Your email address is safe with us. View our Privacy policy.
Free Financial Tools:
Start planning your financial future with our free financial tools & calculators.
Start planning your financial future with our free financial tools & calculators. 
Ford turns big profit, loses union vote
In the recent quarter, Ford capitalized on the Cash for Clunkers program, a federal rebate designed to help automakers weather the recession and car owners trade up in fuel efficiency. Ford also gained market share as U.S. rivals General Motors Co. and Chrysler Group struggled to emerge from bankruptcy proceedings, CNNMoney.com reported Monday.
Revenues from auto sales in the third quarter hit $27.9 billion on the sale of 1.23 million vehicles, a 5 percent bump from a year ago.
Ford said it expected to be "solidly profitable" in 2011, although the Detroit News reported the company's union workers rejected a contract designed to bring Ford's labor costs more in line with GM and Chrysler.
The United Auto Workers union said 70 percent of production workers and 75 percent of skilled trade union members voted against the contract that included a limited no-strike clause.
In an e-mail, the UAW said, "we will not be returning to the bargaining table."
Copyright 2009 by United Press International
This news arrived on: 11/02/2009
Printer Friendly Version | Send this page to a friend | Post Comment
Rate This Story:
Great - 5 - 4 - 3 - 2 - 1 - Bad
Posted Comments:
11-02-2009 16:24
bj wrote:
Unions
You have one auto maker that did not need tarp funds, was not bailed out and is now going to end up like the rest of them and for the same reason: Unions.
Comment archive | Comment FAQ's
 |
 |
View Business News ezine stories by date or visit the complete archive |
The ArcaMax Politics channel is one of 70 content categories offered by ArcaMax Publishing on this ... |
VideoSquares.com
