Morgan Stanley: Ford Likely to Announce 25,000 Job Cuts

[iheartthed]

Ford GoBike is a regional public bicycle sharing system in the San Francisco Bay Area, California. Beginning operation in August 2013 as Bay Area Bike Share, the Ford GoBike system currently has over 2,600 bicycles in 262 stations across San Francisco, East Bay and San Jose. On June 28, 2017, the system officially launched as Ford GoBike in a partnership with Ford Motor Company

https://en.wikipedia.org/wiki/Ford_GoBike

Ford is ending its sponsorship of the GoBike program:

Ford plans to "unwind" its sponsorship of a bike-sharing service in the San Francisco area, now owned by Lyft, Ford executive VP Marcy Klevorn told Axios.

Why it matters: Ford's involvement in the deal that saw Motivate's bikes branded as Ford GoBike was part of a larger effort on the company's part to transform itself into more than just a carmaker, especially as alternate transportation services have flourished and autonomous vehicles enter the equation.

​https://www.axios.com/ford-to-end-go...609000976.html

[313WX]

Layoffs at Ford have officially begin.

https://www.detroitnews.com/story/bu...ng/3152682002/

If there's any truth to what the individual below states, Ford is going to be cutting at least 30% of its salaried workforce between now and May.

https://www.thelayoff.com/t/Y2G4AyW

[313WX]

There's actually pretty interesting info on this site.

Apparently, Ford may be considering selling Ford Credit to another financial institution. Some are also speculating that Hackett was brought in to prune Ford so the family can sell it.

https://www.thelayoff.com/t/XZBqsNV

[JBMcB]

The Asians and Europeans are building plants in the U.S. while the Big Three are closing them.

The Asians and Europeans are building plants in the U.S. *with no unions* while the Big Three are closing them.. and opening plants in areas *with no unions*

[p1acebo]

The Asians and Europeans are building plants in the U.S. *with no unions* while the Big Three are closing them.. and opening plants in areas *with no unions*

Definitely a key point

[Pat001]

One of the greatest PR con jobs of all time has to be how the Big Three auto makers convinced everyone that the reason they teeter on the brink of disaster every ten years and then have to fire people, slash benefits, close plants and “re-imagine” themselves is the “cyclical” nature of the business. The real reason is simple: bad management.

[Danny]

Less demand for gas guzzlers means less money. That means loss of auto jobs. That's corporations for you. Good thing I do not work in the Automation Alley. It's nothing to me.

[Pat001]

Ford got rid of their parts plants when they created now-defunct Visteon. If Ford keeps closing plants and selling off assets like Ford Credit, soon there will be nothing left. Not long ago, Ford CEO Allan Mulally said Ford Credit was Ford Motor Company's "secret weapon." I wonder if the Ford family will take their old money and just disappear, kind of like the Stroh family disappeared after they closed the brewery.

[Smirnoff]

One of the greatest PR con jobs of all time has to be how the Big Three auto makers convinced everyone that the reason they teeter on the brink of disaster every ten years and then have to fire people, slash benefits, close plants and “re-imagine” themselves is the “cyclical” nature of the business. The real reason is simple: bad management.

In both fields; auto & football.

[Smirnoff]

Ford already got rid of their parts plants. If Ford keeps closing plants and selling off assets like Ford Credit, soon there will be nothing left. The Ford family will take their old money and just disappear, kind of like the Stroh family disappeared after they closed the brewery.

That family appears broke.....Forbes [[2014);

Eric Stroh was hit particularly hard. His first wife had to briefly loan him money to help him make ends meet. In 2009, a few months after the checks stopped for good, the overweight and diabetic Eric collapsed, alone, after letting a leg wound go untreated--most of his estate went into trusts to pay liabilities to his two former wives.

[Pat001]

That family appears broke.....Forbes [[2014);

Eric Stroh was hit particularly hard. His first wife had to briefly loan him money to help him make ends meet. In 2009, a few months after the checks stopped for good, the overweight and diabetic Eric collapsed, alone, after letting a leg wound go untreated--most of his estate went into trusts to pay liabilities to his two former wives.

When I was a kid my family toured the Stroh brewery. At the end of the tour they took everybody into a Stroh's pub where adults were served a Stroh's and potato chips. I was just a kid so all I got was chips but I remember they were the best potato chips I've ever tasted.

[archfan]

Ford got rid of their parts plants when they created now-defunct Visteon. If Ford keeps closing plants and selling off assets like Ford Credit, soon there will be nothing left. Not long ago, Ford CEO Allan Mulally said Ford Credit was Ford Motor Company's "secret weapon." I wonder if the Ford family will take their old money and just disappear, kind of like the Stroh family disappeared after they closed the brewery.

I'd better tell friends working for Visteon that their company doesn't exist!

It wouldn't surprise me if the Ford family were looking for an exit. They're at the fifth or sixth generation from Henry, and live all over. Their fortunes are tied to a company that tries to go toes up every 10 years. Some nice safe muni bonds probably look pretty attractive.

[Pat001]

I'd better tell friends working for Visteon that their company doesn't exist!

It wouldn't surprise me if the Ford family were looking for an exit. They're at the fifth or sixth generation from Henry, and live all over. Their fortunes are tied to a company that tries to go toes up every 10 years. Some nice safe muni bonds probably look pretty attractive.

I stand corrected! My father owned Ford stock and received shares Visteon stock when Ford created Visteon in 2000. The original Visteon filed Chapter 11 in 2009 and his stock became worthless.

[313WX]

I'd better tell friends working for Visteon that their company doesn't exist!

It wouldn't surprise me if the Ford family were looking for an exit. They're at the fifth or sixth generation from Henry, and live all over. Their fortunes are tied to a company that tries to go toes up every 10 years. Some nice safe muni bonds probably look pretty attractive.

The irony there is it always seems to "go toes up" because of their mismanagement. With all due respect to Mr. Hackett, the fact that they hired the CEO of a furniture business to run the company says it all.

Same thing with Opel. GM couldnt get it right for 20 years, and yet as soon as PSA Groupe takes it over [[*including* GM's legacy costs), they almost immediately turn a profit.