I can’t imagine the clowns in charge of the General Retirement Plan have not figured out that this coming calendar year would be a great time to buy everybody out. With rates on the rise there is a possibility that the August 2023 rates will be equal or higher further eroding the lump sums. The annuity is just a slippery slope of bad things that could happen if Ford has to reorganize.
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The Ford family also had ties to Na-i Germany. I remember back in the 1980’s when one of the old timers told me that some of the building steelwork/beams in rouge complex had swastikas cast into them.
Always wanted to see a picture of that.
They can't show that math because it's a myth. Subscription revenue will never ever ever exceed vehicle sales. Anyone that tells you that can see the inside of their own colon.
At what year do the projections you are seeing show subscription profits exceeding vehicle sales profits? Show your math.
To previous comment: Subscriptions are not a failure. This is a tremendous growth opportunity and already proven a successful direction for the company. Blue Cruise and Ford Pro are examples.
The elimination of the GRP has always been a strategic priority. Remember, the Ford family is quite greedy. The implications to morale or long term loyalty is meaningless. Nepotism is the norm if you want to survive, lol, just ask Jim Buczkowski!
Sooner or later the WSJ, NYT, 60 Minutes or someone will expose the pattern over the last decade of targeting older employees with pensions and eliminating them. In terms of recruiting talent, take a look at so-called current leadership. Roz Ho?! HP couldnt wait to get rid of her. Looking through the ranks, plenty of HP losers at FMC. Ken Musgrave, Robert Moser. Accomplished nothing and yet Ford brings them on. Farley's tirades are epic, hopefully he will accelerate his elimination of useless leaders - just like he forced J Falotico to retirement and many others. Work has been strangely quiet, not a good sign. The GTHs are all fluff. Waaaayyyy too many fails lately, Argo, AV, Michigan Central Station, Subscriptions, programs are all delayed and every week there's another huuuuge recall. Accountability? Can't hide forever. My guess first thing in the new year more cuts and FINALLY it will be LL4 and above.
I would not be surprised if they announce that they will FREEZE the pension. Rumors have been circulating for some time now. Just remember JF told the investors in February we have too many people in NA Lie #1. But a few weeks back they announce they plan to hire 9k Mexican employees. Lie #2.
LIE#3 We keep PD centers in those areas where we have a large market (ex-Europe). I did not know Mexico was a growing market, did you?
Bottom line they want a cheaper salaried workforce.
- Z-
The GRP has been a hot spot for years. Ford in its great wisdom failed to see the value of long term employees. Too much kingdom building and greed among the people in charge.
Ford evolved in to a complex machine with simplicity and efficiency as secondary goals. T
What a great way to continue to lower morale. While we are at it, we should make everyone come in the office so people not on the GRP can hear how Ford is treating employees as a number. #knowyourworth