Information

US Economy – Imports – Ford Motor Company is Offering Buyouts

By: Nan Wood
Submitted: 2007-01-17 16:24:52
Print this article | Tell a friend | For publisher | Social Bookmarking
Rating:
 

The US Economy is clearly affected by imports. As companies struggle to find their way back to the top of their industry, imports continually rise making this process harder. This is definitely true in the automobile industry.

Many Americans find it more cost effective to purchase foreign cars. The fuel efficiency of the Asian vehicles make competition fierce. Ford’s market share has continued dropping while Japanese competitors have gained ground.

Ford is offering a buyout to all hourly employees in the United States. Sixty-five hundred workers previously have taken buyouts offered at plants that were on the closure lists.

In Ford’s restructuring plan, more plants closures are included. Ford is working hard to reduce costs to offset the pain of declining sales. The market is turning to cars from the truck and sports utility vehicles. The latter were much more profitable for the automaker.

Chris Kimmons, President of the UAW Local 919, stated “I think they worked real hard on it. I think it’s a good package. They’ve got to do something to help Ford out of this crisis.” The automaker lost $1.4 billion in the first half of this year.

The company as a while could stand to lose up to $9 billion by year end. Most of the loss would come from North American operations. While these numbers are not documented by Company spokeswoman, Beck Sanch, the actual figures are looking bleak for the automaker.

I, personally, have bought imports in recent years. I find the cost of maintaining the vehicle and fuel costs to be more in line with my budget. I have not had to return to the dealer for minor annoying repairs. I am treated with courtesy and don’t wait for hours to have my vehicle checked. I, like many other Americans, are causing pain to the American automakers. Perhaps they can increase the efficiency and quality of their product to induce us back into their sales fold.

Nan is an Accountant and Business writer with an information site for online research for SUV

Article source: Expert Articles

Most Recent Articles in Culture & Society category

  • The Traditions of Gift Giving in the Philippines - By: Timothy Spencer
    Asian cultures such as the Philippines have a deep traditions regarding gift giving. This article discusses these different traditions and gives an overview of the kinds of gifts Filipinos appreciate.
  • The Message Conveyed By Your Car's Color - By: Scott Conklin
    A look at what the color of your car says about your personality
  • World Heritage Sites in Barcelona - By: Greg Lee
    A UNESCO World Heritage Site is a specific site (such as a forest, mountain, lake, desert, monument, building, complex, or city) that has been nominated and confirmed for inclusion on the list maintained by the international World Heritage Program administered by the UNESCO World Heritage Committee, composed of 21 State Parties (countries) which are elected by the General Assembly of States Parties for a fixed term.
  • Preventing Crime from Happening to You - By: Maraya Mullen
    Do you have a wireless security camera system at your home and office? If not, maybe it's time you consider having one installed.
  • The History and Resurgence of Alibata - By: Maraya Mullen
    The recent years has seen a revival of sorts in the popularity of the alibata, the Philippines' pre-Spanish writing system. From being an ancient script mentioned only in passing in classes in Philippine History, alibata has gained enough popularity to inspire the creation of hundreds of web sites dedicated to it.
  • Pepper Spray as a Non-Lethal Self-Defense Tool - By: Ajeet Khurana
    Self defense is your right. Pepper sprays can be the ideal tool.
  • Social Clubs: Then and Now - By: Maraya Mullen
    The article describes the different changes the social club -a place we now all now to be a venue for corporate business events or throwing a club party, --has undergone.
  • Fire Safety Standards In Ireland - How Safe Are We - By: Paul Leahy
    A leading Fire Safety expert has recently queried the soundness of statutory fire safety regulations. Lack of enforcement of Fire Safety regulations exposes the consumer to the consequences of outbreaks of fire in domestic and other buildings in this country.Norman Campbell, resident of Wicklow town and Fire Safety Consultant with extensive experience in The Mainland U.
  • Behind The Scenes Of Specialized Literature - By: Julien Santini
    If like me you are highly specialized in a scholar field and if you are a regular user of auction websites, you may have already chanced upon those sellers proposing $150+ books for just a few bucks. Logically, you must have thought that those resellers are illegal, that their items are fakes, or worse, that their only business is to swindle gullible people. Wrong.
  • Employment - By: Sharon White
    Under-employment results in under-consumption combined with under-investment caused by the extremely high a rate of interest. Theoretically, it is possible to influence both these factors. Under-consumption is due in large measure to the fact that many consumers are limited in the satisfaction of their needs by too small an income, while a minority do not consume the whole of their incomes.