Economy Ford Plans On Laying Off 24,000 Employees

IReallyDoTrainUFC said:
The economy isn't booming though. It's all fake debt spending. This economy doesn't need more spending, it needs more saving.
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This is my assessment, but regardless of the fact overspending is helping to produce this surge, it is still a surge:
https://tradingeconomics.com/united-states/gdp-growth
ead64ecf-1616-4b1d-8d7b-072021d1af56.png
 
Dow could be set for an 700 to 1000 point drop today.
 
"
Corporate America isn't coming to Wall Street's rescue after all.

The Dow dropped 500 points, or 2%, on Tuesday morning after major US companies reported gloomy results and guidance. Disappointing numbers from Caterpillar and 3M reinforced ongoing concerns about how long blockbuster profits can last, especially given tariffs and rising costs.

The S&P 500 declined 2.2% and the Nasdaq tumbled about 2.7%."

https://www.google.com/amp/s/amp.cnn.com/cnn/2018/10/23/investing/stock-market-today-dow/index.html
 
The reality is if your business isn't growing and making insane profits every year, you are seen as a failure. Stockholders freak out and the business in question starts cutting jobs to boost their income.

The issue isn't Trump or tariffs, it's this insane Wall Street gambling racketeering. My employer just took a deep hit in their stock price because they couldn't meet the numbers they promised (despite being hugely successful) and now they are panicking.

I'm sure job cuts are coming and of course instead of going after the big CEOs, VPs, etc. who are making 6 figures, they'll go after the little people that actually make a difference. This is how a publicly traded business works and it's shame.

Apple can post 1 billion dollars in profit but if they made 1.5 billion last year, it's seen as a failure and the sky is falling.
 
I wonder if President Trump going to take credit for this amazing economic news.

"
Stocks plummeted on Wednesday as a sharp drop in tech shares and worries about corporate earnings added fuel to this month's steep pullback.

The Dow Jones Industrial Averagedropped 608.01 points at 24,583.42 and erased all of its gains for 2018. The S&P 500 dropped 3.1 percent to 2,656.10 and also turned negative for the year. The Nasdaq Composite fell 4.4 percent to 7,108.40— entering correction territory — as Facebook, Amazon, Netflix and Alphabet all traded lower."

https://www.google.com/amp/s/www.cn...e-open-after-tuesdays-500-point-recovery.html
 
There are very few data points to justify such a quick drop. Usually there is a world stage event or major economic shortfall that causes these numbers. The conspiracy side of me is looking at the upcoming elections and this as an engineered event in order to undermine the biggest Trump/Republican successes.
 
Stoic1 said:
There are very few data points to justify such a quick drop. Usually there is a world stage event or major economic shortfall that causes these numbers. The conspiracy side of me is looking at the upcoming elections and this as an engineered event in order to undermine the biggest Trump/Republican successes.
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An engineered event by who? Who do you think is capable of causing market wide drops in share prices across dozens of companies?

Perhaps instead of going to the conspiracy theory well you can look at historic trends showing substantial pull backs in the market heading into midterms. Or consider that the GOPs economic policies are not yielding the job, wage, or economic growth they were predicated on. What they did yield was a record amount of stock buybacks by companies which had the effect of over inflating market growth.
 
ScottE said:
An engineered event by who? Who do you think is capable of causing market wide drops in share prices across dozens of companies?

Perhaps instead of going to the conspiracy theory well you can look at historic trends showing substantial pull backs in the market heading into midterms. Or consider that the GOPs economic policies are not yielding the job, wage, or economic growth they were predicated on. What they did yield was a record amount of stock buybacks by companies which had the effect of over inflating market growth.
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That's the MO for the tRUmper. I don't understand or like the explanation, therefor it must be a CT
 
Senzo Tanaka said:
The reality is if your business isn't growing and making insane profits every year, you are seen as a failure. Stockholders freak out and the business in question starts cutting jobs to boost their income.

The issue isn't Trump or tariffs, it's this insane Wall Street gambling racketeering. My employer just took a deep hit in their stock price because they couldn't meet the numbers they promised (despite being hugely successful) and now they are panicking.

I'm sure job cuts are coming and of course instead of going after the big CEOs, VPs, etc. who are making 6 figures, they'll go after the little people that actually make a difference. This is how a publicly traded business works and it's shame.

Apple can post 1 billion dollars in profit but if they made 1.5 billion last year, it's seen as a failure and the sky is falling.
Click to expand...

You're right that the over-arching corporate behavior is not dependent on what party is currently in power. But what I believe you are overlooking is that current GOP economic policy is mimicking this behavior.

