Reply to "The Bailout..."

Ford is a diversified global corporation; it manufactures all sorts of things, including satellites, and has divisions and manufacturing plants scattered around the world. Only one division of Ford is asking for bail out money, the division that manufactures automobiles for North America. If it were to fail tomorrow (and for the sake of the employees and their jobs I hope it doesn't) it would not mean the end of Ford _______________________________________________

... Sorry to contradict you George, but Ford has sold its satellite divisions at least 10 years ago. It has also sold it's tractor division, its heavy truck division, its daily rental business and a lot its real estate (the RenCen was sold to GM, at least 5 parts depots and regional offices in Canada only, similar situation in the US) Ford parts used to be delivered by Ford employees, now it’s another subcontract and bulk pieces of Ford Credit were also sold aka Primus: financed other makes. As stated at one point they even spun off Visteon (their parts division), it went Chapter 11 and they had to re-integrate their white collar employees to save Ford supply of parts. Much of the engineering is now contract work. The Owner Relations - Customer Complaint division was also sold, they now hire people at minimum wage to respond to customer complaints with the help of software. They are in the North end of Toronto ;( That used to be the entry level position?? Ford's (in)famous President Jack Nasser (See Firestone lawsuit) even wanted to sell the assembly plants but that fell through. Lately I know they sold AstonMartinLandRoverJaguar. They have tried to part with as much of their ‘expensive’ `personnel; Nasser had a $20K bounty for managers who managed to entice people to accept early retirement: the layoffs 3 and 4 years ago targeted people who were 40+ years old had 10+ years , Younger people cost less (medical plan) and newer employees have different pay and pension plans. They have been selling the company off piece by piece and also watering down The Corporate culture. Many of the people left have no passion for automobiles (look down on those who do) and would be better off selling shoes or peanuts.

I haven't looked at the last shareholder report (I threw it out in anger). But I can tell you the major observation with at least Ford is that if you combine the Ford Family and the executives they own more than 60% of votes can decide anything they want. The shareholder meetings are just a formality. To my recollection NO shareholder suggestion has ever been voted YES. Which makes the stock market a glorified collateral asset to borrow money. New models are very expensive to start-up but pay-off well. I remember the shares at $68 , everybody was waiting for a split what are they worth now $4 . So you can see why automakers want a LOAN (Not a bailout). Ford has been expecting this for at least 4 years. (the MBA disease has been to cost less not sell more or better). The view from the executives is that higher salaries attract better management yet it has been a downward spiral for at least 10-12 years. What can we say, Bill is not managing the Company. Mullaly and Fields are the guys running the show on a daily basis. Mullaly salvaged Boeing and Fields used to run Mazda and he is a showman. A Detroit newscaster showed viewers what kind of 2 faced lifestyle he has.