jcartwright99 Posted April 28, 2022 Share Posted April 28, 2022 Freep Looks like they are trimming some of the fat in Engineering. Not sure what to think about that. 1 Quote Link to comment Share on other sites More sharing options...
Footballfan Posted April 28, 2022 Share Posted April 28, 2022 51 minutes ago, jcartwright99 said: Freep Looks like they are trimming some of the fat in Engineering. Not sure what to think about that. Thus is nothing new. I guarantee you these functions are not being eliminated, they are just being *offshored." At least they gave them until the end of the week aside from other downsizing where folks were given 5 minutes to clean out their desks and escorted out in front of their peerslike thieves . Quote Link to comment Share on other sites More sharing options...
fuzzymoomoo Posted April 28, 2022 Share Posted April 28, 2022 They lost $3B in the first quarter. Something needs to be cut. Quote Link to comment Share on other sites More sharing options...
slemke Posted April 28, 2022 Share Posted April 28, 2022 1 hour ago, fuzzymoomoo said: They lost $3B in the first quarter. Something needs to be cut. Their stake in Rivian? $5.5B of that loss was a paper adjustment of the value of the Rivian stock. Since Ford didn’t sell, they didn’t really lose anything. It may go up next quarter or down some more. If it does the latter, there will be questions raised about why Ford didn’t cash out early. Could be an interesting shareholder meeting. 1 Quote Link to comment Share on other sites More sharing options...
rmc523 Posted April 28, 2022 Share Posted April 28, 2022 58 minutes ago, slemke said: Their stake in Rivian? $5.5B of that loss was a paper adjustment of the value of the Rivian stock. Since Ford didn’t sell, they didn’t really lose anything. It may go up next quarter or down some more. If it does the latter, there will be questions raised about why Ford didn’t cash out early. Could be an interesting shareholder meeting. IIRC, there was a limitation on when they could sell their stake. And/or if that wasn't said publicly, it's the rumor as to why they didn't right away. Quote Link to comment Share on other sites More sharing options...
rperez817 Posted April 28, 2022 Share Posted April 28, 2022 3 hours ago, jcartwright99 said: Freep Looks like they are trimming some of the fat in Engineering. Not sure what to think about that. It's inevitable, necessary, and expected. The quote from Jim Farley in the Detroit Free Press article says it all. Ford CEO Jim Farley has said the company needs "totally different talent." 1 Quote Link to comment Share on other sites More sharing options...
akirby Posted April 28, 2022 Share Posted April 28, 2022 1 hour ago, slemke said: Their stake in Rivian? $5.5B of that loss was a paper adjustment of the value of the Rivian stock. Since Ford didn’t sell, they didn’t really lose anything. Having to show a loss on stock they didn’t sell is bogus. 1 Quote Link to comment Share on other sites More sharing options...
rperez817 Posted April 28, 2022 Share Posted April 28, 2022 24 minutes ago, akirby said: Having to show a loss on stock they didn’t sell is bogus. Ford, like other publicly traded companies, must reconcile within their income statements net unrealized losses (or gains) on equity holdings. The rules are in FASB ASU 2016-01 and are not bogus. UPDATE 2016-01—FINANCIAL INSTRUMENTS—OVERALL (SUBTOPIC 825-10): RECOGNITION AND MEASUREMENT OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES (fasb.org) Quote Link to comment Share on other sites More sharing options...
akirby Posted April 28, 2022 Share Posted April 28, 2022 10 hours ago, rperez817 said: Ford, like other publicly traded companies, must reconcile within their income statements net unrealized losses (or gains) on equity holdings. The rules are in FASB ASU 2016-01 and are not bogus. UPDATE 2016-01—FINANCIAL INSTRUMENTS—OVERALL (SUBTOPIC 825-10): RECOGNITION AND MEASUREMENT OF FINANCIAL ASSETS AND FINANCIAL LIABILITIES (fasb.org) I understand the rule. It’s a stupid rule. If the stock bounces back next quarter they have to report a big gain. Quote Link to comment Share on other sites More sharing options...
twintornados Posted April 28, 2022 Share Posted April 28, 2022 12 hours ago, slemke said: Their stake in Rivian? $5.5B of that loss was a paper adjustment of the value of the Rivian stock. Since Ford didn’t sell, they didn’t really lose anything. It may go up next quarter or down some more. If it does the latter, there will be questions raised about why Ford didn’t cash out early. Could be an interesting shareholder meeting. Maybe Ford will purchase Rivian and absorb it into Ford Model e Quote Link to comment Share on other sites More sharing options...
FordBuyer Posted April 28, 2022 Share Posted April 28, 2022 12 hours ago, akirby said: Having to show a loss on stock they didn’t sell is bogus. Yeah, I don't get that either...only paper loss or gain if Rivian hadn't entered production hell. Ford's operations beat profit expectations. Quote Link to comment Share on other sites More sharing options...
FordBuyer Posted April 28, 2022 Share Posted April 28, 2022 2 hours ago, twintornados said: Maybe Ford will purchase Rivian and absorb it into Ford Model e Rivian just may need Ford's production expertise if it expects to get out of production hell. Lucid is having even more problems and completed vehicles have lots of issues. Ford has already built 2,000 Lightnings as it has taken Rivian 6 months to build that many. Quote Link to comment Share on other sites More sharing options...
rperez817 Posted April 30, 2022 Share Posted April 30, 2022 On 4/28/2022 at 12:41 PM, FordBuyer said: Rivian just may need Ford's production expertise if it expects to get out of production hell. Maybe some of the former Ford engineers will apply for a job at Rivian. Rivian currently has over 1,300 open positions in the U.S. alone. Careers - Rivian 1 Quote Link to comment Share on other sites More sharing options...
Bob Rosadini Posted May 1, 2022 Share Posted May 1, 2022 21 hours ago, rperez817 said: Maybe some of the former Ford engineers will apply for a job at Rivian. Rivian currently has over 1,300 open positions in the U.S. alone. Careers - Rivian If that is the case, and these surplused Ford employees are attractive to Rivian, sounds like they forced the wrong people out. Didn't Farley say words to effect..."we need different skill sets"...? 1 Quote Link to comment Share on other sites More sharing options...
akirby Posted May 1, 2022 Share Posted May 1, 2022 1 hour ago, Bob Rosadini said: If that is the case, and these surplused Ford employees are attractive to Rivian, sounds like they forced the wrong people out. Didn't Farley say words to effect..."we need different skill sets"...? I suspect a lot of those were ICE engineers which would t be that useful to Rivian. 1 Quote Link to comment Share on other sites More sharing options...
jpd80 Posted May 4, 2022 Share Posted May 4, 2022 Just thinking that this fits the time line for something like next Gen Mustang project coming to completion Quote Link to comment Share on other sites More sharing options...
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