Word: fording
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Dates: during 2000-2009
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...particularly galling to the United Auto Workers (UAW) that, in addition to numerous rounds of layoffs and givebacks dating back two decades, the union is being cast as the enemy in the U.S. auto industry's fight to survive. "Our contracts with Chrysler, Ford and GM represent only 10% of the cost of assembling of a vehicle. But most days, it seems like we get 110% of the attention," said UAW president Ron Gettelfinger in a recent speech. In the wake of GM's most recent quarter, in which the company lost $9.6 billion - $30.9 billion on the year...
...bigger challenge financially is the JLR acquisition. Analysts say Tata Motors overpaid when it bought the loss-making British brands from Ford Motor in June, 2008. Just before the deal was announced, JLR reported an annual profit for the first time since it was acquired by Ford (the U.S. carmaker bought Jaguar in 1989 and Land Rover in 2000). But in the months leading up to the completion of the deal, sales of luxury cars and SUVs tanked as the global credit crisis worsened. JLR slipped back into the red, losing $383 million in the first half...
...part, the UAW has obliged in an effort to blunt demands for even greater concessions from General Motors Corp. and Chrysler LLC, which have accepted government loans. Traditionally, the UAW has had better relations with Ford than with GM or Chrysler...
...changes agreed to with Ford are now subject to approval of the UAW membership at Ford. Such a vote, which could also cover other agreed to cuts, such as elimination of productivity bonuses and cost-of-living adjustments over the next two years, could be held as early as next week. In addition, proposed changes to the VEBA will require court approval, Gettelfinger said...
...world's most powerful leaders. (One historian has likened the society's powers to that of an "international mafia," for as another writer put it, "the mafia is, after all, the most secret of societies.") Bonesmen have, at one time, controlled the fortunes of the Carnegie, Rockefeller and Ford families, as well as posts in the Central Intelligance Agency, the American Psychological Association, the Council on Foreign Relations and some of the most powerful law firms in the world...