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View Full Version : GM & Ford Employee's fear a Black Friday


Chuck
11-06-2008, 08:23 PM
Ford expects it's cash will get them to 2010, unlike GM (http://ap.google.com/article/ALeqM5jkLTo2BNlbGMAOv_2Z_LlA3lnmuwD949PSP80)

http://www.cleanmpg.com/photos/data/500/empty.jpgTom Krisher and James Prichard - AP – Nov. 6, 2008

With their employers poised to announce billions more in losses and further job cuts on Friday, it's worry time once again at General Motors Corp. and Ford Motor Co. factories across North America.

Both companies are spending billions more than they're making amid the worst economic crisis in decades.

Both say that factory production needs to reflect declining sales, which means job cuts.

According to Ford's top sales analyst and two people briefed on GM's plans, neither automaker is planning to announce factory closures, although they are likely to cut production by eliminating shifts, banning overtime or temporarily shutting down plants. The people did not want to be identified because GM's plans are confidential.… http://ap.google.com/article/ALeqM5jkLTo2BNlbGMAOv_2Z_LlA3lnmuwD949PSP80

roadrunner
11-07-2008, 06:42 AM
This article..........
"Johnson estimated that Ford burned $2.3 billion of cash last quarter and will end 2008 with $20.1 billion, but unlike GM, it will get through 2009 without reaching the minimum required to run the company. With no sales improvement next year, Johnson expects Ford's cash balance to remain above the $10 billion minimum, he wrote in a note to investors."
Actual reported on 11/7 was...........
Ford Motor Co. says it lost $129 million in the third quarter as the struggling automaker burned up $7.7 billion in cash. Actual was 5.4 billion worse.



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