David Cole
David Cole
europeans ford growth koreans loss market means suffered three
Everyone was up in volume, but if some are up more, it means redistribution of the market, ... The real growth has come from the Koreans and Europeans while the Big Three (GM, Ford and DaimlerChrysler) really suffered loss in market share.
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If they say there's a 50-50 chance of a strike, my guess is there won't be one, and that this means they think there's pretty good progress. Sounds to me like he's pretty close to a deal.
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The plan will include a great deal of white-collar job cuts. Ford's white-collar employment is similar to GM's, meaning it's disproportionately high.
deal delay good means room
The delay is a good thing; it means there's room for a deal here.
closing couple mean
That may mean the closing of a couple of more plants.
argue facts mean might terrible
You could argue that this is a terrible thing but facts are facts. You might not like something but that doesn't mean it's going to go away.
believe job labor mean position strong supportive
I can't believe he'd make an announcement of that without labor being supportive of it. They (the union) are in a position where they are very vulnerable. Without strong employers, their job protections don't mean anything.
giving great sort
It's sort of like giving yourself a great big garage.
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It's sort of a critical ingredient. It's like when you mix eight or 10 chemicals and nothing happens. Then you drop this in and all of a sudden, boom, you get an explosion.
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Every one of the Big Three faces a problem right now of about $2,000 to $2,500 per vehicle produced cost disadvantage. If that plays out over time, they're all dead. It's change or die. Everything is driven by a profitable business. If you can't be profitable, you can't be in business. That is, I think, recognition that everybody is aware of.
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The average costs of an active employee is $130,000 a year, and the average cost for a retiree before Medicare is about $50,000. The savings are enormous.
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The bad news certainly isn't going to end for a while.
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The auto industry of the future will be a younger and more educated workforce. High-paying jobs for educated workers are not going away.
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They've really outgrown their Georgetown facility. This gives them a little additional capacity.