Ford CEO: We Won’t Give Workers Pay Increases that Keep Us ‘from Investing in This Transition to EVs’

Breitbart ^ | 09/14/2023 | Ian hatchett

[ChicagoConservative27]

On Thursday’s broadcast of CNN’s “The Lead,” Ford President and CEO Jim Farley stated that he’s not opposed to giving workers pay increases, “But if it prevents us from investing in this transition to EVs and in future products like the ones we have now like a new F-150,” they won’t do that because they’ll go bankrupt.

While discussing the pay raises demanded by the UAW in negotiations and pay raises for CEOs, Farley said that they have offered pay raises and are open to big pay increases, but the 40% that the UAW is asking for is too much and would put the company out of business, and “There’s a fine line here that we won’t go past, which is, we want everyone to participate in our success. But if it prevents us from investing in this transition to EVs and in future products like the ones we have now like a new F-150, the best-selling vehicle in the U.S., then everyone’s job’s at risk if we don’t invest. So, there’s a line. The line isn’t for us to go bankrupt. The line is somewhere in the middle, and the only way to resolve that is to actually negotiate.”

[jonrick46]

President Joe Biden’s green agenda is a major concern for autoworkers whose jobs are being eliminated by Biden’s rapid push for a transition to electric vehicles (EVs), which require less workers to produce than gas-powered vehicles.

[DAC21]

“He’s trying to appease the politicians in the U.S. But he has a winning product. Trucks that run on ICE. If it ain’t broke, don’t fix it”

Ford is rushing to get a Hybrid F-150 to market. I think the writing is on the wall for the full EV version.

[ProtectOurFreedom]

Happy Birthday!

I’m 72, so had to laugh at “ iPhone, bad vision. Also 78th b day today!” totally understand!

[born2bfree]

Unfortunately some of us need the F350 diesels to support Kaleb in many ways.

[Hot Tabasco]

I don’t support unions but I can understand their argument when they’re dealing with a CEO whose total compensation in 2022 was $20,996,146.00

[Maris Crane]

Hey, Ford, change your CEO, we’ll buy your car.

[cymbeline]

“Desk guy says we have none as they are worthless for long drives.”

Americans likely do more long-distance driving than Chinese and other foreign-country drivers. Also, gasoline is more expensive in most foreign countries. Also, the foreign-country drivers might be buying tiny vehicles that Americans don’t want.

[bert]

Let’s see........ the lowest sticker price of any truck on a Big 3 dealer’s lot was $53 k.

$53 x 1.2= $63.6 k

The most expensive truck all accessory tricked out was $93 K

$93 x 1.2 = $111.6 K

I just don’t think so

[dfwgator]

I support this strike wholeheartedly.

[mewzilla]

Ford just got an 8 to 9 billion dollar bribe from Deep State, and can’t afford to pay its workers better...

🤣🤣🤣🤣

[mewzilla]

Ford just got twice that from Deep State.

Guess who’s laughing all the way to the bank.

[mewzilla]

I support the rank-and-file decertifying their union before it’s too late and either going without union representation or doing it themselves.

I’ve an idea...

Note to the rank-and-file: Hire Trump. Not joking. Seeing that man across the table would make Big Auto dart out for clean underwear.

[Soul of the South]

“There is no mention in the article of how much of his own compensation Farley will return to Ford in order to advance the EV dream.”

Members of Ford’s Board of Directors receive between $350,000 and $400,000 each annually for their service. According to Ford’s proxy statement the board met 7 times in 2022. Not bad pay for 7 meetings a year and reading some documents during the rest of the year.

The compensation package of Ford’s top 5 executives ranged from $8.5 to $21 million.

The upper 1% in corporate America live well. Not unlike Congress and senior bureaucrats in the federal government.

In 1970 the average annual CEO pay was 11 times the average hourly worker pay. In 2023 the average CEO pay was 399 times the average hourly worker pay.

Is this truly the invisible hand of Adam Smith’s capitalism or is it greed on steroids enabled by interlocking relationships of an exploitive elite patrician class that disdains the common man?

[newfreep]

I don’t support unions but I can understand their argument....

I despise these communist led unions - these are some of their current demands
40% pay raise
32-hr work week

[BobL]

“Unfortunately some of us need the F350 diesels to support Kaleb in many ways.”

LOL, understand and nice vehicle! Let’s all be thankful for every day Kaleb’s government goons allow us to drive what we want and need.

[hopespringseternal]

Tesla understands that all they have to do to win in the EV market is to suck less than the other options. It helps them tremendously that their cars don’t compete with a far better ICE equivalent sitting next to it on the same car lot.

[Leaning Right]

> The upper 1% in corporate America live well. Not unlike Congress and senior bureaucrats in the federal government. <

They sure do. As you noted, executive pay has skyrocketed.
As I see it, for industry to return to America, there must be:

1. Less government regulation
2. Less union greed
3. Less CEO greed

I can’t imagine even one of those three happening. So off the cliff we go.

[Chode]

nope...

[SunkenCiv]

IOW, a Biden supporter. Keep votin' Democrat, stooges!

• CNN's Tapper to Ford CEO Farley: You Have Given Yourself Huge Raises, Why Can't Workers Share in the Profits? [09/14/2023]
• UAW strikes at GM, Ford, Stellantis plants after no new contract reached (Semi Strike?) [09/15/2023]
• U.A.W. Halts Work at 3 Plants in Contract Fight With Automakers [09/15/2023]

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[octex]

It’s been widely reported that Ford loses about $50-60K on each EV it sells! This clown believes EVs are the future for Ford.