Ford Earnings Surpass Expectations

The Ford Motor Company’s performance in the first quarter of this year was the automaker’s best since 1998. Ford earned $2.6 billion in the quarter, surpassing Wall Street estimates by half a billion dollars. Company officials attribute the earnings to new vehicles and price increases that offset the rise in cost of raw materials. Ford’s Louisville… Continue reading Ford Earnings Surpass Expectations

Ford CEO Alan Mulally Praises Louisville

Ford CEO Alan Mulally praised Louisville in a speech Tuesday night at the KFC Yum Center. Mulally was the keynote speaker at the Greater Louisville Inc. annual meeting.

Ford is in the middle of a $600 million retooling of the Louisville Assembly Plant. Mulally hailed the new model of the Ford Escape, which will be built at the plant, as revolutionary.

Beshear Says Ford CEO Positive On Louisville's Future

Kentucky Governor Steve Beshear met with Ford Motor Company CEO Alan Mulally this week, and he says the conversation was encouraging. With Ford upgrading the Louisville Assembly Plant to produce new vehicles, Beshear says he’d been planning to meet with Mulally for weeks. They convened on Monday and Beshear says Mulally told him that Ford’s… Continue reading Beshear Says Ford CEO Positive On Louisville's Future

275 Louisville Assembly Plant Workers Laid Off

275 workers at Ford’s Louisville Assembly Plant are being laid off today.

The workers on Ford’s Explorer line are being cut as the vehicle is taken out of production.

Local United Auto Workers Union Building Chairman Steven Stone says the union tried to prevent the layoffs, but employment will be boosted when the plant begins manufacturing a new fuel-efficient vehicle in 2011.

“They are predicting to run multiple shifts out there, so I’m sure every single one of those that are laid off will be back,” he says. “I’m sure of that.”

Stone says the laid off workers will receive some health benefits and about 70% of their salaries for one year. A Ford spokesperson did not return a phone call for comment.

Yarmuth Opposes 'Car Czar' Position

Congress is pushing forward with negotiations for a bridge loan to the country’s Big Three automakers. Congressman John Yarmuth of Louisville says he’s hesitant about parts of the legislation, but thinks it’s necessary. Two of the Big Three – GM and Chrysler – say they’ll fail in weeks, not months, if the government doesn’t give… Continue reading Yarmuth Opposes 'Car Czar' Position