million a year and reduce the complexity of the car's parts in order to reduce costs.
Still, the Ford plan is perhaps most notable for what it did not include. The company did not mention that it would be dropping any brand or unprofitable models, beyond Monday's announcement that Ford again looking at possibly selling Volvo.Ford had previously sold the Jaguar, Aston-Martin and Land Rover brands and sold a controlling interest in Mazda last month.
There was also no announcement of additional plants being closed or capacity being eliminated. Ford said it continues to work with its unions and dealers to achieve additional savings, but it did not set any cost savings targets for those discussions.
Ford highlighted many of the cuts it has already made, including closing 14 plants and reducing salaried personnel by 36% over the past three years. The company also touted labor cost savings that would bring the cost of factory workers' pay and benefits close to those of the nonunion U.S. plants operated by Asian automakers.
Ford spokesman Mike Moran said that the lack of new cost cutting plans is a reflection of the work that has been done to cut costs at Ford in recent years, especially since Mulally became CEO in 2006.
Ford shares gained more the 10% in late-morning trading Tuesday following the release of its plan.
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  #59  
Old 12-02-2008, 01:53 PM
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Re: Ford Loses # 2 U.S. Automaker Slot

Ford lost me forever as a customer. My 1988 Taurus was the most troublesome car I have ever owned. Problems started shorty after I bought it. It developed loud rapping noise on acceleration. Dealer said that was normal. Finally had to be towed in as the bolts holding crank shaft bearings broke. Dealer "fixed" the bolts. The fix only lasted a month and other bolts broke. Fixed again-but broke again shortly. The third time the dealer admitted that there was a bulletin saying a defective shipment of bolts were received and this time I got a new short block. For the rest of my ownership this car was nothing but trouble. I almost got killed on the NYS thruway when the engine stopped and all lights went out as I was traveling at 70mph in heavy traffic at night.The computer crapped out and the car went dead. A final straw was a fire in my ignition switch due to the fact that the switch contacts were not capable of carrying the electric current fom the headlights. The electric fuel pump burned out twice. And on and on. What crap Ford.
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Old 12-07-2008, 01:27 PM
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Re: Ford Loses # 2 U.S. Automaker Slot

The only thing I can say about Ford?


At least they circled the problem....
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