Word: forde
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Dates: during 1940-1949
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Young Henry Ford II, who proved himself a labor statesman in settling his own labor troubles, last week suggested a statesmanlike solution for the nation's. Before San Francisco's famed Commonwealth Club, where the late President Roosevelt first raised the oriflamme of the New Deal, the Ford Co.'s 28-year-old president went back to old principles. Said...
...overall problems of production and inflation. Only by solving the problem of price ceilings and making enough of everything to meet the current overwhelming demand can inflation be licked. But making enough things right now is absurdly unprofitable because 1) material costs have soared and 2) labor productivity at Ford's has dropped 34% in four years. As proof, he gave the public more of a peek into Ford company books than it has ever had before...
...said he, "the super deluxe Tudor [most popular Ford, which retailed at about $750 F.O.B.] represented a total manufacturing cost of $512. . . . Material costs were $304, direct labor costs were $76 and overhead amounted to $132. . . . Looking at the November, 1945 cost records [of this model], when production was comparatively low, we find that total manufacturing costs added up to $962 ... or 87% more than...
When allowances for sales and distribution, etc. were added, but with no allowance for profit, the manufacturing price reached $1041.26. Yet, he said, OPA set a wholesale price on the car of $728, a net loss to Ford...
Therefore, said Justice Rand, all 9,500 Ford employes would have to pay the basic union dues of $1 a month, whether they belonged or not. The company would have to collect the money by checkoff and turn it over to the union...