Ford Demands "Sacrifices" -- From Everyone Else
Ford Motor Company Chairman and CEO Willaim Clay Ford, Jr. has announced that Ford's stategic plan for the future includes "significant plan closings" and job losses.
Says Mr. Ford: "This is not a sacrifice that we will ask only the UAW and its membership to bear.... There will be sacrifices asked of people throughout our company, from top to bottom, in these very difficult circumstances, and we will reduce structure as well as jobs."
Translation: Thousands--possibly tens of thousands--of working people are about to lose their jobs as Ford Motor Company "sacrifices" them to the God of commerce. Those former Ford workers who have debts (mortgages, car loans, student loans, etc.) will be left with no means to repay those debts, and they will have six months to find a way to make regular payments again before being "written off" as uncollectable by their creditors, and their families cast into the American Debtors Prison, through no fault of their own.
In case you are concerned about William Clay Ford, Jr. and his family during this crisis, I can assure you that they will be just fine. According to Executive Paywatch, Mr. Ford received more than $22 million in compensation in 2004 alone (Click here for details). That is more than 350 times the average annual salary of an autoworker.
However, given that his utter mismanagement of the company he inherited is about to throw the very workers who made him rich into unemployment, poverty and debtors imprisonment, I find myself more concerned with those autoworkers who are about to be thrown into the American Debtors Prison.
All the best,
Paul
Says Mr. Ford: "This is not a sacrifice that we will ask only the UAW and its membership to bear.... There will be sacrifices asked of people throughout our company, from top to bottom, in these very difficult circumstances, and we will reduce structure as well as jobs."
Translation: Thousands--possibly tens of thousands--of working people are about to lose their jobs as Ford Motor Company "sacrifices" them to the God of commerce. Those former Ford workers who have debts (mortgages, car loans, student loans, etc.) will be left with no means to repay those debts, and they will have six months to find a way to make regular payments again before being "written off" as uncollectable by their creditors, and their families cast into the American Debtors Prison, through no fault of their own.
In case you are concerned about William Clay Ford, Jr. and his family during this crisis, I can assure you that they will be just fine. According to Executive Paywatch, Mr. Ford received more than $22 million in compensation in 2004 alone (Click here for details). That is more than 350 times the average annual salary of an autoworker.
However, given that his utter mismanagement of the company he inherited is about to throw the very workers who made him rich into unemployment, poverty and debtors imprisonment, I find myself more concerned with those autoworkers who are about to be thrown into the American Debtors Prison.
All the best,
Paul
posted by Paul at 12:44 PM
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