Economy Ford Plans On Laying Off 24,000 Employees

[JonesBones]

I understand what your saying but Carrier, Dow Chemical are really not in the car business. These like others are weighing the economic situation an see slowing growth.

But this also could potentially signal a market correction as it relates to a potential recession.

Ether way you look at the market currently an think what could be wrong but then look at fuel costs an raising deficits an it''s not that clear.

Factor lower foreign investment in bonds that''s not a good sign. Ether way a very hot economy still with growing deficits is not a good sign also in regards to the economy.

Usually when an economy is in recovery deficits are reduced. The idea is create jobs collect more tax revenue pay down the debt.

Here we are in the 7th year of an economic rebound an the deficit continues to grow. Not signs of a good economic sustainable growth.

Yes, Ford suffering means a market correction is imminent. If that was the case, the market would crash everyday. Shit post as usual.

 

[JonesBones]

PEB is kind of a like a Chicken Little meets Boy Who Cried Wolf.

He has fuckin nothing and hopes the rest of the world ends up the same as him.

 

[JonesBones]

President Trumps economy update: Confirmed global slowdown to recession finally the market is telling people what major industries already know. They been shutting down plants and laying off workers as they prepare what could be huge pain ahead for the brands. The impact could be worst then 2008 without the usual tools in our arsenal towards energizing the economy. The Fed holding rates to current level means they don't have much room to for a market correction in terms of rate cuts. Top it off the US is seeing major buyers of US treasuries pulling back or selling off. Ford, GM, Fiat are all laying off people and most part suppliers have seen large reductions in part ordering. Recent indicators seeing the yield curve flip and bonds returning 2 percent set the stage for major pain ahead. While people like Henrich and many many others are out in the front of this warning people to prepare for what's coming.

And the market is up big, retard. You are really bad at this.

 

[ineverpost]

Unfortunately, it has been a matter of time for all this to happen with the big 3 auto manufacturers. The bailouts, cash for clunkers and subprime lending moved car buying to the forefront, while stealing from car purchases that would have taken place in the future. It sure looks like we might be hitting the wall as a consequence of dumb government intervention.

There was nothing dumb about it. It was a calculated move by politicians to help their wealthy friends out.

 

[PEB]

And the market is up big, retard. You are really bad at this.

The market was also on an upward trend too before the 2008 crash. Name calling check total jackass reaction without facts other then to point too short term gains VS what is actually happening in the workplace. I already pointed out that companies have boosted their stock prices with buybacks in record amounts "Over 800 billion" yet just in the automaker space they have already layoff over 75,000 people between the largest automakers not even factoring the people who produce parts for the automakers in the last year. If you lift the facts over your jackass remarks maybe actually proving something other then BS lines.

"
The stock market crash of 2008 occurred on September 29, 2008. The Dow Jones Industrial Average fell 777.68 points in intra-day trading. Until 2018, it was the largest point drop in history. It plummeted because Congress rejected the bank bailout bill. But the stresses that led to the crash had been building for a long time.


On October 9, 2007, the Dow hit its pre-recession high and closed at 14,164.43. By March 5, 2009, it had dropped more than 50 percent to 6,594.44. Although it wasn't the greatest percentage decline in history, it was vicious.

"

Everything was well an good till the shit hit the fan. The question is what is the number for the correction it's not a matter of if it's a matter of when and most with actual facts see it within the next year to year and half.

Date Nasdaq % Chng.§ S&P 500 % Chng.§ Dow Jones % Chng.§ Notes
January 3, 2007 2,423.16 — 1,416.60 — 12,474.52 —
October 9, 2007 2,803.91 +15.71% 1,565.15 +10.49% 14,164.53 +13.55% The day the DJIA and S&P 500 peaked.
October 10, 2007 2,811.61 +0.27% 1,562.47 −0.17% 14,078.69 −0.61% The day the NASDAQ peaked.
January 2, 2008 2,609.63 −7.18% 1,447.16 −7.38% 13,043.96 −7.35%
June 27, 2008 2,315,63 −11.27% 1,278.38 −11.66% 11,346.51 −13.01% The day the bear market declared.
November 4, 2008 1,780.12 −23.13% 1,005.75 −21.33% 9,625.28 −15.17% Election day
January 2, 2009 1,632.21 −8.31% 899.35 −10.58% 9,034.69 −6.14%
January 20, 2009 1,440.86 −11.72% 804.47 −10.55% 7,949.09 −12.02% Inauguration of Barack Obama
March 9, 2009 1,268.64 −11.95% 676.53 −15.90% 6,547.05 −17.64% The day the DJIA, S&P 500 and NASDAQ bottomed.
October 9/10, 2007 to March 9, 2009 −1,542.97 −54.9% −888.62 −56.8% −7,657.49 −54.1% Cumulative change (from peak to bottom)

