This is great news for Ford shareholders. American factory workers make anywhere from $20-$35 per hour. That’s a lot of money, equal to around $33k per annum. Shit, if I was back in the 1800’s, maybe I could live off $33k per annum.
By firing all of the factory workers in Detroit, Ford can hire workers at a slave wage, for less than $4 per hr in Mexico. In other words, Ford can hire a worker in Mexico for $26 per day, which would only get them 1 measly hour of work in America.
Fuck yeah. Good for the bottom line. The stock should run off this news.
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.
The CEO of Ford, Mark Fields, made a little more than $18m in 2015, or about $11,000 per hour–equal to about 550 full time workers in Detroit.
Surprisingly, Ford is lower by 2% for the session.
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35 an hour is like 70k per anum, pre-tax
They make 20
Tomato/tomato
I can’t believe that Ford made this announcement or decision in the middle of this presidential race. Why not wait till it is over? Fields seems a few fries short of a Happy Meal.
More ammo for Trump.
Assuming Hillary does not die before the election it’s looking like he’s got a good shot.
Yeah. Pretty crazy the tapes pulse depends on that diseased bag having one. Also some dirt coming out on that snake in the grass fake libertarian Johnson is another potential tape bomb.
To be fair. God forbid something happens to the man. Limit up.
Sir Jimmie Goldsmith said it back in the 90’s (search for the Charlie Rose interview on Youtube and don’t worry about all the Princess Di nonsense attributed to him) it is one thing for a wealthy country to trade with a wealthy country but a whole other thing when a wealthy country trades with a poor country…
The Michigan plant is not going to be shutdown, so no one will lose their job. It is going to be retooled to produce more profitable products. The rumor is a new Ranger and Bronco.
http://www.automobilemag.com/news/politics-ford-motor-companys-michigan-assembly-plant/
Yeah, that’s what they’re saying to spin it. That’s fucking bullshit.
What’s bullshit is the math in your first paragraph
Let us do the arithmetic together, shall we?
$20 p/h *7= $140
$140 p/d *5= $700
$700 p/w *4= $2,800
$2,800 *12= $33,600
Fucking imbecile.
Even if the plant shuts down 2 weeks a year it’s still 20 x 40 hrs x 50 weeks = $40k / yr. this doesn’t include paid overtime. Ford is a customer of mine.
It’s like having a discussion with an ape.
FUCK YOUR CUSTOMER TOO.
Lol, I like alty’s math. No reason to make it some riddle. Still, fuck Ford.
They will shut down something either in can or us.
Little shitbox cars like that shouldn’t be made within the boundaries of the USA in the first place.
Ford is indeed re-tooling those factories to make products more suited to the the size of a typical North American ass. The are not shipping out jobs. New products will take their place from what I read.
Now …if you want to bash someone about the head for moving US jobs to Mexico…let’s talk about Carrier and UTX (and no that acronym has nothing to do with a urinary tract infection)
That is all.
So essentially, it’s let them build the parts we already figured out to do efficiently, while the US figures out the next new shit to build into it, right?
What’s up with UTX?
They announced they are shutting down their Indiana assembly plant and moving all furnace and air conditioning products to Mexico.
There are a lot of guy in my trade that have sold Carrier for years/decades and they are dropping them. I realize the furnace business is a small part of the UTX total but I have to say there is a backlash building toward many of the old guard US companies who are moving production offshore.
Problem is…they have no protection from other global companies who bring their products here at prices far below what we can produce for.