ANTAUS Posted August 15, 2007 Share Posted August 15, 2007 LINK-Detroit News Quote Link to comment Share on other sites More sharing options...
Joe771476 Posted August 15, 2007 Share Posted August 15, 2007 Yes, and GM is selling Allison, another profit maker. GM and Ford are both emaciated, emasculated shells after 100 years in business. Very sad. Quote Link to comment Share on other sites More sharing options...
NickF1011 Posted August 15, 2007 Share Posted August 15, 2007 Eh, appears all that Ford is selling are the parts factories they bought in 2005 to bail out Visteon. Quote Link to comment Share on other sites More sharing options...
NickF1011 Posted August 15, 2007 Share Posted August 15, 2007 How can you buy back your own property? Most Visteon plants were never fully transferred from Ford. Some property to this day is still under Ford Motor/Ford family control. Beats me. Just goin by what the article said. Quote Link to comment Share on other sites More sharing options...
g48150 Posted August 16, 2007 Share Posted August 16, 2007 Well I guess it beats paying blood money to keep the parts supplier in business after a bankruptcy... (This bit of sarcasm is in reference to the GM/Delphi/UAW deal that was recently agreed to) Quote Link to comment Share on other sites More sharing options...
Cartwright99 Posted August 16, 2007 Share Posted August 16, 2007 Does anyone know the status of the Monroe Automotive Components Holdings plant? I wonder if it will be sold or closed. If it closes than that area will basically cease to exist. Quote Link to comment Share on other sites More sharing options...
Cartwright99 Posted August 16, 2007 Share Posted August 16, 2007 It will be closed. We were in the middle of installing some new catalytic converter lines, and the plant manager called the company that was producing the machines (Melton) and told them not to deliver them, and the work came to a screeching halt. Rumor has the converter contracts being divided between Arvin and Tenneco, with them being done next August. Sway Bars will be done next March (can't remember the name of the company that won the contracts). Half shaft will be done next summer shutdown. No word yet on Neapco taking over drive shaft. Last I heard, the negotiations were not going so well. You can thank all the assholes driving foreign vehicles for this, and for the eroding tax base in the Monroe area, not to mention all of Michigan. When they complain about their taxes going up after the plant closes, ask them what kind of car is in their driveway. Thanks for the info! My dad worked there for 36 years and I had a brief stint there also as a TPT. I'm afraid that if that plant shuts down, there won't be much left of my hometown as that plant supports, indirectly, all of the other business around. I don't completely agree though about calling the import buyers a##holes. Part of that problem lies with the poor product that Ford offered for a while. People remember the bad things that happen (dealer, quality, refinement). Perception led them to believe that imports were better which in most cases they were (80's-90's). I don't think that is the case now, as I think Ford products are pretty darn good on quality and content. It will take a while for some of those people to realize this. The problem is, there may not be enough time. Quote Link to comment Share on other sites More sharing options...
TStag Posted August 16, 2007 Share Posted August 16, 2007 I wonder why Ford is selling so many subsidiaries at present? Part of me thinks they are expecting a tough road ahead, thanks to economic uncertainty and their current product lines. But the other part of me says Ford want to slim down to basically being Ford with very few other businesses attached.. Quote Link to comment Share on other sites More sharing options...
7Mary3 Posted August 17, 2007 Share Posted August 17, 2007 I wonder why Ford is selling so many subsidiaries at present? Part of me thinks they are expecting a tough road ahead, thanks to economic uncertainty and their current product lines. But the other part of me says Ford want to slim down to basically being Ford with very few other businesses attached.. Ford needs the money, simple as that. Quote Link to comment Share on other sites More sharing options...
RichardJensen Posted August 17, 2007 Share Posted August 17, 2007 Part of me thinks That part of you needs to read up on the Visteon spin-off. Unlike GM, which basically let Delphi sink into Chapter 11 proceedings, Ford has done several things for Visteon: 1) They kept several thousand union employees on their payroll after spinning off Visteon 2) They invested in and recapitalized Visteon twice 3) They bought back several of the union Visteon plants, and formed a shell corporation called ACH. That corporation, ACH, is in the process of selling off these union plants and this transfer is nothing more than another instance of this. If you actually read up on these matters before posting here you might come across less uninformed than you typically do. http://media.ford.com/article_display.cfm?article_id=21687 http://www.visteon.com/europe/uk/newsroom/...05/050525.shtml http://www.visteon.com/europe/uk/newsroom/...10_story1.shtml http://www.eurofound.europa.eu/eiro/2000/0...de0004254n.html Quote Link to comment Share on other sites More sharing options...
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