News Forum

Ford plans to secure $18 bln in financing

 
 



Go Back   News Forum > General Discussion Forums > Business
Business Forum Ford plans to secure $18 bln in financing at News Forum - Reuters - Ford Motor Co. said on Monday it plans to borrow $18 billion by pledging assets as collateral, an ...

Reply
 
LinkBack Thread Tools Display Modes
Old 11-27-2006, 12:30 PM   #1
Senior Member
 
NF Reporter's Avatar
 
Join Date: Nov 2006
Posts: 67,430
Default Ford plans to secure $18 bln in financing

Reuters - Ford Motor Co. said on Monday it plans to borrow $18 billion by pledging assets as collateral, an unprecedented requirement that highlights its worsening financial condition.



More...
NF Reporter is offline  
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
Old 11-02-2007, 03:24 AM   #2
Senior Member
 
Join Date: Aug 2007
Location: Okolona, Ky.
Posts: 26,324
Thumbs down

Not looking good for Ford workers...

Ford Is Likely to Follow Chrysler's Retreat
November 2, 2007; Ford Motor Co. and Chrysler LLC are signaling a new, more aggressive approach by the auto industry to address slowing sales and cost issues, as Detroit's Big Three face the prospect of a tough U.S. market dragging on well into next year.
Quote:
For Ford, the moves include an effort to trim 2008 budgets and spending by up to 15% in some departments, people familiar with the matter said, though it was unclear how the cuts would be implemented. Chrysler yesterday said it will eliminate shifts at five plants in the U.S. and one in Canada, resulting in the loss of 8,500 to 10,000 jobs.

Chrysler's cuts mark new flexibility under new labor contracts that allow it and General Motors Corp. to cut jobs and trim production to adjust to market shifts. Previous labor agreements made cuts difficult, leaving Detroit at a disadvantage to Asian rivals like Toyota Motor Corp.

Ford could soon earn the same flexibility, said people familiar with the matter. The Dearborn, Mich., company is close to agreeing to a framework of a new labor agreement with similar terms with the United Auto Workers union, according to people familiar with the matter, though last-minute issues could stop a deal.

Ford could get UAW concessions such as the ability to put less up-front cash into a union-run fund for retiree health care, in return for keeping open one or two plants it had intended to close, said these people.

MORE
waltky is offline  
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On


Similar Threads
Thread Thread Starter Forum Replies Last Post
Obama preserves public financing option NF Reporter Politics 0 02-07-2007 10:56 PM
Gates: Secure data remain key challenge NF Reporter Technology 0 02-07-2007 09:49 AM
Ford CEO Mulally says Jaguar not for sale NF Reporter Business 0 01-07-2007 07:49 PM
Ford CEO Mulally says Jaguar not for sale NF Reporter Business 0 01-07-2007 04:55 PM
Ford U.S. November sales down 10 percent NF Reporter Business 0 12-01-2006 01:30 PM


All times are GMT -5. The time now is 12:56 PM.


Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2017, vBulletin Solutions, Inc.

SEO by vBSEO 3.2.0 ©2008, Crawlability, Inc.