Breaking: Ford Motor Cutting North American Production For Rest Of Year

[babylonsister]

MSNBC just now; will update w/link when possible.

[PearliePoo2]

1. as in........

they will not produce ANY more vehicles??!!!

[babylonsister]

3. That's what it sounds like. I'm more concerned with the employees.

:(

[PearliePoo2]

8. if so....

this is huge and devastating.
the ripples are just starting. All the jobs, additional businesses associated with car production,etc.
I've got a sick feeling here..the repercussions of the price of oil could be the ruin of this country and life the way we knew it. BASTARDS!

[SpiralHawk]

2. "You can thank me, my cronies, and Republiconomics. Smirk." - Commander AWOL

"After all, I am The Decider." - Commander AWOL

[Fleshdancer]

4. My thoughts and good vibes go out to all the employees

This sucks. :(

[Horse with no Name]

5. The rest of the year

Which means they produced vehicles for 5 months and are stopping for 7. :wow:
What about the new year models for 2009?
The fact that they are not in production doesn't portend well for 2009 either.

[AlCzervik]

6. last night i heard it was the truck division, the news said they would close one of the

f150 plants for 5 weeks in MI i think and they were also thinking about doing the same with a plant in KY. Has that changed as of this morning?

[babylonsister]

9. I'm looking for a link to clarify, but nothing yet. Will post ASAP. nt

[AlCzervik]

12. what i heard may be old news by now, a lot happens when i'm sleeping.

:+

[Fleshdancer]

13. It sounds like it's all production

CNN didn't make any distinction :shrug:

on edit:
Sounds like it is just trucks and SUV's...

found a link: http://www.chicagotribune.com/news/chi-ap-ford-cuts,0,110209.story

The cuts primarily will affect pickups and sport utility vehicles, which have seen sales plummet in recent months. Ford plans to increase its production of cars and crossovers.

[AlCzervik]

15. yeah, thats what i heard on my local news which makes sense, people can't afford to

fill them up. I have an electrician doing some work in my back yard, he showed up in a New Honda, i asked why no truck, "I have one but i don't drive it anymore unless i absolutely have to".

[Clark2008]

7. No one's buying cars...

Who can afford to?

[Fleshdancer]

10. CNN is now talking about it....even the teleprompter readers are stunned

Ford was saying they should be profitable by the end of '09 but they've now changed their tune and don't expect to be profitable any time soon.

Talking heads are now wondering if this is indeed the death of the SUV. Interesting conversation actually.

[alfredo]

11. Shit meet fan

[babylonsister]

14. **Link** Ford cuts production, not expecting 2009 profit

http://www.reuters.com/article/ousiv/idUSWNAS506520080522

Ford cuts production, not expecting 2009 profit
Thu May 22, 2008 9:17am EDT


DETROIT (Reuters) - Ford Motor Co (F.N: Quote, Profile, Research) on Thursday said it would cut production through the remainder of 2008 and said it no longer expects to meet a long-held goal of returning to profitability in 2009.

In a statement, Ford said rising prices for commodities, particularly steel, and an accelerating consumer shift from larger trucks and sport utility vehicles would make it impossible to meet the key milestone in its turnaround efforts.

Ford Chief Executive Alan Mulally said the No. 2 U.S. automaker now expects to be "about break-even" in 2009, on a pretax basis and before special items, with strong results from Europe and South America.

(Reporting by Kevin Krolicki, editing by Gerald E. McCormick)

© Thomson Reuters 2008 All rights reserved

[TheCowsCameHome]

16. Cites "shift from trucks and SUV's" Well, D'oh

What a surprise. Who would have guessed?

They've been blind sided - again.

[bdamomma]

17. the dominoes are falling and everything this filthy administration does

has a ripple effect. article here:

http://www.msnbc.msn.com/id/24773925

"Consumers have been shifting to smaller, more fuel efficient cars in the last few months at a pace that stunned the industry".


damn those consumers for giving up those gas guzzlers.:sarcasm:

[bullwinkle428]

18. There was a story no more than a week or two ago about Ford ramping up

production of the Focus, as it was exceeding sales expectations! (The Focus is their most fuel-efficient model, for thos unfamiliar with their model line)

[Blue_Tires]

19. my heart is with the loyal workers