 

[ElKarlo]

It's global but it does not help that 1 in 5 are now more then 3 months late in paying their car loans and that has increased since President Trump has taken office. There is over a trillion dollars of car loans and 1/3 to 1/5th of them are delinquent in payments. Deficit is growing rapidly and China as well as other Countries are selling off US bonds and yields are dropping. Many in Government as well as Wall Street have been warning about the car loans and compared it to the conditions that hit mortgages. This is just not a Ford issue as pointed out in the video trickle down economics is not working to drive manufacturing as reported by Goldman Sach stating that a record 880 billion in stock buybacks since the corporate tax break has driven up stock prices but done little to stimulate the economy and also ballooned the deficit. GM, Fiat Chrysler have been exploring partnerships or in the case of FCA being acquired by Nissan.

President Trump spends a lot of time in Michigan but US automakers are worried another big downturn could close the doors for good. So as President keeps on complaining there is little US automakers can do with they are close to bankruptcy.


https://www.usatoday.com/story/opin...on-rally-2020-presidential-column/3302325002/

I don't care for Trump, but you're laying things at his door that started long before him. The trend towards SUVs/CUVs and Trucks started before him, and that has driven up the pricing for cars. People have been buying cars out of their range for many years now. Mostly due to QE and the low interest rates available, they are making people take bigger risks.

I do agree that the defict is outrageous and leaves little to be done when a recession hits.

 

[bobgeese]

The market was also on an upward trend too before the 2008 crash. Name calling check total jackass reaction without facts other then to point too short term gains VS what is actually happening in the workplace. I already pointed out that companies have boosted their stock prices with buybacks in record amounts "Over 800 billion" yet just in the automaker space they have already layoff over 75,000 people between the largest automakers not even factoring the people who produce parts for the automakers in the last year. If you lift the facts over your jackass remarks maybe actually proving something other then BS lines.

"
The stock market crash of 2008 occurred on September 29, 2008. The Dow Jones Industrial Average fell 777.68 points in intra-day trading. Until 2018, it was the largest point drop in history. It plummeted because Congress rejected the bank bailout bill. But the stresses that led to the crash had been building for a long time.


On October 9, 2007, the Dow hit its pre-recession high and closed at 14,164.43. By March 5, 2009, it had dropped more than 50 percent to 6,594.44. Although it wasn't the greatest percentage decline in history, it was vicious.

"

Everything was well an good till the shit hit the fan. The question is what is the number for the correction it's not a matter of if it's a matter of when and most with actual facts see it within the next year to year and half.

Date Nasdaq % Chng.§ S&P 500 % Chng.§ Dow Jones % Chng.§ Notes
January 3, 2007 2,423.16 — 1,416.60 — 12,474.52 —
October 9, 2007 2,803.91 +15.71% 1,565.15 +10.49% 14,164.53 +13.55% The day the DJIA and S&P 500 peaked.
October 10, 2007 2,811.61 +0.27% 1,562.47 −0.17% 14,078.69 −0.61% The day the NASDAQ peaked.
January 2, 2008 2,609.63 −7.18% 1,447.16 −7.38% 13,043.96 −7.35%
June 27, 2008 2,315,63 −11.27% 1,278.38 −11.66% 11,346.51 −13.01% The day the bear market declared.
November 4, 2008 1,780.12 −23.13% 1,005.75 −21.33% 9,625.28 −15.17% Election day
January 2, 2009 1,632.21 −8.31% 899.35 −10.58% 9,034.69 −6.14%
January 20, 2009 1,440.86 −11.72% 804.47 −10.55% 7,949.09 −12.02% Inauguration of Barack Obama
March 9, 2009 1,268.64 −11.95% 676.53 −15.90% 6,547.05 −17.64% The day the DJIA, S&P 500 and NASDAQ bottomed.
October 9/10, 2007 to March 9, 2009 −1,542.97 −54.9% −888.62 −56.8% −7,657.49 −54.1% Cumulative change (from peak to bottom)

Today’s Dow opens at 26,2...


Anyone who takes ole PEB seriously should go back a page and look at him cheerleading the Dow losses.


