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Discuss the post How to destroy good news the FORD way made within our Current Events forum; Post Snippet: UAW says aims to win back Ford output pledge DETROIT (Reuters) - United Auto Workers ...

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Old 3rd November 2009, 05:52 PM
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Default How to destroy good news the FORD way

UAW says aims to win back Ford output pledge

DETROIT (Reuters) - United Auto Workers President Ron Gettelfinger said on Tuesday the union will try to convince Ford Motor Co (F.N: Quote, Profile, Research, Stock Buzz) to keep product commitments even after workers rejected a proposed cost-cutting deal that would have saved the automaker an estimated $30 million annually.

Speaking at the Reuters Autos Summit in Detroit, Gettelfinger said Ford's relative health compared with General Motors Co GM.UL and Chrysler was a factor in the rejection of proposed concessions to Ford.

"Ford was constantly making the case as to how well they were doing," Gettelfinger said.

Gettelfinger said a heavy debt load remains an issue for Ford, the only large U.S. automaker not to file for bankruptcy in 2009.

"Ford's hitting on all cylinders right now but their debt load is an issue," he said. "They are trying to restructure that."

Gettelfinger said there would be no new talks with Ford but discussions between the union and the No. 2 U.S. automaker would continue on a daily basis.

Ford had pledged to build new vehicles at several of its U.S. plants, including a Kentucky facility that would have exported a new version of the Ford Kuga crossover to Europe. That vehicle is expected to replace the Escape in Ford's lineup.

"Whether they will follow through with that -- let's see how good we are on the day-to-day discussions in holding them to that," Gettelfinger said of Ford's proposed plans to bring new production to U.S. factories.

(Reporting by Soyoung Kim, Bernie Woodall; Editing by Maureen Bavdek)

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