Utah, we have a problem. That's the conclusion of a report from the publication Nature saying that methane leaks from US natural gas fields may be anywhere from two to three times as large as previously estimated.
In all of recorded employment history, it has never been a good thing when the boss "requests" that employees talk up the company, especially when non-employees know that those workers are operating under orders. Nevertheless, that is exactly the road Ford appears to have taken as part of the "Way Forward," asking each employee to become a "walking advertisement" for the blue oval.
In a filing with the Securities and Exchange Commission that surfaced yesterday, Ford estimated that it the accelerated restructuring plan announced last September will cost $11.2 billion when the books are finally balanced. In other words, it will cost Ford$11.2 billion to let go of 38,000 hourly and 10,000 salaried workers. The estimate includes ongoing costs for health care for any workers that didn't take the lump-sum buyout. Who knew it was that expensive to reduce your workforce?
Right now the thing Ford needs more than anything else is competitive product. They're doing everything they can to get those products to market, but it takes time. They can't tell us what the product is because it would further-deteriorate their competitive position, so we just have to wait and see if they're worth buying. Other aspects of recovery that Ford can work on more immediately include very important items like improving quality, lowering warranty costs, finding ways to cut materials c
The downside to hiring a 61-year-old CEO is that as soon as he finds the executive washroom, it's time to start planning the retirement party. Ford's new CEO Alan Mulally looks young for his age, but that still doesn't change the fact that most CEOs in the auto industry call it quits in their mid-60s, with few lasting much longer according to Automotive News. If that's the case, Ford could be ready for another new CEO by the end of the decade.
Pitching Ford Motor's "Way Forward" program to the U.S. Chamber of Commerce "Competitiveness Forum" Wednesday, Ford's president of the Americas Mark Fields asked the federal government for a variety of support to "level the playing field" for domestic automakers in the U.S. market, including incentives for upgrading out-of-date factories.
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