US Economy – Imports – Ford Motor Company is Offering Buyouts

By: Nan Wood
Submitted: 2007-01-17 16:24:52
Print this article | 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

  • A Joint a Day Keeps the Doctor Away - By: Robert Kane
    In India, Marijuana seeds sprout abundantly in the wild, and smoking pot is an entrenched part of the culture and spiritual traditions in the region. In fact, the oldest woman in the world, Fulla Nayak, lived in India and attributed her long life to her consumption of marijuana.
  • Historical Cannabis Facts - By: Robert Kane
    A lot is written and said about the evils of cannabis, but a lot of its history indicates otherwise, as this list of 5 historical cannabis facts demonstrates...
  • Homeowner Wildfire Safety Practices - By: Stan Hume
    Even if you've got the proper insurance coverage, it's still always better to avoid a situation that can cause a claim or make a situation worse. Here are some basic things you can do to reduce the likelihood of an accident or to minimize a loss.
  • Magazine Subscriptions for Money Savings and Ease of Use. - By: Martin Alan
    Printed newspapers and glossy magazines are often items that we expect to be around for a long while and most probably will. But the modern technology and the internet digital and online media is becoming more and more popular.
  • Your Favourite Magazines Online - By: Martin Alan
    Electronic magazines, or e-magazines represent the future for our favourite glossies, journals, monthlies and digests in the same way the e-book represents the future for literature and novels. This article looks at the rise of e-magazines as well as the advantages, which they can offer both readers and publishers.
  • Number Crunching Is Just One Aspect Of A Career In Accounting - By: Wallker Tuener
    You can expect anybody who is taking up accounting as a career to be a number crunching monster who always expects you to account for every penny that you spend in the general course. Even if you spend very little on something, it would always be too much for them.
  • Voluntary Jobs for the Youth - By: Steve Volman
    Volunteer opportunities provide a variety of benefits to those who seek them. Individuals have the chance to network and meet new people in different kinds of locations both socially and professionally.
  • Anastasia International Scam - By: Wallker Tuener
    Anastasia International is a leading company in Russian-American introduction business that provides a comfortable and secure platform where people who are looking for a relationship can register themselves and start communicating with others.
  • Single in Arizona? - Book a Date Online Today! - By: Michiel Van Kets
    Arizona has grasslands, impressively tall pines, desert landscapes and rocky mountain vistas. Travel through this amazing landscape and discover the metropolitan area of Phoenix, home to 4 million people and the 5th largest city in the U.S.
  • Danger UXB - By: Krizzy Sean
    On Sunday, I went for a quiet walk with my family at the seaside town of Felixstowe. It was an uneventful afternoon and there was a lot of work being down to strengthen the sea defences there.