Not only does he hate American success, he also hates being correct.

 

[PEB]

Today’s Dow opens at 26,2...


Anyone who takes ole PEB seriously should go back a page and look at him cheerleading the Dow losses.


Not only does he hate American success, he also hates being correct.

Did you not see the chart I posted and the explanation? This is how Republicans work what happens today when automakers announce their production numbers to the stock market? Yes some companies announce good quarters does not paint an overall picture of the economy just look at what other sectors are doing.


"
Auto sales projected to slow to lowest level in more than 4 years despite SUV and truck demand

• J.D. Power says it expects U.S. auto sales to fall to their slowest pace in more than four years when automakers report first-quarter numbers this week.
• The firm projects that the annual sales rate during the first quarter fell to about 16.7 million vehicles.
• Depending on the final numbers reported by automakers, the pace of sales during the first quarter could be lowest since the fourth quarter of 2014.

"


"
Americans are finally tapping the brakes when it comes to buying new vehicles, according to analysis of first-quarter sales by J.D. Power.

The firm, which analyzed data from automakers and dealers in the first three months of year, estimates the annual sales rate during the first quarter was 16.7 million vehicles in the U.S.

Depending on the final numbers reported by automakers later this week, the pace of sales during the first quarter could be lowest since the fourth quarter of 2014, when the research firm Autodata calculated a sales rate of 16.69 million vehicles.


"I think we're starting to see a slowdown," said Dave Habiger, CEO of J.D. Power.

"

I wonder how the market today will reacted to this news.
https://www.cnbc.com/2019/04/01/aut...level-in-four-years-despite-truck-demand.html

 

[PEB]

Today’s Dow opens at 26,2...


Anyone who takes ole PEB seriously should go back a page and look at him cheerleading the Dow losses.


Not only does he hate American success, he also hates being correct.

Market down -77 points today so what day to day the market moves up and down to use this as reasons why your statements hold true is nonsense. You think the people who are sending out warnings do this because they think the market will not go upwards and downwards and upwards till the day it doesn't. Everyday the market will likely go up even more but they will not send you signs the day it gets clobbered as the chart shows dropping 770 points in one day within a year half of your 401K is wiped out. I will keep this thread coming back time to time for 12 months just for the heck of it. I am not worried about my position on the matter. If the market is up to 32,000 to 34,000 points I will eat a lot of crow.

https://www.google.com/search?safe=....0i71j35i39j35i39i70i249j0i131i10.boVcwcqIq5s

 

[EradiatedHaggis]

This has nothing to do with Trump, this has to do with its CEO promising restructuring over 3-5 years. Here is a report from Sept of last year.


"Ford Motor employees are warily awaiting details of CEO Jim Hackett’s promised “fitness” plan and the serious possibility of significant job losses as the company faces pressure to improve its operations".

https://www.usatoday.com/story/money/cars/2018/09/06/ford-motor-jobs-jim-hackett/1209706002/

Key issue sited is the continued loses in their EUROPEAN division. Which is where most of the jobs are going to be lost. Fake news is now trying to make this into a Trump issue, because fake news is fake.

 

[PEB]

This has nothing to do with Trump, this has to do with its CEO promising restructuring over 3-5 years. Here is a report from Sept of last year.


"Ford Motor employees are warily awaiting details of CEO Jim Hackett’s promised “fitness” plan and the serious possibility of significant job losses as the company faces pressure to improve its operations".

https://www.usatoday.com/story/money/cars/2018/09/06/ford-motor-jobs-jim-hackett/1209706002/

Key issue sited is the continued loses in their EUROPEAN division. Which is where most of the jobs are going to be lost. Fake news is now trying to make this into a Trump issue, because fake news is fake.

I watched Ford back in 2006 and 2007 as a someone who owned stocks and saw them making odd moves such as closing factories and borrowing money at a time that seemed like they where doing well and their business seemed healthy. I also wondered why other automakers had not been doing similar things given at the time the economy was doing ok other then questions about fuel costs and housing prices. I used them not because so much about their business because they been reacting for sometime but now I see others reacting in similar ways meaning they see a shakeup coming. I would be doing this with any company that has a large manufacturing base and as you see Carrier, Harley Davidson, whirlpool and others are making similar cuts and other moves. These companies are reacting because they likely see clouds ahead and for their long term survival they need to prepare.

