This will take you to the main site where there is history, technical information and other information on these cars.
This takes you back to the main page of the forums.
This is the control panel to change your password, information and preferences on this message board.
Click here if your lost your password or need to register on this message board. You must be a registered user to post. Registration is free.
Search this board for information you need.
Click here to buy cool Squarebirds mechandise.
Click here to support Squarebirds.org. For $20 annually receive 20mBytes webspace, a Squarebirds e-mail address and member's icon on the message board.
  #1  
Old 01-25-2018, 10:43 AM
RSS Robot's Avatar
RSS Robot RSS Robot is offline
The Source
 
Join Date: Jan 29 2007
Posts: 5,569
RSS Robot is on a distinguished road
Post Ford net profit disappoints: 'We have to be far fitter'

Filed under: Earnings/Financials,Ford
Ford continues on its "fitness" regimen.Continue reading Ford net profit disappoints: 'We have to be far fitter'
Ford net profit disappoints: 'We have to be far fitter' originally appeared on Autoblog on Thu, 25 Jan 2018 08:50:00 EST. Please see our terms for use of feeds.


Permalink | Email this | Comments

More...
Reply With Quote
  #2  
Old 01-25-2018, 12:50 PM
simplyconnected's Avatar
simplyconnected simplyconnected is offline
Slow Typist
 
Join Date: May 26 2009
Posts: 7,230
simplyconnected is on a distinguished road
Default

"Ford's fourth-quarter results were driven almost entirely by North America, which accounted for $1.6 billion out of $1.7 billion of pre-tax profits...

Ford said its U.S. employees represented by the United Auto Workers union would receive profit-sharing payments of $7,500 each for 2017."

Does this sound like Ford is hurting? I don't think Fiat-Chrysler or GM is sharing anywhere near this amount of profit. - Dave
__________________
My latest project:
CLICK HERE to see my custom hydraulic roller 390 FE build.

"We've got to pause and ask ourselves: How much clean air do we need?"
--Lee Iacocca
Reply With Quote
  #3  
Old 01-26-2018, 09:49 AM
Dan Leavens's Avatar
Dan Leavens Dan Leavens is offline
Moderator / Administrator
 
Join Date: Oct 4 2006
Posts: 4,663
Dan Leavens is on a distinguished road
Cool

Dave " profit sharing " is another word for incentives to appease the union and the workers.

Does this sound like Ford is hurting? I don't think Fiat-Chrysler or GM is sharing anywhere near this amount of profit. - Dave
__________________
Dano Calgary,Alberta Canada
Thunderbird Registry
58HT #33317
Reply With Quote
  #4  
Old 01-26-2018, 10:53 AM
simplyconnected's Avatar
simplyconnected simplyconnected is offline
Slow Typist
 
Join Date: May 26 2009
Posts: 7,230
simplyconnected is on a distinguished road
Default

You can look at it that way Dan, but it's also a 'contract benefit'. That means, the workers gave up something else to get it.

When they go to the table, Ford doesn't simply give up benefits for free. 'The Company' always asks, "Ok, how are we going to pay for that?" The union negotiates away some benefits for others. Sometimes the union gets stuck with the bill in a 'bad deal'.

For example, remember all those bad Firestone tires? They were made to Ford's specifications before catastrophe struck and the National Transportation Safety Board issued a recall. Who do you think paid for new tires? Franchised dealerships (non-UAW) did all the work including ordering, removal, mounting, balancing, re-assembly on the vehicle. They drilled holes in the sidewalls of the bad tires and disposed of them.

Who paid for it including labor? All that money came straight out of the worker's profit sharing money so Ford lost nothing and most folks simply assumed Ford picked up the tab. Profit sharing is based on auto sales. The UAW workers had nothing to do with faulty tires and they weren't allowed to do any of the recall work. Regardless, they paid.

Sometimes negotiators get creative like when the UAW agreed to lower wages for new hires for the first five years. Or, retirement benefits are re-negotiated. Sometimes, active workers kick in a quarter per hour to bolster the retirement fund to give retirees a $2/per day raise.

Another fund they have is the 'nickel fund' to pay for active employees to further their education. Each employee kicks in five cents per hour. This is HUGE as Ford employs 57,000 but not many work and go to school. 57,000 times 40 hrs times $0.05 = $114,000 per WEEK or $1,482,000 per semester! Ford and the UAW erected many Learning Centers with the surplus from this fund as it continues to grow.

And wouldn't you know, this money surplus also brought out the thieves who couldn't resist siphoning some for themselves:
CLICK HERE FOR, GM, Ford 'cooperating' with feds as probe into UAW training centers widens. Can't win. - Dave
__________________
My latest project:
CLICK HERE to see my custom hydraulic roller 390 FE build.

"We've got to pause and ask ourselves: How much clean air do we need?"
--Lee Iacocca
Reply With Quote
Reply


Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Forum Jump


All times are GMT -4. The time now is 08:30 PM.

Driving, racing or working on cars can be hazardous. The procedures and advice on this website including the message board are opinion only. Squarebirds.org and its webmasters and contributors do not guarantee the correctness of the advice and procedures. The Squarebirds.org and its webmasters assume no liability for any damage, fines, punishment, injury or death resulting from following these procedures or advice. If you do not have the skills or tools to repair your car, please consult a professional. By using this site you agree to hold harmless the Squarebirds.org, its authors and its webmasters from any resulting claim and costs that may occur from using the information found on this site.

Powered by vBulletin® Version 3.6.8
Copyright ©2000 - 2018, Jelsoft Enterprises Ltd.
Any submissions to this site and any post on this site becomes property of Squarebirds.org . The webmasters reserve the right to edit and modify any submissions to this site. All material on this is site is copyrighted by the Squarebirds.org. Reproduction by any means other than for personal use is strictly prohibited. Permission to use material on this site can be obtained by contacting the webmasters. Copyright 2002-2016 by Squarebirds.org.