Poor Ford, What the Media does not report

All over the news, POOR FORD MOTOR COMPANY

Ford will cut 25,000 to 30,000 jobs, close 14 plants. Ford Motor (F) announced a massive restructuring plan Monday that will not only shrink the company, but also overhaul both the product mix and the sticker prices that customers see in Ford, Mercury and Lincoln showrooms.

Ford Motor CEO Bill Ford discusses plans for the car giant that include plant closings and layoffs.A downsized Ford, shedding up to 30,000 jobs and 14 factories by 2012, will become more innovative, add more in-demand small and gas-electric hybrid vehicles and adjust prices to reflect what customers have actually been paying, CEO Bill Ford vowed TO BUILD A STRONGER COMPANY. The cuts represent 20% to 25% of Ford's North American workforce of 122,000 people. Ford has approximately 87,000 hourly workers and 35,000 salaried workers in North America.

Even as it shutters plants, Ford is thinking of building a new one: "a low-cost manufacturing site." No details were given. I wonder where?

FORD Motors Co. plans to sink more investments into the Philippines for the manufacture of flexible fuel engines that could burn fuels with higher ethanol blend.

Peter Daniels, Ford president for Asia-Pacific and Africa, told reporters on Tuesday that the company would invest P1.1 billion to expand its existing assembly plant in Santa Rosa, Laguna, to build the new engine model. Huh? News to me.

“Ford is eyeing to use this engine technology for new cars being introduced in the market. We plan to fit this new engine to around 100,000 units in the next five years,” Daniels said, adding that the company would use the engine initially for the Focus model, which the company launched recently.

Vehicles using the flexible-fuel engines are also intended for markets abroad besides selling the vehicles locally, Daniels said.

The new investment will be used in expanding Ford’s facility, retooling and hiring new workers, he said. The new engine production plant is expected to be operational in early part of 2007.

The average worker in the Philippines makes $110.00 usd a month. Need I say more. Let us all wait and see how much the cost of a new Ford will be. As expensive as ever.