Post by Calvin@KTP on Dec 30, 2009 12:21:30 GMT -5
Is Ford just like American(AMR), a well-managed company that did not file for bankruptcy protection when its competitors did, and now is disadvantaged in terms of labor costs and debt?
We have the same labor costs as our competition in the U.S., both American and Japanese. We have not been disadvantaged (by United Auto Workers' rejection of contract changes), and we will continue to work with the UAW. We have a tremendous track record working with the UAW.
(As for debt), we are paying a bit more interest now because we have a little bit more debt. But you think of all the positive things because we didn't (file bankruptcy and accept buyouts.) People love us, we have a strong business, we have positive earnings and positive cash flow, and we'll accelerate the improvements of the balance sheet.
We have the same labor costs as our competition in the U.S., both American and Japanese. We have not been disadvantaged (by United Auto Workers' rejection of contract changes), and we will continue to work with the UAW. We have a tremendous track record working with the UAW.
(As for debt), we are paying a bit more interest now because we have a little bit more debt. But you think of all the positive things because we didn't (file bankruptcy and accept buyouts.) People love us, we have a strong business, we have positive earnings and positive cash flow, and we'll accelerate the improvements of the balance sheet.
