Ford’s (F) reputation for stupidity may not have been mitigated by Bill Ford stepping down as CEO and a senior executive’s decision not use the company plane for free to fly home to Florida. .
The company’s latest proposal is to give many of its white collar workers bonuses if the Ford reaches many of its cost-cutting goals.
Notice that the extra cash is not tied to rising sales, which is the only thing that will save the company.
The UAW leadership can read the papers and they are not terribly happy that Ford will be passing out its scarce cash while asking its factory workers to accept benefits cuts, buy-outs and layoffs.
It is a hell of a way to get the union in line before the big contract negotiations later this year.
Douglas A. McIntyre can be reached at douglasamcintyre@247wallst.com. He does not own securities in companies that he writes about.
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