Ford Motor Company far outpaced analysts’ expectations in the second quarter, reporting that its net income nearly tripled from a year ago to $1.9 billion. For the full year, Ford expects adjusted EBIT of $11 billion to $12 billion. That’s a significant increase over the $9 billion to $11 billion Ford had predicted last quarter.
Ford CEO Jim Farley made some strange claims recently in the Detroit Free Press. He talked about the $112,000 a year that the “average” UAW member makes at Ford. It was a number that didn’t sit right with UAW Vice President of the National Ford Department Chuck Browning, so he wrote to the Free Press
Yesterday, the federal government announced a massive $9.2 billion giveaway loan to Ford Motor Co. through the Department of Energy to create 7,500 low-road jobs with no consideration for wages, working conditions, union rights or retirement security. This handout may further enrich Ford shareholders, but it shortchanges communities and the UAW members who produce Ford’s