I listened to the whole webcast today, debt is at 16.1 billion. As for the UAW, nothing should change until Ford is at investment grade. In my opinion, the union should get increased profit sharing, but no additional givebacks until Ford has retired the corporate mortgage. No need to give the UAW members anything more since they refused to sign the same deals with Ford that they made with GM and Chrysler.
Not a union hater, just stating what would be obvious to anyone looking in from the outside. Heck, the union should let management retire the debt, and then Ford could have a ton of money for profit sharing with the union. The higher interest rates that Ford pays due to it's ratings cost the company tens of millions of dollars annually. This could go stright to the bottom line, which, under a profit sharing deal, would be good for management, the UAW workers, and the shareholders. Everybody wins!
By the way, I toured the Rouge last week. I wished I could come down off the walkway and shake those workers hands. It was obvious that they were VERY commited to a job well done. Kudos ladies and gentlemen, you all made me very proud to drive Ford products and to be a shareholder.