AFSCME 3357-HOF'S BLOG

From the No Way file:
Ford Posts 2nd quarter Profit


With no thanks to the North American Market, Ford posted a $750 million profit in the 2nd Quarter of 2007. This is Ford's first profit in two years. While the North American automotive operations lost both money and market share. Ford was profitable abroad. Even its notoriously money-losing Premier Automotive Group made a slight profit. Ford Motor Credit broght a billion dollars to the bottom line. Cost-cutting played an important role in the profitability of the company.

Ironically, the reported profit couldn't have come at a worse time. Ford is seeking drastic cuts to its labor costs in the contract negotiations currently under way with the union. Tee better Ford looks financially, the less willing the UAW will be to make the big cuts.