Ford Powerstroke Diesel Forum banner

Ford Bankruptcy?

8K views 93 replies 33 participants last post by  STEVONATOR 
#1 ·
Hey Guys...If Ford files Bankruptcy, will that null and void our warranties?? If so, Sparten is getting closer!!:thumb:
 
#3 ·
No....they will re organize and everything will be the same pretty much to the consumer...just like it was with Chrysler a few years back
 
#6 ·
No change will be made to the warranties. Even if they legally could do that, I don't think it would be a good long-term idea for Ford. Think about all the pissed off people that wouldn't ever buy a Ford again b/c they did that. They might be able to save a few bucks now but it would cost them exponentially more in the future in terms of lost revenue.
 
#8 ·
Im pretty sure if they file chapter 11 that voids all contracts and or warranties
 
#11 ·
yup bankruptcy makes all the union contracts not worth the paper their written on, so they will get to renegotiate all the contracts whenever they want and do what they want until they decide on a new contract
 
#12 ·
The big three all want the bailout money if they can get it. This would only push back the inevitable bankruptcy. In order for the big 3 to compete with foreign brands they need out of the union contracts as well as other big financial obligations. I see them getting the money from us the taxpayers and then going bankrupt 6 months to a year later.
My truck is almost out of the 36k bumper to bumper warranty but I don't want to lose the 60k power train and the 100k engine warranty.
 
#16 ·
Koterman! Good Idea.... I missed an opportunity to buy a stock this summer @ 7.40 a share, and watched it climb to over 15 in less than 4 weeks :(
 
#17 ·
yep I do believe your are correct, maybe it was chapter 13 that voids things
 
#19 ·
I listened to the meeting Tuesday, and the Ford Chairman stated that they anticipated the downturn and capitalized last year to withstand the downturn through the end of 2009. If it goes longer than that, they will have to explore other alternatives.

GM is in some trouble, but not at bankruptcy yet.

Chrysler is at bankruptcy or merger time.
 
#25 ·
When the CEO's were questioned about accountability of the funds - specifically how do we know that the funds will stay in the US - the CEO (Mullaly?) stated that the Gov. could put whatever oversight in that they thought would be sufficient.

The next question revolved around the profitability of operations in China and Brazil, which are significant, and the GM Chairman stated that those profits are being used to build new plants in China to keep up with demand.
 
#27 ·
I don't need to be agressive Im young
Conventional wisdom says quite the opposite. Because you're young you can AFFORD to be aggressive because you won't need to cash out any time soon, and can weather a loss over time. As you age, you get less aggressive because the risk isn't worth the chance of losing the money, and not having enough time to build back up before you need to use the money.
 
#34 ·
They are not asking for free money, they are asking for a loan. any one if us can do that any day. well, we used to be able to at least....
 
#35 ·
but anyone of us would also have to show financial stability, and how we would spend that large of a loan. the big three have run themselves in the ground over the years. if they suck bad enough that they can't run the company, maybe they should fire the ceos. nissan with the help of renault bailed themselves out when they were about to go bankrupt. ford tried to hire carlos gohsn back a few years ago but he was smart enough not to waste his time.
 
#36 ·
The Unions fault????

Why in the heck do some of ya'll automatically blame the union? The members of the U.A.W. aren't the ones mismanaging these companies. I don't know what you guys make an hour but these guys are far far from getting wealthy. I have buddies that work or have worked at the GM plant in Arlington. Heck they can't afford to buy the vehicles that they build. As far as the work they do, stand on your feet for almost 8 hours a day, having to raise your hand to go use the restroom, and talk about the most boring job ever. I'm an aircraft mechanic and am on my feet 10 hours a day but at least I do something different everyday. I am not a big union fan but if it wasn't for some unions you would be working Thanksgiving and Christmas, oh dang I am, oh well. Put the blame where it is due, management or mismanagement whichever fits. J.M.H.O.

737tdi
 
#41 ·
Why in the heck do some of ya'll automatically blame the union? The members of the U.A.W. aren't the ones mismanaging these companies. I don't know what you guys make an hour but these guys are far far from getting wealthy. I have buddies that work or have worked at the GM plant in Arlington. Heck they can't afford to buy the vehicles that they build. As far as the work they do, stand on your feet for almost 8 hours a day, having to raise your hand to go use the restroom, and talk about the most boring job ever. I'm an aircraft mechanic and am on my feet 10 hours a day but at least I do something different everyday. I am not a big union fan but if it wasn't for some unions you would be working Thanksgiving and Christmas, oh dang I am, oh well. Put the blame where it is due, management or mismanagement whichever fits. J.M.H.O.

737tdi

Your buddies ought to take a trip to Michigan and see how much they make....I'll bet you that the guys in MI are (were) making between
$70k-$100K per year. $30/hr to drive a forklift???? Where's the value in that?
 
#37 ·
BAH!!! Nobody MAKES them do that boring job. They DO have contracts that are BS and yes the big 3 are stupid for not telling every single union worker to go eff themselves.

Unions are NOT to thank for Thanksgiving and Christmas off- That was from Christian morals that this country had in a former life. Heck, places used to be closed on SUNDAY!!

Unions are a part, but not the entire problem.
 
#38 ·
The union forced its way into the hospital I worked at for 18 years. They settled on a 7% raise over 3 years (I used to get 5-7% evry year before the union arrived). Still had to take turns working holidays. And the cost of the "privilege" of being a union member was 3% of my income!!

I quit my job!! F the unions!!
 
#40 ·
I should have worded that differently. If it wasn't for some union pressure the 40 hour work week would be a dream, it would be 60 or more and holidays would be a myth. I agree they don't have to work there but we all have to work somewhere. "Heck, places used to be closed on SUNDAY!!" Most manufacturers in the early 1900's ran thier factories 7 days a week/12 hours a shift including child labor, if it wasn't for some oversight I guarantee we would be back to that in a heartbeat, if you don't beleive it just look to the Far East!! Corporate greed has no conscience. Again J.M.O.

737tdi
 
#42 ·
O.K. This will be the last I say about it. At 30/hr.= 62,500 on a 2080 hour work year. All UAW employs make appx. the same amout no matter where they live. The friend/s I spoke of retired from GM and were making top scale. He was making $28/hr. the day he retired, that's after 32 years with them. I don't know where the news and others obtain thier salary info. but it is far less then what they keep reporting. Also that guy driving the forklift, he has 25 years senoirtity, he spent the first 24 installing parts. We all will fight to make the most money we can, how much do you pay a plumber to fix your toilet, or an electrician to to replace a circuit breaker? As I said earlier I'm an aircraft mechanic. I work for the largest low cost airline in the business. How much am I worth? Since pulling over to the side of the road is not an option (as my wife says) you would think alot. I think the military should be the highest paid folks in the country but that's not going to happen. All's I'm saying is put failure where failure is due.

Semper Fi:

737tdi
 
#43 ·
the union has a lot to due with it.... but its also the government... has nothing to do with mismanagement.... its costs $78 an hour to built an american car and only $48 to build an import in the states...its a lot less expensive to build the imports overseas.... if we want to ship our products overseas, we are capped to how much we can import into their country, but they can ship as much as they want into ours.... we allowed them to move in and take over and pay less and give less benefits so they make more money off each vehicle... the government thinks its because they make cars that americans dont want and thats BS.... not everyone wants a small hybrid compact car... I hate them, and the companies know there are a lot more people like me... but its cheaper to buy an import than it is to buy domestic and this shouldnt be the case
 
This is an older thread, you may not receive a response, and could be reviving an old thread. Please consider creating a new thread.
Top