Ford & Visteon Deal
Ford Sells Hertz
Ford & CAW Settle
HerThe people at Ford have been busy beavers lately. The article linked below discusses a deal with Visteon that transfers control of 17 plants back to Ford. Ford will assume responsibility for about 5000 salaried employees and 18,000 hourly employees.
In other news, Ford sold Hertz to an investment group for $5.5 Billion. It's not clear whether that move, by itself, would be enough to raise Ford's debt to investment grade.
In still OTHER news, Ford has settled its contract with the Canadian Auto Workers (CAW). The workers get a modest boost in pay. Ford gets to close two facilities and in the process will lay off approximately $1,100 CAW employees.
Ford, Visteon reach agreements on transfer deal - 09/13/05
Tuesday, September 13, 2005
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