 

[EradiatedHaggis]

I watched Ford back in 2006 and 2007 as a someone who owned stocks and saw them making odd moves such as closing factories and borrowing money at a time that seemed like they where doing well and their business seemed healthy. I also wondered why other automakers had not been doing similar things given at the time the economy was doing ok other then questions about fuel costs and housing prices. I used them not because so much about their business because they been reacting for sometime but now I see others reacting in similar ways meaning they see a shakeup coming. I would be doing this with any company that has a large manufacturing base and as you see Carrier, Harley Davidson, whirlpool and others are making similar cuts and other moves. These companies are reacting because they likely see clouds ahead and for their long term survival they need to prepare.

I made a shit-ton off them in 2009-2012. What they are doing has nothing to do with "clouds ahead". They are doing what all companies do when markets change, evolve or die. There are more manufacturers today than there were in 2000, the auto industry has changed vastly and is continuing to change.

The previous Ford CEO did not take electric seriously along with the other members of the big 3 and now they are way behind and unprepared to compete even on the hybrid level and none of them fought to break into the China market...that is what their problem is. They let themselves be left behind.

 

[bobgeese]

Market down -77 points today so what day to day the market moves up and down to use this as reasons why your statements hold true is nonsense. You think the people who are sending out warnings do this because they think the market will not go upwards and downwards and upwards till the day it doesn't. Everyday the market will likely go up even more but they will not send you signs the day it gets clobbered as the chart shows dropping 770 points in one day within a year half of your 401K is wiped out. I will keep this thread coming back time to time for 12 months just for the heck of it. I am not worried about my position on the matter. If the market is up to 32,000 to 34,000 points I will eat a lot of crow.

https://www.google.com/search?safe=....0i71j35i39j35i39i70i249j0i131i10.boVcwcqIq5s

Of course the market moves up and down.


The problem is you only cheerlead the down...

 

[LangfordBarrow]

Unfortunately, it has been a matter of time for all this to happen with the big 3 auto manufacturers. The bailouts, cash for clunkers and subprime lending moved car buying to the forefront, while stealing from car purchases that would have taken place in the future. It sure looks like we might be hitting the wall as a consequence of dumb government intervention.

Sigh. So what would the alternative have been if we just let everybody fail during that time? Let's not even get into things like deregulation that were the causes that got us to that point.

 

[WarDosAnjos]

B-but Trumps creating so many jobs! This is globalist fake news propovanda! Quick let's give Israel another 36 billion of tax payer money, that will show them!

 

[Hognoxious]

Sigh. So what would the alternative have been if we just let everybody fail during that time?

Obviously, you don't know U.S. History. Those that are incompetent are supposed to fail, while the competent are rewarded. You don't even know how many depressions we have had as a country.

Answer: 13 with a D.

Somehow we still survived and climbed to greatness. Socialism for the rich does not benefit the nation.

 

[AndroidRage]

But he said he was bringing all the jobs back.... ....

 

[PEB]

Well Honda now joining the world of cuts with cuts in the Maryville Ohio plant they will also be laying off hundreds of workers and very likely additional cuts ahead. Even though truck sales are down only 2 percent so far this year Ford and GM are planning on making much larger cuts in their truck manufacturing ahead of where they expect a much larger drop in sales this year. Expect additional layoffs by Ford and GM this year possibly much larger layoffs ahead. Apparently too according to insiders they expect the price of steel and imported parts to climb up in response to threats of additional trade sanctions by President Trump in regards to China and Iran. President Trump trade policies have really not help major US manufactures and job creators.

https://www.daytondailynews.com/bus...ville-production-line/0F8YsK1f9sXLhrZKH7AzUK/

 

[PEB]

I posted this Oct 18 2018 an predicted a massive global recession an it looks on track. "6 months to 8 months" There is also no room to fix the economy this time. Recent actions by the administration to ease trade to boost companies an improve profits have shown very little long term impact.

The fact that we increased the deficit during strong economic growth is a sign any recovery is not sustainable. We are heading towards a long cold economic winter. Social security an Medicaid are going to be big targets this time around because of the huge tax cut.

 

[bobgeese]

I posted this Oct 18 2018 an predicted a massive global recession an it looks on track. "6 months to 8 months" There is also no room to fix the economy this time. Recent actions by the administration to ease trade to boost companies an improve profits have shown very little long term impact.

The fact that we increased the deficit during strong economic growth is a sign any recovery is not sustainable. We are heading towards a long cold economic winter. Social security an Medicaid are going to be big targets this time around because of the huge tax cut.