Ford Posts an Unexpected Profit of $997 million

The Ford Motor Company on Monday posted a surprise third-quarter profit of $997 million and said it had its first profitable quarter in North America in more than four years.

[The Authority]

Congratulations to Ford on this performance. Kudos are given when kudos are due. Also, congrats to the UAW for not signing up for concessions this past weekend when Ford was about to announce profit.

Looks like the labor situation will cool down at Ford, and they can focus on the product and manufacturing.

[Tom Loy]

The Authority wrote:

Congratulations to Ford on this performance. Kudos are given when kudos are due. Also, congrats to the UAW for not signing up for concessions this past weekend when Ford was about to announce profit.
Looks like the labor situation will cool down at Ford, and they can focus on the product and manufacturing.

Definately a good sign that ford made profits. However, if the UAW
hangs tough on negotiations, Ford will just move more jobs to mexico.

[The Authority]

Tom Loy wrote:

<quoted text>
Definately a good sign that ford made profits. However, if the UAW
hangs tough on negotiations, Ford will just move more jobs to mexico.

I don't think so, the UAW still has the strike leverage. If Ford has significant production movements then a strike could cripple their rebound.

[wonc]

Congraturations Ford Motors!!!

[stb]

Ummm this is taxpayer money. Cash for clunkers money.
The company is still a sht hole.

[Confusion reigns]

CAW Members at Ford Approve New Agreement

November 1, 2009

(Toronto) Thousands of CAW members working at Ford facilities in
Oakville, Windsor, St. Thomas and Bramalea have voted in favour of a new
agreement, ratifying the deal by 83 per cent during a series of meetings
held over the past two days. The deal was reached on October 30 between
the two sides.

"No one should mistake workers' approval as satisfaction with the new
agreement," said CAW President Ken Lewenza. "Members had faith in the
union to negotiate the best agreement possible and protect their
interests over the long term, but the problems faced by industry cannot
be resolved at the bargaining table."

We need government and policy makers to wake up to the fact that the
country's industrial base is rapidly eroding and with it, the entire
middle class."

The deal is the second cost-cutting agreement reached between the CAW
and Ford in 18 months and includes cuts to benefits, a reduction in
vacation, break times and co-pays on health care, all of which were
pattern items from the agreements with Chrysler and General Motors.

During the negotiations Ford also announced it would be closing the St.
Thomas assembly plant in 2011, eliminating 1,400 jobs in the already
hard-hit community. Workers at the plant manufacture the Ford Crown
Victoria, Mercury Grand Marquis and Lincoln Town Car.

"This has been an extremely stressful and difficult year for Ford
workers, just as it has been for hundreds of thousands of workers right
across the country," said Mike Vince, chairperson of the CAW-Ford Master
Bargaining Committee and president of CAW Local 200. "Our members have
been dealing with terrible insecurity as a result of financial crisis
and recession and this new agreement will give a greater deal of job
security right until 2012."

The new agreement expires on September 17, 2012 and covers approximately
7,000 Ford workers.

CAW Local 1285

[CAW Locals fooled]

The results by location are as follows:

CAW Local 1520, St. Thomas
Production: 80% in favour
Skilled Trades: 81% in favour
Combined total: 80% in favour

CAW Local 200, Windsor
Production: 81% in favour
Skilled Trades: 75% in favour
Combined total: 80% in favour

CAW Local 707, Oakville
Production: 90% in favour
Skilled Trades: 91% in favour
Combined total: 90% in favour

CAW Local 584, Bramalea
Total: 85% in favour

CAW Local 240
Office: 100% in favour

CAW Local 1324
Office: 83% in favour

Combined Totals:
Total Production: 84% in favour
Total Skilled Trades: 81% in favour
Total Office: 94% in favour

Overall total: 83% in favour

[Tom Loy]

The Authority wrote:

<quoted text>I don't think so, the UAW still has the strike leverage. If Ford has significant production movements then a strike could cripple their rebound.

The UAW's strike threat is quite a bit less than it used to be.
Chrysler is going bankrupt, so all the UAW jobs there are gone.
And striking a struggling automaker may push Ford into banktruptcy,
where all the UAW agreements are null and void. Ford might reorganize as non union, as toyota and honda are.

[CROWN VICTORIA]

good to see Ford post a profit

[JJFADS]

Good job Ford!

[bill]

unexpected profit! bull crap, they knew all along they were making money hand over fist, thats why they were in such a big hurry to get more concessions out of us! its called greed!

[Vance1]

Ford didnt take any liberal monies
and they are doing great.

Keep it up ford!!!!!!
I love my Mustang GT
and my co worker loves his fusion

American Profits are wonderful!!!!!!!!!!
and for all those liberal socialistic pukes
American Profits creat J O B S !!!!!!!!

[2003emm3]

Great! Their first profit in 4 years... At least they made money.

For the patriotic flag-wavers: read the fine print. First, 2/3 of the profit was from overseas operations and only 1/3 from the U.S., which means that their American operation still sucks. Second, their revenue went down by about a billion, and they managed to make the profit only by huge cost cuts and job cuts. They will need to work on their top line (i.e. grabbing more market share) if they want to survive, because cost cutting can go on for only so long.

[billy bob]

people who buy fords are brainwashed ive worked their for the last ten years and nothing has changed to improve their quailty,so i guess they were buit the best all along, im not trying to kill the golden goose, just being honest!

[Vance1]

Just another liberal american hater...Typical

[CROWN VICTORIA]

billy bob wrote:

people who buy fords are brainwashed ive worked their for the last ten years and nothing has changed to improve their quailty,so i guess they were buit the best all along, im not trying to kill the golden goose, just being honest!

dont you mean at the Toyota plant?

[JJFADS]

Ford = profit
Toyota = another loss