Thread regarding Ford layoffs

I am so sadden by the so called retirement of Joe. He was the one guy that I thought could help this company. He was/is a people person and down to earth. I never have seen Hacket go into an assembly plant and talk to the hourly people or the salary on the floor. Joe is the type of person who cared for the people and wanted to help better the company.

I am very disappointed in the board and the Ford family to let this person go. There were a lot of issues with that awful launch of the Explorer that Joe should NOT take the blame for. Why not just cut his bonus for the year or something like that. He is too great to loose for the company.

Why not get rid of Hacket for the smart redesign! That was a total F—Up! People still don't know what they are suppose to do and departments are arguing about who is suppose to to do what. That was and still is a major issue.

Joe you will be missed!

We all have a turn in the barrel.

summa sedes non capit duos

Many/most retiring executives LL4 up get 3+3.

Do all “Retiring” Ford employees get paid two years’ salary, when annual is $1.1 million,and a three year bump in their pension?

During the great recession you could get 8% yield on Ford bonds. They were high-yield bonds rated as junk as were many auto companies.

Moody's still has Ford at Junk status. If two of the three move to junk ratings then
there are many investors who currently purchase Ford’s debt that would be unable to do so. That means many investors would have to sell their bonds. It means that there are investors that Ford can currently go to to get money and might not be able to do that in the future.

Ford was rated as junk status once before and they recovered (for a while) so its not necessarily the kiss of death. Hopefully someone at the top will recognize that doing the same thing over and over expecting a different result is one sign of insanity and adjust course before it’s too late. With any luck they’ll realize the need to adjust before ALL the people who know how to design and build quality vehicles are gone.

I blame Elena Ford. Farley got her promoted, she caused a huge increase in warranty by insisting any customer with a transmission problem get a New transmission. The big jump in warranty hurt Joe.

I am more worried about to the future of Ford Motor Company than what departing executives are walking away with.

If we get downgraded to junk by another Credit Agency the company will be in serious trouble. I haven't seen anything Farley has done that gives me confidence. I wonder sometimes whether the Ford family is getting in the way of sound decisions.

"In a regulatory filing, Ford said that Hinrichs would get his regular compensation, plus payments equal to two years of annual salary, which was $1.1 million per year in Ford’s most recent proxy statement. The company also will add three years of age and service to calculate his retirement benefits."

His SRD deal was better than yours.

It’s really not worth selling ones soul to try to align with Jim’s Reality. Everyone I respected is gone over the past two years. The remains aren’t worth the mental anguish.

Officially Marcy was retired but it’s hard to know what really happened. Did she retire because it was a part of her long term plan, because she didn’t like how things were going or because she was told “it was time to spend more time with her family”? She was respected so they aren’t going to let us know if she was forced out. I suppose that speaks to the new Ford culture when we no longer believe the official statements.

So we now have the Furniture Man and the Ad Man running one of the largest engineering and manufacturing organizations on the planet.

Marcy too eh? Memories - I worked with her when she was an FCG working for what used to be called the Body and Assembly group - she certainly had a different career path than most.

I won't shed any tears however. They have plenty of money and opportunites going forward.

Joe all out quit. Read about it in the wsj. He reminded hacket the billions in losses are attributed to Hackett visions not based in reality. More talented people leaving soon.

This news saddens me. Chris's cousin would make a poor CEO, I worked under him from 2009-2014. He did promote Elena Ford so he may become "the guy"

Marcy and Joe are gone. And now we are stuck with the guy that hired Jim Harbaugh, and Chris's cousin.

Did Marcy get fired too??

Didn’t know Hinrichs well but always heard great things. I knew Marcy, though not well, and by all accounts she was amazing. Hopefully they don’t eliminate all the people from the Mullay and Fields days because we were on track then. Never heard anyone say negative things about Mullay. Fields didn’t get the credit he deserved. I worked at Mazda when they were almost belly up and he came in and turned things around. He didn’t come across well on camera but in person he was honest and built a structure of trust. He had a plan and shared it even if the information was unsettling. We had confidence in him and he delivered. It’s cause for concern when the leader no one trusts is eliminating all the leaders we do trust. That creates a culture where people are afraid to speak truth to power. A great leader surrounds himself/herself with talented people and heeds their advice. Doesn’t sound like that’s happening.

The knives are out on the top floor of WHQ.