Promise too much. Take unsustainable measure to try and achieve this. Fall short and cause issues.

This is so far the economic policies of this administration particularly regarding the tax cuts.
 
ScottE said:
You're right that the over-arching corporate behavior is not dependent on what party is currently in power. But what I believe you are overlooking is that current GOP economic policy is mimicking this behavior.

Promise too much. Take unsustainable measure to try and achieve this. Fall short and cause issues.

This is so far the economic policies of this administration particularly regarding the tax cuts.
Click to expand...

Wall Street analyst put it this way debt is growing, Fed reserve more aggressive response to to higher inflation due to the tax cut, problems in Europe an China as well as the tariffs are impacting US businesses some as much as a billion to two billion a year.

This on top of increasing the deficit by 2.2 trillion in less then 2 years does not help. President Trump is seeking another "middle class?" tax cut for 10 percent. This is only raising concerns that no one is addressing the debt only adding to it.

Edit: Here are a few companies being hit hard by tariffs.
caterpillar, Ford, GM, Apple, US steel companies an Harley-Davidson.
 
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splendica said:
A guy I work with just had the radiator crack on his Ford. It's a little car (I believe a Fusion) and like 4 years old. I believe he said it has about 70 k miles on it.

Bottom line, I was not surprised. North American cars are not good compared to German and Japanese in particular.
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No surprise at all

Everyone I’ve known with any model Jeep had problems soon after purchase. Fords, Dodge, Pontiac etc, problems always in due time

They should be ashamed for producing such an inferior product
 
*Z* said:
24000 people that won't be voting Trump in 2020.
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Don't count on it. Farmers are hardest hit by the tariffs and they still support Trump.
 
Their durability is garbage now.

Our department SUV's need crazy maintenance to stay going compared to the old crown vic's.

All the steering wheel mounted controls stop working quick. Check engine lights galore and just problems with them. We had to install carbon monoxide detectors in the whole fleet due to concerns about CO poisoning.

That said, they did this before the last crash so economy may be heading to the shitter soon...
 
Protectandserve said:
Their durability is garbage now.

Our department SUV's need crazy maintenance to stay going compared to the old crown vic's.



That said, they did this before the last crash so economy may be heading to the shitter soon...
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I currently drive a Mercury Mariner based on the Ford Escape. Been good so far.

That being said a number of companies are cutting back an giving lower forward guidance in Q4 and seem less willing to talk about investment in expanding manufacturing.

This is mostly due to tariffs, higher fuel costs, an material costs from suppliers. Many of these suppliers require parts from Chinese an European suppliers.

These are issues top it off always the worries about what Saudi Arabia planning on doing to their oil and Iran being hog tied from the US even as European companies an Chinese firms want to continue their relationship with them.
 
Senzo Tanaka said:
The reality is if your business isn't growing and making insane profits every year, you are seen as a failure. Stockholders freak out and the business in question starts cutting jobs to boost their income.

The issue isn't Trump or tariffs, it's this insane Wall Street gambling racketeering. My employer just took a deep hit in their stock price because they couldn't meet the numbers they promised (despite being hugely successful) and now they are panicking.

I'm sure job cuts are coming and of course instead of going after the big CEOs, VPs, etc. who are making 6 figures, they'll go after the little people that actually make a difference. This is how a publicly traded business works and it's shame.

Apple can post 1 billion dollars in profit but if they made 1.5 billion last year, it's seen as a failure and the sky is falling.
Click to expand...

Part of the reason for this is Wall Street really does not care about Apples current quarter. Hidden mostly from people who do not follow their logic that closely is Wall Street reads the corporate guidance in Q4 or Q1 next year.

When Apple reports a lower quarter is one thing but alarms go off when Tim Cook says Q4 profits are going to be lower because of stiff competition and higher tariffs on parts being brought into China "their largest market".

This plus continued reduction in sales due to competition from Xiaomi and others. Recently Apple dropped to 3rd place or 4th place in Chinese sales. This no doubt will weigh down any company stock even if they exceeded expectations.
 
Ford Stock has been in decline for more than 5 years, and has dropped by 1/3rd in 2018 alone.
 
djacobox372 said:
Ford Stock has been in decline for more than 5 years, and has dropped by 1/3rd in 2018 alone.
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Yes but they have not acted this aggressively till they seen a steep decline in truck sales their strongest market. Truck sales are also the bellwether for the economy due to the amount they are relied on by companies. If companies are not buying as many that is viewed as a negative for the economy.

They as I pointed out in the past have made moves similar to what they are now doing in the past to prepare for economic downturn.
 
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