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Thread: well...this sucks

  1. #1
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    Angry well...this sucks

    http://www.click2houston.com/money/f...-us-to-mexico_

    moving small car production to boost profit margin because of lower wages...


    DETROIT - Ford Motor Co. says it's moving all of its U.S. small car production to Mexico.

    Ford CEO Mark Fields confirmed the long-expected move Wednesday during an event for investors and Wall Street analysts.


    Ford currently makes its Fiesta subcompact in Mexico, but its Focus and C-Max small cars are made in suburban Detroit. Making them in Mexico would boost company profits because of low wages there.

    The company is building a new $1.6 billion assembly plant in San Luis Potosi, Mexico. It will make small cars there starting in 2018.

    Ford's Michigan Assembly Plant, which currently makes the small cars, will be getting new products under a contract signed last year with the United Auto Workers union. They will likely be larger, more profitable vehicles like the Ford Ranger pickup.
    “There’s two ways to do things: Do them right or do them again.” - Special Warfare Operator Senior Chief Petty Officer (SEAL) Thomas A. Ratzlaff KIA Afghanistan Seal Team 6

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    thanks unions and government

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    Thanks pension funds, hedge funds, institutional investors and large share holders.

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    Quote Originally Posted by Simplytodd View Post
    Thanks pension funds, hedge funds, institutional investors and large share holders.
    None of those made the cost of labor too high

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    No they ask for higher profit margins to drive the share price up to pad their portfolios. This is why the announcement was made to wall street executives and investors. Last time I checked there are a ton of industries that don't have unionized labor that have there manufacturing centers located overseas. As for the government being the reason, while we do have the highest corporate taxes in the devolved world we also provide the most means of dodging those taxes through creative tax structures and loopholes.

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    Quote Originally Posted by Simplytodd View Post
    No they ask for higher profit margins to drive the share price up to pad their portfolios. This is why the announcement was made to wall street executives and investors. Last time I checked there are a ton of industries that don't have unionized labor that have there manufacturing centers located overseas. As for the government being the reason, while we do have the highest corporate taxes in the devolved world we also provide the most means of dodging those taxes through creative tax structures and loopholes.
    "American automakers pay Mexican workers $8 to $10 per hour, including benefits. Even among the Detroit Three, there is a gap, according to the CAR: GM's labor costs average $58 per hour, while Ford is at $57 per hour and FCA workers average $48. That difference is partly because FCA has more workers earning the lower, entry-level wage."
    http://www.reuters.com/article/autos...0WR1KX20150326

    Unions make it WORSE. But yes, in many industries, our wages here are FAR beyond what they should be, which is why jobs get moved elsewhere.

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    McDonalds pays their workers about $8-$10 an hour. Perhaps you want that quality of worker assembling your next car. Math is not my strong point so I'm not sure of the percentage difference between $57 and $10 but I can assure you that there won't be an equal percentage discount on the new vehicles.

    I have an article for you too.

    http://www.epi.org/publication/union...ty-is-growing/

    We can ship all the blue collar jobs overseas and when you can't afford that new $65k f-250 Wall Street will be there to create a new loan product for you so that it can be afforded. Never mind that you are now paying a car note over 10 years.

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    Both of you are just mad at capitalism. Like any economic system, it will run its course.
    2001GT-Auto YSI (2.7/15%OD)<br />89 LX 5.0 (347 stockish)

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    If the manufacturing facility is built correctly you can have 3 blind parakeets and a chimp doing assembly and it will be correct. There is no reason someone should be paid $58 an hr as an assembly worker. Now if that is their shop rate that rolls overhead in then that's a pretty respectable rate. They way it states labor rate is xyz for ford and gm but fca workers make x is worded oddly.


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    Quote Originally Posted by 2001sleeper View Post
    Both of you are just mad at capitalism. Like any economic system, it will run its course.
    Let me guess, we need something more stable like socialism lol


    One day the same people that doubt your dream will tell people how they met you!

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