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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

Posted on 09/14/2023 4:59:13 PM PDT by 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.”

(Excerpt) Read more at breitbart.com ...


TOPICS: Business/Economy; Culture/Society; News/Current Events; Your Opinion/Questions
KEYWORDS: 4point5billion; ceo; chat; driverreturnsonfoot; ev; ford; foundonroaddead; sixtythousanddollars; uaw; unions; workers
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What logic
1 posted on 09/14/2023 4:59:13 PM PDT by ChicagoConservative27
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To: ChicagoConservative27

LOL!!!!! BOTH PARTIES ARE PSTUPID!


2 posted on 09/14/2023 5:01:05 PM PDT by Ann Archy (Abortion....... The HUMAN Sacrifice to the god of Convenience.)
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To: ChicagoConservative27

gahead, give them their 20%, and add on 20% to the price of the car, see how long average people can afford one...

feh


3 posted on 09/14/2023 5:02:06 PM PDT by Chode (there is no fall back position, there's no rally point, there is no LZ... we're on our own. #FJB)
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To: ChicagoConservative27
In all fairness, Ford CAN'T give pay raises to employees due to the fact they lose Sixty Thousand Dollars on each EV they sell.
4 posted on 09/14/2023 5:02:17 PM PDT by Responsibility2nd (A truth that’s told with bad intent, Beats all the lies you can invent ~ Wm. Blake)
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To: ChicagoConservative27

I thought the Ford EV sales were all made at a loss.


5 posted on 09/14/2023 5:02:30 PM PDT by Paladin2
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To: ChicagoConservative27

So long, good-bye, couldn’t happen to a more deserving company. Ford is going down like a dinosaur.


6 posted on 09/14/2023 5:04:55 PM PDT by Fai Mao (Starve the beast and steal its food!)
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To: Ann Archy

The point being they will need a smaller workforce.

Side note renting car In Albuquerque yesterday and said do not woman an EV. Desk guy says we have none as they are worthless for long drives.


7 posted on 09/14/2023 5:06:06 PM PDT by Mouton (US Home to one party rule)
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To: Paladin2
See post 4. Ford is set to lose 4.5 BILLION DOLLARS on EV sales this year.

Let's see if I have enough zeroes.

$4,500,000,000.00

8 posted on 09/14/2023 5:06:11 PM PDT by Responsibility2nd (A truth that’s told with bad intent, Beats all the lies you can invent ~ Wm. Blake)
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To: Responsibility2nd
They should turn their "r" in for an "l":

Fold

.
9 posted on 09/14/2023 5:08:12 PM PDT by Theophilus (It's far easier to rig a jury than an election)
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To: ChicagoConservative27

Unions are often way too greedy. No doubt about that.

But here’s the thing. In 2022 Ford President and CEO Jim Farley collected a base salary of $1.7 million, $15.1 million in stock awards, and nearly $2.8 million in bonuses.

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.

Just sayin’.


10 posted on 09/14/2023 5:08:52 PM PDT by Leaning Right (The steal is real.)
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To: ChicagoConservative27

I’d appreciate it if he would stop subsidizing the EV business with truck profits and bring truck prices down.


11 posted on 09/14/2023 5:09:49 PM PDT by born2bfree
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To: ChicagoConservative27

I brought that up today with a neighbor.

This kind of investment in such a ‘transition’ is VERY expensive.

I TRULY DO NOT like that it is being forced on American car makers.

I do NOT like EV’s being forced on the public.

BUT-—a 46% RAISE & ONLY A 3 HOUR work week????

TOTAL Insanity

I worked at American Motors in the early 60’s.

They were selling so many cars that the plant in Kenosha, Wisconsin, was working 7 days a week-—with 10 hour shifts OVERLAPPING. THEY were HUMMING!!!!!

Both my Ex & I worked there-—he was in AXLE department-—I worked in Accounts Payable...only 5 days a week...but we were very busy.

OF COURSE-—wages were much lower then than now-—benefits were sparse——and a new car cost alot less.

BUT it was a very good job.


12 posted on 09/14/2023 5:09:52 PM PDT by ridesthemiles
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To: ridesthemiles

George Romney was the President of AM then.

HE came thru the plant & offices EVERY year——talked to EVERY SINGLE EMPLOYEE—shook your hand & THANKED YOU FOR WORKING THERE.

That was the ONLY place I have worked in 66 years that it happened.

MITTENS IS NOTHING LIKE HIS DAD.


13 posted on 09/14/2023 5:13:46 PM PDT by ridesthemiles
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To: ChicagoConservative27

The logic is “The government (taxpayers) needs to kick in. The government wants us to go green, so ‘the government’ should pay for it”.

AFAIK, there is still grant money from that green new deal out there for the grab.


14 posted on 09/14/2023 5:17:24 PM PDT by monkeyshine (live and let live is dead)
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To: ridesthemiles

I saw a documentary about American Motors.

Probably would have liked it there.


15 posted on 09/14/2023 5:18:26 PM PDT by wally_bert (I cannot be sure for certain, but in my personal opinion I am certain that I am not sure..)
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To: Chode
gahead, give them their 20%, and add on 20% to the price of the car, see how long average people can afford one...

LOL. I am not defending unions but paying assembly line workers 20% more does NOT raise the sticker price 20%!!!

16 posted on 09/14/2023 5:21:32 PM PDT by central_va (I won't be reconstructed and I do not give a damn...)
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To: ridesthemiles
The "American" car makers were already making more and more of their cars outside the U.S. IMHO the transition to EV's hastens that move by forcing the car makers to do conversions of their manufacturing processes and supply chains. Since that requires a lot of building up from scratch they might as well build them up where there's cheaper labor.

That being said I'm sure they'll try to make it look like the EV's are made here, at least as far as the red tape goes, so they can meet the requirements for most of the subsidies.

17 posted on 09/14/2023 5:22:27 PM PDT by Tell It Right (1st Thessalonians 5:21 -- Put everything to the test, hold fast to that which is true.)
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To: Tell It Right
Since that requires a lot of building up from scratch they might as well build them up where there's cheaper labor.

BS. Make it here. Labor is small part of auto production compared to everything else that goes into car.

18 posted on 09/14/2023 5:24:23 PM PDT by central_va (I won't be reconstructed and I do not give a damn...)
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To: born2bfree
ford ceo: "..F-150, the best-selling vehicle in the U.S.."

Without mentioning the gas powered f-150 is the main
driver of those sales.

19 posted on 09/14/2023 5:27:11 PM PDT by chief lee runamok (Anti Socialist Flâneur@Large)
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To: central_va

it might not go up 20% all at once, but it does cost 20% more to build the same car

hell their insurance is more than the cost of the steel...


20 posted on 09/14/2023 5:30:34 PM PDT by Chode (there is no fall back position, there's no rally point, there is no LZ... we're on our own. #FJB)
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