Word: gm
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...this kind of wizardry. Cadillac, Lexus and Mercedes-Benz have made retractable hard-top models for several years. But VW's starts at just under $29,000 for the four-cylinder, 200 h.p. edition, far shy of luxury territory. The only comparable model is a Pontiac G6 convertible, though GM's machine lacks the elegance and precise handling...
Minaya isn't just a checkbook GM. He has clearly added value, following what he calls his "Montreal model": look for cheap players no one else will touch. Based on last year's stats, second baseman José Valentin and outfielder Endy Chavez should be in the bush leagues. But Minaya trusted his scouts, and each player has delivered. Valentin hit two homers in the division-clinching win over Florida...
...blame all of Ford's woes on mishaps in Dearborn. Soaring gas prices are killing two of Ford's strongest segments: pickup trucks and SUVs. And like GM, Ford pays crippling "legacy" costs for retiree benefits. David Cole, head of the Center for Automotive Research, estimates that Ford's disadvantage against foreign automakers amounts to an average of $2,500 a vehicle--money that could otherwise go into features like armrests in base models, keeping Ford competitive. "When you're constrained by that level of difference," he says, "it compromises your ability to do things...
...Companywide, Ford lost $254 million in the second quarter. Ford's market share in August, 16.8%, was the second lowest on record. Sales of pickup trucks and SUVs, Ford's only major profitable segments, have plummeted in the last year, hit by high gas prices and stiff competition from GM and Toyota. A 21% production cut is in store for the rest of the year. Any way you slice it, Ford is shrinking fast. And it may be years before the company consistently posts profits again...
...sweeping cuts in production also have sparked speculation that Ford, like GM, will offer buyouts and or early retirements to virtually all of its blue-collar workers, providing the United Auto Workers agrees, in a bid to dramatically reduce costs. Paul Krell, a spokesman for the UAW, declined to comment but privately a number of union officials acknowledge that a GM-style deal is in the works...