GM bought Ford???

[Diesel Donna]

Did I hear correctly that GM bought Ford? I know that Bill Ford stepped down a couple of weeks ago.
Anyone know more about this?

 

[p51]

Did I hear correctly that GM bought Ford? I know that Bill Ford stepped down a couple of weeks ago.
Anyone know more about this?

Well, it ain't in the NYTimes or the WSJ. Anyway, it would be like throwing a drowning man (GM) a boat anchor (Ford). But, having said that, stranger things have happened. Ford, however, did anounce today layoffs of salaried workers, buyouts of some hourly workers, and plant shutdowns.

BTW: If anyone has read "The Reckoning" by Halberstram (sp?) its time to dust it off and re-read it. He could reissue the book with "Nissan" replaced with "Toyota" and it would probably fit. Its "Deja-vu all over again"

 

[390cs68rcode]

nope! :smile:

 

[marie68csmustangs]

I don't know anything about GM buying Ford. I do know that Ford is cutting back and laying off workers.

Marie

 

[coloradoHCS]

Today Ford offered early retirements or buyouts to its entire US hourly payroll employees, roughly 75,000 of them. They are closing the Windsor engine plant among others in an effort to reorganize the company into a smaller entity. They do not believe they will be profitable until 2008-2009. I don't believe GM could afford to buy them even with the changes. I believe Ford may have to merge with another healthy automaker, possibly from Japan to survive.
Mark.

 

[sam]

..............say it ain't so.................
I think the main news has been Bill Ford stepping back and the early reitrement incentives to about 75000 workers. Something needs to kick up the stock for all those holding any right now.......

 

[Mustanglvr]

I heard President Bush was going to have a meeting with all three major American automakers. Has that happened yet?

 

[Redwingrobb]

I heard President Bush was going to have a meeting with all three major American automakers. Has that happened yet?

No, I don't think it's happened yet. My whole family and many friends are part of the "Big Three" industry up there and it's sad to go home and see how the region has been affected. Homes in foreclosure, high unemployment rate, etc...Sad...Robb

PS. If GM buys Ford, I'll puke.

 

[admin]

Looks like you weren't losing your mind Donna.
http://californiaspecial.com/forums/t3775-possible-frodgm-merger-or-alliance.html

 

[p51]

Did I hear correctly that GM bought Ford? I know that Bill Ford stepped down a couple of weeks ago.
Anyone know more about this?

Donna

You scooped the NYTimes. Looks like there was a some discussion of a GM-Ford merger last month. What are ya, some kind of insider? :wink:

James

http://dealbook.blogs.nytimes.com/?p=7431

Sep. 18, 2006
6:30 am
A Ford-G.M. Merger?

TOPICS
Mergers & Acquisitions, General Motors, Ford Motor

INDUSTRIES
Airlines/Autos

Could the Big Three become the Big Two?
That is the far-fetched scenario raised Monday in the trade publication Automotive News, which reported that auto makers Ford and General Motors have discussed a merger or an alliance. Citing “several sources familiar with the talks,” the publication says the talks began soon after Nissan chief Carlos Ghosn suggested exploring a three-way alliance among Renault, Nissan and G.M. in July.
Automotive News wrote:

Last month, GM CFO Fritz Henderson discussed an alliance with Ford CFO Don Leclair, said a source familiar with the talks.
But it is not at all clear whether the negotiations will bear fruit. As of now, the two companies are not holding talks, and one source says there’s a slim chance that anything will come of it.
​

Such a move seems highly unlikely to us as well. And considering the state of affairs at G.M. lately, it brings to mind the old saying about the two drowning swimmers in a watery embrace.
But the talks, if they occured, are notable if only because they underscore how serious Ford’s predicament is considered to be these days.
Rightly or wrongly, the chatter surrounding this storied American company has become increasingly apocalyptic. The automaker, which has been losing market share and money, recently brought in a former Boeing executive as its new chief executive in what amounted to a startling admission that major change is needed. After Ford unveiled the latest elements of its “Way Forward” turnaround plan last week, its stock fell 12 percent and Merrill Lynch’s research analyst cut his rating on the company from “neutral” to “sell.”
“They’ve got to make this work,” John Casesa, managing partner of Casesa Strategic Advisers, told The New York Times of Ford’s latest plan. “Because they won’t have another chance,” he added.
Monday’s Ford-G.M. merger story is not the only far-out speculation surrounding Ford. There have been articles in USA Today and The Detroit Free Press contemplating whether an investor group might take Ford private, so it can revamp itself outside of Wall Street’s constant scrutiny. While that might be a plausible notion for another company in a similar situation, Ford is controlled by its founding family, making a take-private transaction all but impossible without their support.
Go to Article from Automotive News (Subscription Required)>>
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Go to Related Article from The New York Times>>
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[Diesel Donna]

p51.....I could tell ya..but then I'd have to kill ya.:icon_shif

 

[p51]

p51.....I could tell ya..but then I'd have to kill ya.:icon_shif

Donna, just went out and hired some protection, James :wink:


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[Diesel Donna]

Donna, just went out and hired some protection, James :wink:


:icon_shif :icon_shif :icon_shif
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James, I know where you live......(creepy music starting up). J/K!