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Author: Detroit Free Press Online
How Ford got into prestigious racing series GM is dying to join
This content is only available to subscribers. Get unlimited digital access. $1 for 3 Months. Subscribe Now Your subscription supports: Unlimited access to subscriber only articles on desktop, tablet and mobile web. The eNewspaper, a digital replica of the print paper, every day. Access to exclusive sports reporting on your local teams from USA TODAY… Continue reading How Ford got into prestigious racing series GM is dying to join
UAW election mailing was actually campaign letter, monitor says
The independent UAW monitor has determined that a local union officer in upstate New York violated election rules when he sent a letter to more than 100 retired members telling them to vote for incumbent President Ray Curry and two other candidates in the current UAW runoff election. At issue was the use of union… Continue reading UAW election mailing was actually campaign letter, monitor says
CEO Jim Farley identifies key pain points Ford must fix, starting with engineering
Ford CEO Jim Farley, just days after telling industry analysts the company’s 2022 earnings report was disappointing and billions below his expectations, went another step to outline his perspective on the company he says is taking too long to fix. In an exclusive interview with host Jason Stein for an upcoming episode of SiriusXM’s “Cars… Continue reading CEO Jim Farley identifies key pain points Ford must fix, starting with engineering
Tesla raises price of Model Y, Ford won’t do same for Mustang Mach-E
After making headlines for price cuts on its electric vehicles in January, Tesla reversed course and raised the price of its Model Y late Friday after the U.S. government relaxed regulations for electric vehicle tax credits. But Ford is not planning to raise the Mustang Mach-E price or change plans to offer a price break… Continue reading Tesla raises price of Model Y, Ford won’t do same for Mustang Mach-E
Ford execs cut their own performance bonuses after weak 2022 earnings
Ford CEO Jim Farley, along with his executive management team, will take a cut in bonus pay linked to performance goals, he told employees less than 24 hours after the 2022 earnings report was released. In a memo emailed to staff Friday, and signed by Farley and Chief Financial Officer John Lawler, the Ford team… Continue reading Ford execs cut their own performance bonuses after weak 2022 earnings
Ford returns to the most prestigious motorsport globally: Formula 1
Ford Motor Co., which was financed and founded in 1903 on the racetrack, announced Friday that it’s making another strategic bet on its future by returning to Formula 1. The global competition, which has been spotlighted by the popular Netflix series, “Drive to Survive,” is seeing a rise in popularity here in the U.S. And… Continue reading Ford returns to the most prestigious motorsport globally: Formula 1
Ford’s Jim Farley addresses automaker’s financial struggles, plans to slash costs
This content is only available to subscribers. Get unlimited digital access. $1 for 3 Months. Subscribe Now Your subscription supports: Unlimited access to subscriber only articles on desktop, tablet and mobile web. The eNewspaper, a digital replica of the print paper, every day. Access to exclusive sports reporting on your local teams from USA TODAY… Continue reading Ford’s Jim Farley addresses automaker’s financial struggles, plans to slash costs
Ford CEO: ‘I’m frustrated’ with 2022 earnings that fell short by some $2B
Ford Motor Co. on Thursday reported 2022 adjusted earnings before interest and taxes (EBIT) of $10.4 billion, up from $10 billion in 2021. For the fourth quarter alone, Ford reported EBIT of $2.6 billion compared with $2 billion a year ago. John Lawler, Ford chief financial officer, said in a news media call the company… Continue reading Ford CEO: ‘I’m frustrated’ with 2022 earnings that fell short by some $2B
Ford to pay UAW hourly workers $9,176 in profit-sharing
Ford announced Thursday in its earnings report that its UAW employees will receive profit-sharing checks averaging $9,176 this year. Checks will be distributed March 9. That’s up from $7,377 for hourly workers in 2021, when supply chain disruption and pandemic-related issues continued to shut down plants. Yet the logistics drama has also led to higher… Continue reading Ford to pay UAW hourly workers $9,176 in profit-sharing