After months of speculation, the Chrysler sale happened without too much fanfare on Monday morning, as Cerberus came out as the top bidder, and several potential investors came away empty-handed. One of the few groups vying for control of Chrysler was its own employees, and Automotive News is reporting that those UAW members feel they never got a real chance.
In a move that has reportedly irked some employees, Ford has had to renege on some of its buyout offers because an overwhelming number of responses were received from certain parts of the company. Since each department needs to keep some staff on hand, reports say that Ford has been forced to exercise its option of denying the buyouts to select folks. The fact so many employees were willing to leave the company certainly doesn't say much about the current level of confidence among the rank an
In an effort to assuage the fear of his employees over the current direction of Ford Motor Company, Bill Ford sent out a company-wide memo on Friday that details a three-point strategy for ushering the Blue Oval out of hard times. The Detroit News describes the strategy in a nutshell as 1) fixing Ford's North American business, 2) leveraging the company's global assets, and 3) bolstering its leadership team from within and outside the company. Easier said than done, right?