S&P 500
7,226.20
+0.01%
Dow Jones
49,494.60
-0.62%
Nasdaq 100
27,685.40
+0.66%
Russell 2000
2,804.78
-0.02%
FTSE 100
10,364.50
0.00%
Nikkei 225
59,260.50
-0.78%

Cars and Drivers

Ford (F) Runs Out Of Time

Photo of Douglas A. McIntyre
By Douglas A. McIntyre Published
Follow 24/7 Wall St. on Google
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

It is Ford’s (F) turn to talk with the UAW. Negotiations with the other two US car companies are over.

But, Ford in negotiating from a position of hunger. Its sales have been down about 20% in each of the last two months. It trades at 10% of sales. The Japanese are not letting up in North America, and GM (GM) has a line of cars and small trucks that seems to be selling.

Ford has announced plans to close 16 plants in the US, but with its market share down to 15%, that may not be enough. The company may want to set up a health care fund like the one GM (GM) did. This would cut Ford’s annual costs, but might require the company to put up $30 billion. Ford has about $48 million on its balance sheet. That does not leave much money for carrying an ongoing deficit in it North American operations.

The issues around the UAW negotiations are clouded by the fact that both sides want to set costs, set work-force levels, and set a number of plants.

If Ford cannot get flexibility on costs, it will not be around to negotiate the next contract in 2011.

Douglas A. McIntyre

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

Continue Reading

How Bad Is Ford’s European Business?
Paul Ausick |

How Bad Is Ford’s European Business?

Ford has announced plans to close some European plants and concentrate its business on the continent on commercial vehicles, passenger…
Douglas A. McIntyre |

Ford Joins The Beggars Banquet

Helping the economy should be a "priority"  for the Fed, according to the head of Ford (F), Alan Mullaly. He…
Douglas A. McIntyre |

GM (GM) And Ford (F): An Inconvenient Truth

The press and the business community clearly want large US car companies Ford (F) and GM (GM) to prevail in…
Voting Ends Friday on UAW-GM Contract Deal; Ford, Chrysler Turns Coming
Paul Ausick |

Voting Ends Friday on UAW-GM Contract Deal; Ford, Chrysler Turns Coming

GM's union 46,000 union employees on Friday will complete voting on a new contract. If the deal is approved, Ford…
Paul Ausick |

Ford F-150 Gaining Traction in Pickup Sales

Pickup truck sales in the United States rose year over year for all of the three U.S. automakers, but the…
Will UAW Strike Against GM End Sooner Rather Than Later?
Paul Ausick |

Will UAW Strike Against GM End Sooner Rather Than Later?

The United Auto Workers union has initiated a strike against General Motors. Will the work stoppage be resolved quickly or…
Douglas A. McIntyre |

Ford: Nothing Left To Cut

Mark Fields, EVP of Ford (F) was in line to become CEO. But, the job went to someone from Boeing…
Douglas A. McIntyre |

U.S. Auto Stocks Gain Investor Appeal

courtesy of Ford Motor CompanyThe value of shares in Ford Motor Co. (NYSE: F) and General Motors Co. (NYSE: GM)…
Ford’s EV Future Hit by UAW
Douglas A. McIntyre |

Ford’s EV Future Hit by UAW

The United Auto Workers (UAW) has struck one of Ford’s most profitable plants, potentially harming the company's future in electric…

Top Gaining Stocks

Cboe Global Markets
CBOE • Vol: 1,568,143
New Pluto Global
PSKY • Vol: 12,285,993
Seagate Technology
STX • Vol: 7,378,346
Oracle
ORCL • Vol: 26,317,675
Datadog
DDOG • Vol: 6,247,779

Top Losing Stocks

LKQ
LKQ • Vol: 4,367,433
Clorox
CLX • Vol: 13,260,523
Stryker
SYK • Vol: 4,519,455
Mohawk Industries
MHK • Vol: 1,859,865
Amgen
AMGN • Vol: 3,818,618