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Ford Motor Co (NYSE:F) is trading up at writing even though Bill Ford – its Executive Chairman told autoworkers today that continued strike is a threat for the future of the company.
UAW hasn’t responded to Ford so far
On Monday, the great-grandson of Henry Ford (founder of Ford Motor) implored the United Auto Workers to work with the management on a tentative deal and “end this acrimonious round of talks”.
UAW is yet to respond to his comments this morning.
The news arrives shortly after the union unexpectedly started a strike at a Kentucky factory where Ford makes its highly profitable pickup trucks. Last week, the automaker had said it can’t offer more to its workers on strike than it already has (read more).
“F” is currently down over 20% versus its year-to-date high.
Watch here: https://www.youtube.com/embed/4wzOupQXY1E?feature=oembedFord says U.S. automotive industry is at risk
Bill Ford told autoworkers today that continued strike could even be a threat to the U.S. automotive industry at large.
He said the car manufacturer would never see its employees as “enemies” and called on the need to see the negotiations as “Ford and the UAW vs Toyota, Honda, Tesla, and Chinese companies that want to enter our home” instead of Ford versus the United Auto Workers.
Ford is interesting in elevating the talks with the union, he also confirmed on Monday.
The New York listed firm is scheduled to report its Q3 earnings on October 26th. Consensus is for it to earn 40 cents a share versus 30 cents per share a year ago. It recently reported a 7.7% year-on-year increase in its quarterly U.S. sales.
The post Ford chairman wants to ‘elevate’ talks with the UAW appeared first on Invezz.
