Word: fords
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...many years, Ford Motor Co. was considered the sickest of Detroit's car manufacturers. But conventional wisdom was stood on its head last fall when Ford parted company with General Motors Corp. and Chrysler Group LLC by forgoing federal help during the most perilous times for automakers...
...that crisis, GM and Chrysler had received a total of $64 billion, while Ford got nothing - though like other automakers, it is receiving federal aid to develop green technologies. (Read "Ford Family Values: Why the Automaker Wants to Go It Alone...
...nine months later, Ford appears to be well along on the road to recovery and in many ways is in a stronger position than its longtime rival GM. While Ford's senior executives say the company won't reach sustained profitability until 2011, the company surprised analysts by posting net income of $2.3 billion in the second quarter and followed that with healthy sales increases in July and August thanks to an assist from the federal cash-for-clunkers program. For its next sales boost, Ford is counting on a marketing blitz, which will be well in evidence...
...promising in the automobile industry. If the American car companies are to survive, some accommodation must be made between the United Auto Workers, whose eagerness to forestall cuts to retiree and current worker benefits has made it difficult for firms to keep down costs, and the Big Three automakers. Ford, to its credit, has admitted as much by negotiating a deal with the UAW in which Ford has more flexibility in paying retiree health benefits...
...What, then, does Bloom’s appointment signal? His job encompasses a broad range of industries, from the steel mills he has helped organize in his position with the United Steel Workers to the Big Three automakers—Ford, General Motors, and Chrysler—in Detroit. Bloom and Keilin have already proven that worker ownership can work—since, before the United deal, they made their reputation by advising steel workers in buying out their employers...